One of the biggest overheads that many businesses face is the cost of buying and running their commercial fleet.
Any vehicles that a company owns outright represent a large capital investment. This money could be invested in other areas of your business, which is why at DJB we offer a range of ways for firms to pay for their company vehicles gradually.
Here are the main options, with a brief explanation of each:
Hire Purchase
Hire purchase works very much like a standard loan. You borrow the amount you need and pay it back with interest.
Re-finance
It is often possible to borrow the cash needed for company vehicles by using an asset that the firm already owns as collateral. Sometimes the lease or loan on an existing item can be restructured to allow the firm to generate enough capital to buy further vehicles.
Finance Lease
A finance lease is a simple leasing agreement. The lessee chooses the vehicle and a finance company buys the product, before lending it out to the renter.
Operating Lease
Operating leases ensure that you only pay for the vehicle during its useful life. Once the asset becomes too old, another lease on a newer vehicle can be arranged.
Contract Hire
This method is very similar to leasing, but there are more options available for the package.
To find out more about leasing or arranging another form of finance, give us a call at DJB. Whether you need to buy one vehicle or a whole fleet, we can arrange commercial vehicle finance that is perfect for your needs and will save you money.
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