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Hire Purchase

Technically 'loaning' the vehicle, then paying it back. Flexible to suit budgets

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Finance Lease

A flexible option which gives you the use, but not ownership of the vehicle

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Lease Purchase

A Hire Purchase or Conditional Sale contract with a payment structure that is the same as a Hire Purchase “with” a Balloon
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Contract Hire

Essentially 'renting' a vehicle. Set monthly fee for an agreed period and mileage allowance

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Contract Purchase

Long-term rental purchase agreement. There business makes an initial deposit followed by fixed, monthly payments
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Personal Contract Purchase (PCP)

Similar to Hire Purchase, but monthly payments paying off the depreciation of the vehicle, so a balloon payment is needed at the end to keep the vehicle

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What's Involved In Applying For Vehicle Finance?

Finance Guides

Empowering You Through Knowledge

Applying For Finance Guide

Key considerations if you're thinking of financing a vehicle.

Is Your Business Eligible For Finance?

Handy guide for the key things that finance companies need when you're applying for finance as a business.

Finance Options

Quick guide into the key financing options available.

Key steps

Key Questions To Ask When Considering Financing A Vehicle

finance and vehicle advice for business

fair wear and tear

The following is a summary of the BVRLA Fair Wear & Tear guidlines. A complete version can be requested from your leasing company.

finance and vehicle advice for business

ACCEPTABLE

  • One scratch on the border of the wheel rim measuring under 100mm
  • One scuff on the border of the wheel rim measuring under 100mm
  • Scuffs/scratches on the face of the wheel trim measuring under 100mm
  • Tyres with a legal minimal tread of 1.6mm

NOT ACCEPTABLE

  • Any abrasion, scratch or scuff measuring over 100mm
  • Any bulges, cracks or cuts on a tyre
  • Any deformity of the wheel: cap, tyre, rim, trim or alloy
  • Any tyre with a tread under the legal limit of 1.6mm

ACCEPTABLE

  • Any stone chip to the surface of the light casings that has not caused a break
  • Any abrasions, scratches or scuffing, or up to 50mm on mirror casing
  • Any windscreen stone chip, under 10mm, that is not in the driver’s line of sight

NOT ACCEPTABLE

  • Any chip or crack which is larger than 1cm regardless of its location
  • Any deformation of the mirror/mirror case
  • Broken glass or non-operational lights

ACCEPTABLE

  • Any phone fixings that have be added can be left provided they are fitted correctly
  • Deterioration of the seats caused by normal usage
  • Any stains that can be successfully removed by general cleaning
  • Discolouration caused by day to day usage

NOT ACCEPTABLE

  • Unpleasant odours or soiling that is not likely to be removed via general cleaning
  • Any abrasion, cut, tear or deformation of interior materials (e.g. carpets, seats and floor mats)
  • Any gaps, holes or spaces left from the removal of equipment
  • Any missing fixtures

ACCEPTABLE

  • Any scuff or scratch of the loading area sills and seals that will not be seen from the outside and does not interfere with the function of the doors
  • Any deformation of the loading area sills and seals that will not be seen from the outside and does not interfere with the function of the doors
  • Any bump of the loading area sills and seals that will not be seen from the outside and does not interfere with the function of the doors
  • Any dent of the loading area sills and seals that will not be seen from the outside and does not interfere with the function of the doors
  • Any additional fittings can be left on the vehicle provided they have been fitted correctly

NOT ACCEPTABLE

  • Any damage to the interior lining that impacts upon the use of windows, doors or any other fitting
  • Any deformation, scratch or scuff of the loading area sills and seals, that will not be seen from the outside, and does not interfere with the function of the doors
  • Any holes in the loading floor
  • Any corrosion
  • Any lining that is missing, ripped or torn
  • Any large abrasions or dents caused by improper loading or poorly secured goods

ACCEPTABLE

  • Small scratches measuring up to 100mm that could be removed with polishing
  • Any dent measuring less than 20mm and only 2 dents per panel
  • Any bump measuring less than 20mm and only 2 bumps per panel
  • Any scratch up to 100mm on any non-painted or textured bumpers
  • Any scuff up to 100mm on any non-painted or textured bumpers
  • Discolouration that is due to normal external factors

NOT ACCEPTABLE

  • Stickers and/or any glue residue from stickers
  • Paint discolouration resulting from unnatural means (e.g., chemicals)
  • Any detectable repair
  • Breaks or cracks in a bumper or grilles
  • Corrosion (e.g., rust)
  • Any abrasion, scratch or scuff over 100mm which cannot be polished out
  • Any dent over 20mm