Looking for Business Finance? - Just Ask Elton
Here at Elton Finance we understand the need for you to keep your business moving. Whether you are a business start up or you are looking to expand, we can work closely with you In order to understand your requirements and source the right finance package for you.
We work across many sectors some of which include: Manufacturing firms, Coach Operators, Haulage Firms, Forestry and Sawmills, Food Processors, Caravan and Campsites as well as Hotels, Shops and Restaurants.
Finance Lease is a form of flexible leasing to fund the use, but not the ownership, of a vehicle and is ideally suited for VAT registered businesses. The leasing company hires the vehicle to the customer for an agreed period of time for an agreed monthly sum.
A Hire Purchase (HP) agreement is one of the most common ways of funding a vehicle purchase. It is normally a fixed cost, fixed period loan of money secured to the purchase of a vehicle. The lender will retain ownership of the vehicle/goods until the end of the agreement. Once an option to purchase fee has been paid, title of the goods would transfer to the customer.
Contract Hire is available to any type of customer – whether business or private – but, because of its structure and form, it is ideally suited for VAT registered businesses. Contract Hire is a method of funding the use of a vehicle for a set period of time but not the ownership of it.
Lease Purchase is similar to a Hire Purchase agreement except that payments are structured like a lease agreement where the customer pays advance payments rather than a deposit. A balloon payment can also be incorporated into an agreement, which represents the future residual value of the vehicle.