Business and Fleet Customers
Welcome to Waters Business
At Waters Business we offer an outstanding range of products and services designed to meet all of the needs of the Business customer.
With Mazda, Peugeot and Renault franchises we can supply a wide range of vehicles, both cars and commercials, to suit your requirements.
With competition increasing in almost every business sector, it has never been more important for you to find the right vehicle and the best method of funding.
At Waters Business we appreciate that cash flow is the heartbeat of most businesses today and we have a range of finance solutions to match your exact business requirements, with 'in-house' quotation facilities through all Waters Business dealers.
With so many different funding options available, selecting the one that's right for your can often be a confusing exercise.
That's why our team of experts are ready and waiting to offer impartial advice and guidance so that you can make the decision that's right for you.
If you would like to discuss your vehicle funding options with one of our team, simply Contact Us. In the meantime, you may wish to review our quick guide below.
Business Contract Hire
This is one of the most popular ways to funding your vehicle and essentially involves hiring rather than owning the car. This can be a tax efficient option for many businesses and provides peace of mind through fixed monthly charges for the duration of the contract. In this case, rentals are either fully or partially deductible against corporation tax and depending on the level of personal usage, at least 50% of the VAT is reclaimable.Personal Contract Hire
This is very similar to regular contract hire but is designed for private individuals. You pay a fixed monthly sum for the duration of the contract and then hand back the vehicle to the leasing company and either walk away or choose a new vehicle. Remember, this method does include VAT, although this is not reclaimable by private individuals.Lease Purchase
With a Lease Purchase arrangement you agree an end of contract balloon payment which is normally based on the anticipated re-sale value of the vehicle. This is then subtracted from the initial vehicle price before monthly payments are calculated. In essence, you are then financing the depreciation rather than the purchase of the vehicle. Please note that when using this finance method, VAT can only be recovered on commercial vehicles.
Hire Purchase
This is perhaps the most well known form of financing any asset that you do not wish to pay for outright. When choosing this option, you are taking out a loan to pay for the vehicle which you then settle through regular monthly payments covering the cost of the vehicle together with the agreed interest on the loan. Businesses choosing a HP arrangement should note that VAT is only recoverable in relation to commercial vehicles.
PCP / Contract Purchase
This can apply to both businesses and private individuals alike and involves paying a fixed monthly payment throughout the duration of the contract. At the start of the agreement an end of term value is agreed, which gives you the option to buy the vehicle outright, refinance the remaining amount or simply hand the vehicle back and walk away. Using this method, there is no VAT payable in relation to the finance payments, however VAT is applied to any optional services such as maintenance.
Finance Lease
When you choose a Finance Lease, you get a tax efficient solution which gives you the ability to finance the entire cost of the vehicle, including any relevant interest payments, over a fixed contract period. Alternatively, you can pay lower monthly payments and then a final 'balloon' payment on completion of the contract. As with Contract Hire, at least 50% of the VAT is recoverable, depending on the amount of personal usage.
Remember, the above is just a brief overview of the main options available, so if you have any further questions, then please feel free to Contact Us.
