We pride ourselves at being the best in the business at managing fleet vehicles, catering for small, medium and large fleets in passenger and commercial vehicles. We already manage some of the largest fleets in Ireland and have all the experience and knowledge to keep business moving.
Ford and Ford Credit offer a variety of finance and leasing schemes to suit the purchasing needs of the business buyer. With our wide choice of plans and services no one is more committed to delivering complete motoring confidence and total peace of mind than Ford.
If you want the benefits of a Hire Purchase Agreement but are using your Ford for business purposes, then an Unregulated Hire Purchase Agreement may be the right one for you and your business. Features and benefits: Hire Purchase is a finance agreement whereby your chosen vehicles are purchased, on your behalf, by Ford Credit and hired to you / the business for a pre agreed term usually 3-5 years. With Hire Purchase, you spread the cost of ownership by instalments to cover the purchase cost, plus interest over a fixed term. For business and taxation purposes, vehicles acquired under a Hire Purchase arrangement are treated as fixed assets of the company with the amount being treated as a liability.
The interest costs may also be written off over the term of the agreement. The VAT amount on the vehicle can be claimed back from Revenue in one upfront payment at the beginning of the agreement (subject to vehicle qualification for VAT rebate). Benefits of Unregulated Hire Purchase:
- The product is a straightforward one with no tax implications on completion of the agreement.
- Fixed instalments provide for more accurate budgeting and forecasting.
- Funding vehicles by way of a separate line of credit leaves working capital free to be used in the business.
A business can lease their Ford for an agreed period in exchange for a fixed rental. Title to the vehicle remains with FordCredit for the duration of the agreement. There are two types of lease available to your business. Contract Hire is similar to a finance lease. However, it includes an arrangement agreed at the outset whereby, the vehicle is returned to the supplying Ford Dealer on completion of the lease term.
- Benefits of Business Lease Fixed Term Contract Hire
- Makes it easier to update your Ford every 2, 3, 4 or 5 years
- Lower fixed rentals allow accurate budgeting and forecasting and are a protection against interest rate fluctuations.
- Lease rentals are deductible for tax purposes (subject to current legislation).
- Residual and disposal values risks are eliminated.