Business Car Finance

Looking to purchase a new business vehicle? Find the best cash-flow friendly options for your business, including BCH and BHP.

We appreciate that each business is unique and will have different needs when it comes to financing businesses vehicle purchases.

We have skilled and dedicated Business Sales Specialists who are able to help you understand how best to finance your vehicle for business purposes, whether you are a company car driver or fleet manager.

With retailers in some of the country's top locations, including World Heritage sites and the Lake District National Park, we operate across Cumbria, Lancashire, Newcastle upon Tyne, North Yorkshire, and Scotland.

From taxation implications to cost of ownership calculations, our dedicated Business Sales Specialists are here to help identify the right car and finance solution for you.

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Why finance business cars?

Learn how car finance can benefit your business:

Savings

It can help you save money on tax, maintenance, and fuel costs. Depending on the type of finance you choose and the type of car you buy, you might be able to claim tax deductions, benefit from lower maintenance costs, or enjoy better fuel economy.

Cash Flow

It can help you avoid tying up cash reserves or impacting cash flow. By spreading the cost of the cars over time with monthly payments, you can preserve your working capital and cash flow for other business purposes.

Choice

It can help you choose from a wide range of new models and features. With car finance, you can access a variety of brand-new cars that suit your business needs and preferences. You can also customise the cars your business needs with optional extras such as sat-nav, leather seats, or multimedia systems

How Does Business Car Finance Work?

Business car finance works by letting you borrow money from a lender to buy cars for your company. You then pay back the loan over an agreed term with interest and fees.

The amount you can borrow, the interest rate, and the repayment term depend on various factors such as:

The type of finance you choose
The value and condition of the cars
The credit rating and financial history of your business
The deposit and balloon payment (if any) you make

You can choose from different types of business car finance depending on whether you want to own the cars at the end of the term or lease them for a period of time.

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What is the best business finance option for you?

You will need to assess the affordability of the finance type, plus any terms and conditions for your business that come with this type of loan or contract. To help you decide on the best vehicle financing options for your business, you will need to think about:

How much you can afford to borrow.
How long you want the car for.
How you intend to use it.

To make driving a new or used car from Lloyd Motor Group as affordable and simple as possible, we offer a range of business finance options that can be tailored to meet each of our corporate and business customer’s requirements and circumstances.

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We have a variety of business car finance options available. Read below to learn more:

Business Contract Hire

Business Contract Hire is useful if you receive a company car allowance. This is a commonly-used solution for company car drivers and business owners. It is the same as Personal Contract Hire, but payments are calculated as being “+ VAT”, and you may able to claim back some of the rentals and VAT depending on the CO2 emissions of the vehicle. Our centres have dedicated Corporate Specialists to help you identify whether this is a cost-effective solution for your business.

Benefits of Business Contract Hire

Fixed leasing fees to improve your cash flow with fixed low monthly payments
Leasing allows you to benefit from an additional source of funding, leaving you to concentrate on running your business
Be safe in the knowledge your vehicle is being maintained by dealers using genuine parts
No more maintenance bills or suspicious garage costs if you choose our maintenance-inclusive contracts

The flexibility of initial lease options.
No worries about disposing your car at the end of the contract.
You can also choose the convenience of various service, maintenance and repair packages.
Eliminates the hassle of vehicle disposal. When your agreement comes to an end, you can hand back the keys of your vehicle with nothing more to pay, or take out a new agreement for the vehicle of your choice.

Business Hire Purchase

Hire purchase are finance agreements for business vehicles, for non-VAT registered businesses that want to own their vehicles.

Benefits of Business Hire Purchase

It makes budgeting easier as it allows you to spread the cost of payments over an agreed period of time.
You can enjoy the flexibility of no mileage limitations.

It allows flexibility of payments. You can choose lower monthly payments by paying a larger value or balloon payment at the end of your agreement.
At the end of the agreement you will have ownership of the vehicle.

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