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Hansar Finance298 Deansgate
Manchester
M3 4HH
Tel: 0161 953 3200
Fax: 0161 488 4567
Email: sales@hansar.co.uk
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Nobody is more dedicated to getting bus and coach operators exactly where they want to be than Hansar. As part of the Alliance & Leicester Group, we can offer competitive financial solutions whist continuing to uphold the Hansar tradition of promoting a first class, friendly and personal service.
Choic3sTM is designed to provide you with the control of ownership, but provide you with more options and greater flexibility at the end of the agreed finance term compared to alternative funding options. There is one simple agreement to cover the hire period. This will typically run from 12 months up to 84 months with a minimum advance of £25,000. A future value of the vehicle at the end of the hire period is built into the agreement resulting in lower payments when compared to a typical hire purchase agreement for example.
As this is a flexible product you will have 3 options at the end of the agreement:
- To hand the vehicle back to Hansar with nothing more to pay, subject to return conditions being met.
- To keep the vehicle and take ownership by paying Hansar the future value and the option to purchase fee.
- To keep the vehicle through financing the future value with Hansar.
Should you wish to re-finance the future value a new hire purchase agreement will be set up, the details of which can only be negotiated prior to the end of the initial agreement. On completion of this new agreement vehicle ownership will pass to you where you will not have the option to hand the vehicle back to Hansar.
- Cheaper monthly payments compared to a typical hire purchase agreement allowing you the option of saving money or financing a vehicle with a higher specification that fits your repayment budget.
- You can defer the decision of vehicle ownership until the end of the finance agreement rather than having to make up your mind at the outset of the agreement.
- Extended choice and flexibility as you have three end of term options where you can either keep the vehicle or return it to Hansar.
- Should you decide to keep the vehicle there are no return conditions.
- You should be able to claim writing down allowances as the implied owner therefore reducing the effective cost of the finance, and interest paid is normally treated as a revenue expense in your profit and loss account therefore reducing taxable income. You should discuss your specific circumstances with your accountant.
- You have the opportunity to profit from sale proceeds should you keep the vehicle and then sell it for more than the guaranteed future value.
- As you do not have to purchase the vehicle you cannot suffer from a reduction in the vehicles future value therefore you have the benefit of ownership without taking the future vehicle value risk.
- Simple and quick to arrange therefore saving you valuable time.
Hire purchase is a method of funding assets where you will ultimately own the asset. It is also a tax efficient* method of acquiring assets where you pay a fixed amount over a specific period to cover the cost of the asset and the interest charges. Financing your assets in this way will enable you to free up capital for your business.
This service is provided to you at competitive rates, where repayments can be tailored to meet your precise needs. For example, a 'balloon' payment can be included that reflects the assumed value of the asset at the end of the agreement. This has the effect of lowering the regular payments you make over the period of the agreement.
- Competitive - highly attractive interest rates
- Cost efficient* - you can normally recover the writing down costs and the VAT on the assets, and the interest element of the repayments can be offset against taxable profit
- Tailored - repayments to suit you cashflow
- Speed - fast turnaround on decisions
- Choice - Option of lower repayments
- Ease - We will take care of almost everything
With a finance lease you will lease your assets from us over an agreed period. It is a tax efficient* method of leasing assets where repayments are spread over the economic life of the asset. Financing your assets in this way will enable you to free up capital for your business.
This service is provided to you at competitive rates, where repayments can be tailored to meet your precise needs. For example, a 'balloon' payment can be included that reflects the assumed value of the asset at the end of the agreement. This has the effect of lowering the regular payments you make over the period of the agreement.
Although you will never own the asset, a finance lease does offer you the practical benefits of ownership without some of the potential burdens. For example, when the asset is sold at the end of the period the sales proceeds will be returned to you, less a small charge payable to us.
- Competitive - highly attractive interest rates
- Cost efficient* - you can normally claim both tax relief and VAT on the rentals paid.
- Tailored - repayments to suit you cashflow.
- Speed - fast turnaround on decisions
- Choice - Option of lower repayments
- Flexible - At the end of the agreement you can opt to continue to use the asset by paying a one off agreed charge.
- Ease - We will take care of almost everything
With an operating lease you will lease your assets from us over an agreed period. We build in a residual value (the value of the asset at the end of the period) which reduces the repayments, therefore bringing cash-flow benefits to your business. Operating lease also typically allows for 'off balance sheet' funding and tax benefits*.
Although you will never own the asset, an operating lease does offer you the practical benefits of ownership without some of the potential burdens. For example, as we will obtain the asset from you at the end of period (subject to return conditions) you do not need to worry about disposal or depreciation of the asset.
- Competitive - lower repayments compared to alternative finance options.
- Cost efficient* - rentals can normally be offset against taxable profit and the asset is normally treated as 'off balance sheet'.
- Cash friendly - no need to tie up your capital
- Speed - fast turnaround on decisions
- Flexible - lease periods typically from 3 to 7 years
- Straightforward - no disposal or depreciation worries
Finance payments tailored to your monthly budget requirements for example lower repayments during the quiet winter months and high repayments throughout the summer season to take account of cash flow.
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* Any tax benefits depend on your tax position and the asset funded, on which you should take specialist advice
All finance is subject to status. Terms and conditions apply. 'Hansar Finance' is a trading style of Alliance & Leicester Commercial Finance plc. Registered in England: 01533123. Registered Office: Carlton Park, Narborough, Leicester LE19 0AL. A member of the Alliance & Leicester PLC Group.