Methods used to finance Business Vehicles or Equipment include:-
Finance Lease
This means:-
- An arrangement where a financier purchases the vehicle/equipment and then leases that vehicle/equipment to you for an agreed term and rental amount. You indemnify the financier for the residual value of the vehicle/equipment at the end of the lease term;
- In most instances, the equipment is sufficient security;
- Rental payments may be tax deductible depending on circumstances. Please contact your Accountant or Tax Adviser to see if these or other tax benefits apply to you.
Chris George
Business Vehicle and Equipment Finance