Buy/Hire Purchace/Contract Hire/Leasing

[Highland Forestry]

Any ideas on the pros and cons of Leasing a vehicle??

I've had so many problems with my L200 I think it;s time to replace it, but cant decide what to replace it with and cant decide wether to buy a vehicle or wether to lease a new one or even hire purchase a vehicle??

 

There are allot of tax benefits to lease hire and hire purchace but can anybody share their experiences?

 

I was talking to a friend of mine today that mentioned there are alot of clauses with contract hire and leasing whcih can be costly at the end of the agreement...

[niftysteve]

i think some of the lease purchase deals you have a balloon payment at the end of the contract my accountant told me to hire purchase as once the payments are finished you will own the vehicle

[Stephen Blair]

its much of a mucmness, the problem with leasing a work vehicle is that you are almost guaranteed to do some damage to it, so they will hang you out to dry, if you want to keep your money, hire purchase. if you have a big pile of money and want to spend it, buy new, get big tax relief(60% on comercial the first year) and you will get a warranty. so you can almost guarantee happy no more expense motoring. personally i wouldnt borrow for more than 3 years on a works vehicle.

[Steve Bullman]

100% in the first year now stevie

[Johny Walker]

100% in the first year now stevie

 

is that 1st yr off trading or 1st off new truck ? p/s has that firm got in touch yet

[Stephen Blair]

100% in the first year now stevie

 

why i am i driving an old 07 plate, me needs to go shopping me thinks:001_smile:cheers steve

Edited March 25, 2009 by Stephen Blair

[Steve Bullman]

you can claim 100% of a vehicle against your tax now the same year you buy it.

 

i spoke to that guy you gave me the number for today....he informed me its been passed to the relevant people to deal with and they will be in touch, thanks for that