At Furrows Transit Centre we understand how important it is to keep your business on the move. Whether you're a start up, expanding your fleet or thinking of replacing your existing vehicle, we have the right Ford commercial vehicle to help you go further.
Use the table below to work out which kind of commercial vehicle finance is best for you and your business.
|Plan Features||FORD ACQUIRE||FORD CONTRACT HIRE||FORD FINANCE LEASE|
|Available from Furrows Transit Centre||YES||YES||YES|
|Option to own the vehicle*||YES||NO||NO|
|Vehicle age||New and used vehicles (age limits apply)||New and used vehicles up to 12 months old||New and used vehicles up to 12 months old|
|Finance term||12 to 60 months (maximum term 48 months for Ford Acquire with balloon option)||Any term, 24 to 60 months||Any term, 24 to 60 months|
|Typical advance rental/deposit||Zero deposit available. VAT normally paid up front for commercial vehicle customers||Minimum one month's rental. Typically 3 months' rental||Minimum 1 months' rental. Typically 3 months' rental|
|Fixed monthly payments/rentals||YES||YES||YES|
|No responsibility for vehicle disposal||NO||YES||Vehicle sold on lessor's behalf. 100% of the Sales Proceeds are returned to the lessee|
|Flexible end of contract options||Renew/Retain||Renew/Retain||Renew/Resale|
|Ford Fleet Accident Management||Included||Included||Included|
|Optional maintenance/service packages||Ask a member of our Sales Team for more details||Available at additional cost||Ask a member of our Sales Team for more details|
|Road Fund Licence||Included for the first year||Included for the duration of the agreement||Included for the first year|
|VAT on monthly payments||No VAT on payments but VAT on vehicle may be recoverable||VAT registered businesses may be able to reclaim all or part of the VAT element of monthly rental||VAT registered businesses may be able to reclaim all or part of the VAT element of monthly rental|
|Off Balance Sheet funding||NO||YES||NO|
|Taxation (customers are advised to seek personal advice)||Writing down allowances may be available. Interest cost may also be offset||Tax allowable rentals||Rentals allowable against taxable profit|
|Commercial line of credit available||YES||NO||NO|
|FIND OUT MORE||FIND OUT MORE||FIND OUT MORE|
Frequently asked questions
Are there any tax or VAT benefits when financing business vehicles? The tax and VAT benefits differ for each company. Customers are advised to seek independent financial advise before making any decisions about acquiring a vehicle for their business.
Do Ford charge a fee for setting up agreements? There are no fees for Ford Contract Hire and Ford Finance Lease. The standard fee for Ford Acquire plans varies dependent on Marketing Promotions available at that time.
Who owns the vehicle?
Ford Acquire: Your business will own the vehicle once all payments (including the final balloon payment where applicable and the Purchase Fee) have been made.
Ford Contract Hire: Ford Lease (the lessor) is the legal owner of the vehicle however, the customer (the lessee) is responsible for any service, maintenance and repair costs (unless covered by an optional maintenance agreement**) plus any additional costs such as parking fines, traffic violations or accident damage.
Ford Finance Lease: Ford Lease (the lessor) is the legal owner of the vehicle and the customer (the lessee) is the registered keeper of the vehicle. The customer is responsible for any service, maintenance and repair costs, plus any additional costs such as parking fines, traffic violations or accident damage.
Business users only.
*Subject to all payments (including Purchase Fee) being paid.
**at additional cost