Finance
As a GOLD Approved Blackhorse Finance dealer, we are able to offer a wide range of flexible finance packages to suit everyone's pocket. These include Hire Purchase with repayments over 1- 5 years, PCP and Personal Loans.
Hire Purchase:
The traditional, but still ever popular, funding option which gives the customer eventual ownership of the vehicle.
A fixed cost, fixed period loan that allows you to spread the cost of the vehicle over a period of up to five years. The user is effectively the owner of the asset, but legal title to the car does not pass until the loan is fully repaid including the final payment which includes a nominal "option to purchase" fee. Monthly payments cover the capital cost plus interest and do not carry VAT. For business users the vehicles will be ON Balance Sheet.
Lease Purchase:
For Private individuals and companies that want eventual ownership of the vehicle.
A funding agreement where the company acquires ownership when all the payments, including the option to purchase fee have been made. Part of the capital cost of the vehicle payment may be deferred into a "balloon" payment at the end of the agreement which equates to the anticipated value of the vehicle at the end of the leasing period.
Variable Rate / Balanced Payments:
This product is similar to Hire Purchase and Lease Purchase in that you own the vehicle at the end of the agreement.
Where it differs is that the rate or term is variable and that large payments may be made during the term of the agreement without penalty giving additional flexibility. This product is only available for balances exceeding £25,000 or for Limited companies.
Buy your own company car:
Have you been offered a "Cash for Car" alternative by your employer?
If you have, can you answer the following questions:
- Taking account of all the tax implementations, How much can you spend?
- What financial options or packages are available to you?
- Which vehicles can you afford under your chosen financial option?
- The effect of your moving to a different employer offering no cash alternative?
What changes have there been?
From April 2002 the calculation of the taxable benefit associated with the provision of a company car has changed. The intention now is that the list price of the car will be adjusted by a variable based upon carbon dioxide (CO2) emissions but, most importantly, without any reduction when business miles exceed 18,000 or the car is over 4 years old. The present Government intends that the benefit associated with the provision of a company car will increase each year between 2002 and 2006.
What are the new scale charges?
| Scale Charge Calculator |
| g/kg of C02 |
% of list price |
| 2002 / 2003 |
2003 / 2004 |
2004 / 2005 |
Charged as TAX |
| 165 |
155 |
145 |
15* |
| 170 |
160 |
150 |
16* |
| 175 |
165 |
155 |
17* |
| 180 |
170 |
160 |
18* |
| 185 |
175 |
165 |
19* |
| 190 |
180 |
170 |
20* |
| 195 |
185 |
175 |
21* |
| 200 |
190 |
180 |
22* |
| 205 |
195 |
185 |
23* |
| 210 |
200 |
190 |
24* |
| 215 |
205 |
195 |
25* |
| 220 |
210 |
200 |
26* |
| 225 |
215 |
205 |
27* |
| 230 |
220 |
210 |
28* |
| 235 |
225 |
215 |
29* |
| 240 |
230 |
220 |
30* |
| 245 |
235 |
225 |
31* |
| 250 |
240 |
230 |
32* |
| 255 |
245 |
235 |
33** |
| 260 |
250 |
240 |
34*** |
| 265 |
255 |
245 |
35**** |
| Diesel Supplements: |
| * |
add 3% for cars which run solely on diesel. |
| ** |
add 2% for cars which run solely on diesel. |
| *** |
add 1% for cars which run solely on diesel. |
| **** |
maximum charge - no diesel supplement. |