CHRYSLER FINANCE LEASE

NO RESPONSIBILITY OF OWNERSHIP


Finance and LeasingWith a finance lease, your vehicle is hired to you for a fixed period - without you owning it. Following payment of your final monthly rental, the vehicle must be sold to a third party. If the contract has a balloon payment, that amount is due at this time.

The rental payments include VAT, which you may be able to recover if you are VAT registered. At the end of the agreement period, three options are available to you:

Option 1 Retain the vehicle for a further 12 months by extending the agreement. This option may be exercised only once (please note that if your contract is regulated under the terms of the Consumer Credit Act 1974, this option is not available to you).
Option 2 Sell the vehicle to an independent third party for a fair market value. We will invoice the third party on your instruction and then return 95% of the sale price to you.
Option 3 Return the vehicle to us. We will then sell it and return 95% of the net proceeds to you, after deduction of auction and collections fees.

Benefits:

  • Use without ownership of the vehicle
  • Eliminates capital expense
  • Improved cash flow
  • VAT reclaimable
  • You benefit from the net sale proceeds
  • Rentals allowable against taxable profits (proportionally)