Electric Vehicle Finance for Businesses

There has never been a better time to switch your fleet or business vehicle to electric

Systems Finance are here to help guide you through the process when it comes to electric vehicle finance. Whether you are a personal buyer or a multi vehicle fleet operator, we can advise on the best finance options available to you and your business.

It is apparent that electric vehicles are the future and the government has introduced several schemes to support the movement to further incentivise. Click here for more information on these tax benefits and grants available through the government initiatives. But for more information on types of finance available, please read below for more information.

Electric Vehicle Finance Agreements

If you have previously purchased a new vehicle then you are likely to be aware of the different agreement types on offer. You may have considered Finance Lease, Balloon Lease, Contract Hire, Contract Purchase or Hire Purchase.

However, if you are looking to own the vehicle at the end of the agreement then a finance option using a Contract Purchase or Hire Purchase agreement could be the best option for you.

Business Contract Purchase

Our business contract purchase agreements provide a range of benefits to your business and allows you to own the vehicle at the end of the agreement. A business will pay fixed monthly rentals on a brand new vehicle over an agreed period between 2-5 years.

The benefits

Claim Capital Allowances – The vehicle will appear on the balance sheet allowing you to claim capital allowances.

Accounting and Operational– Fixed monthly payments for easy budgeting and less time spent on admin with our vehicle finance division taking care of this for you.

Get better value– Fixed costs and the option to reduce taxable profits through tax writing down allowances.

VAT Efficient– Recover VAT on the finance rental.

Hire Purchase

A hire purchase agreement involves paying off the full value of the car in monthly instalments and so is similar to a bank loan. However, in this case ownership of the vehicle remains with the us ‘the finance company’ until the final payment is made on the agreement.

The Benefits

Interest Charges Lower– With the rate of repayment being much faster the interest charges are lower than deferred purchase finance.

Excess Mileage– If you are unsure on the number of miles you will be doing per annum, this is not an issue with a hire purchase agreement. There are no additional charges for excess mileage or damage to the vehicle.

Own the Vehicle – As soon as the agreement is complete you own the vehicle without any additional fees.

How can Systems Finance help?

Here at Systems Finance we can help facilitate the most cost effective vehicle finance solution for your business. Whether you are looking to finance or lease a new car, truck, lorry or van… we can help you obtain the electric vehicles that your business requires with brilliantly low monthly payments.

Please get in touch today! Our dedicated vehicle finance division would be happy to provide a quotation on the vehicles of your choice.