HP Balloon

HP Balloon is a type of HP agreement for businesses, which lets customers spread the cost of their vehicle over 36 to 48 months. The final balloon payment makes the monthly repayments lower compared to a regular HP agreement. At the end of their agreement, customers can choose to retain or replace the vehicle.

Good for business customers, if:

• they want to free up cashflow for their business and want lower monthly repayments in comparison to a HP.
• they want to spread the repayments over 36 to 48 months.
• they’re happy to pay a larger balloon payment at the end of their agreement if they keep the vehicle.
• they’re a limited company and want to claim monthly interest (tax deductible interest), offset wear and tear costs against taxable income and deduct capital allowances from taxable income.

VAT Assist

VAT Assist works like a traditional HP agreement, but lets customers defer an amount equivalent to the VAT to later in their agreement. Available only on LCV’s, payments are spread over 24 to 60 months, with the VAT equivalent being taken on the third instalment.

Good for business customers, if:

• • they’re VAT registered.
• • they want to flow up cashflow for their business.
• • they want the option to pay a deposit but don’t have to.
• • they liked fixed repayments and a fixed interest rate which can be spread over 24 to 60 months.
• • they want to own the vehicle at the end and not pay a lump sum at the end of their agreement.

Fleet Funding

Subject to a full application, Fleet Funding helps businesses free up cashflow by making an amount available to replace or grow the number of cars, vans or bikes on the road. Once approved, our team will help source the best vehicles to suit their business needs through our dealer network.

Good for business customers, if:

• • they’re looking to spread the number of vehicles on the road.
• • they want to spread the cost of these additional or replacement vehicles.
• • they want support from our dedicated business specialists.