Right Finance
Business vehicle finance options.
Because each business is unique, each will have different financial objectives that they need to achieve with the purchase of a new vehicle, so it’s important to us to provide you with choice. Because Driveline is independent of finance houses, we can offer you a choice of options, each with its own advantages and suitability, and the table below allows you to compare the different options and work out what’s right for your business. If you prefer some free objective advice then just give one of our team a call on 0800 275 374 or give us some details and we’ll come straight back to you.
Driveline also offer pre-approval on all finance options – Because we want you to be able to have your new vehicle straight away, complete our pre approval form so there’s no delay in taking delivery.
Click on a tab to view the different types of finance available.
Please note : The following table and references contained within it is not intended as tax advice. We strongly recommend that all customers obtain independent tax and legal advice before entering into this or any other finance or lease agreemment with either Driveline or its prime finance providers. Information with respect to Finance and/or Operating Leases relates only to the tax treatment of the Lease Agreement. This may differ from the correct accounting treatment
Please note : The following table and references contained within it is not intended as tax advice. We strongly recommend that all customers obtain independent tax and legal advice before entering into this or any other finance or lease agreemment with either Driveline or its prime finance providers. Information with respect to Finance and/or Operating Leases relates only to the tax treatment of the Lease Agreement. This may differ from the correct accounting treatment.
| Description | Suits | Advantages | Tax | Maintenance | End of term |
|---|---|---|---|---|---|
| Popular with more than 75% of our customers, an exclusive Driveline Smartlease is a vehicle lease that gives your company the inherent benefits of ownership with the flexibility of leasing by allowing your company to treat the lease payments as up to a 100% tax deductible expense. Driveline’s Smartlease lets you choose the term of the lease for a period between 12 and 45 months and also offers more fexible terms than a traditional lease during and at the conclusion of your chosen term. | Because of the obvious tax benefits, Smartlease is suitable for and popular with businesses, sole traders and private buyers – smartlease is available on new and used cars. | A Driveline Smartlease combines the inherent benefits of ownership with the taxation benefits of leasing. By choosing how much you pay upfront you determine how high your monthly payments will be. You can determine and pay for your own maintenance requirements rather than having unecessary charges built into your contract, or if you prefer, we can take care of this via a maintenance contract. | Monthly payments are up to 100% tax deductible as an operating expense and we have all the information your accountant will need to put this through your books. FBT By applying Driveline’s buyer discount to the purchase price you have lower upfront costs, thereby reducing FBT charges. |
Driveline’s smartlease is highly flexible with no restriction on kilometres and flexible early termination charges and no fair wear and tear charges. A maintenance contract can be built into your lease which is suitable for companies with a fleet of 40 cars or more. | You can offer to purchase the vehicle at a residual value agreed upon at the commencement of the lease – creating profit for you, not the lease company, following the sale of your vehicle. No fair wear and tear charges. |
Spread your lease over a longer period to improve cashflow by reducing your monthly payments.
| Description | Suits | Advantages | Tax | Maintenance | End of term |
|---|---|---|---|---|---|
| Driveline’s Finance lease is a vehicle lease which is stretched over a longer period (more than 46 months) which, in conjunction with the use of a residual (value?)allows you to reduce your monthly payments. | A Finance lease is suitable for those conscious of monthly cashflow, including businesses, sole traders and private buyers. | The lower monthly payments are achieved through use of a residual and longer lease term (over 46 months). | Businesses can claim depreciation and the interest content of their finance payments. FBT By applying Driveline’s buyer discount to the purchase price you have lower upfront costs, thereby reducing FBT charges. |
No kilometre restrictions and flexibility over how the vehicle is managed during the term. Reduced early termination charges. | You can offer to purchase the vehicle at a residual value agreed upon at the commencement of the lease – your profit. |
Allows you to release some working capital into your business.
| Description | Suits | Advantages | Tax | Maintenance | End of term |
|---|---|---|---|---|---|
| Driveline’s sale & leaseback option is a finance package which is applied to your vehicle fleet at up to 85% of the current market value. | Businesses & sole traders with a fleet of more than xx vehicles. | Allows you to release working capital that is currently tied up in your vehicle fleet, which can then be applied to more productive investments. | The lease back is a fixed cost and you don’t need to account for depreciation and interest content. FBT By applying Driveline’s buyer discount to the purchase price you have lower upfront costs, thereby reducing FBT charges. |
Extended mechanical warranties are available. |
Is it right for you?
| Description | Suits | Advantages | Tax | Maintenance | End of term |
|---|---|---|---|---|---|
| The more traditional fully maintained lease includes an agreed kilometre allowance, fair wear and tear charges and early termination charges. | Driveline’s exclusive Smartlease is generally more advantageous for our customers. | FBT By applying Driveline’s buyer discount to the purchase price you have lower upfront costs, thereby reducing FBT charges. |
Fair wear and tear charges, agreed kilometre allowance. | No reflection of lower kilometre usage in resale value. |
Flexible deposits and payments, with ownership transferring to your business at the contract conclusion.
| Description | Suits | Advantages | Tax | Maintenance | End of term |
|---|---|---|---|---|---|
| Hire purchase is one of the most traditional means of financing a vehicle meaning that you own the vehicle and make structured monthly payments. | Businesses and private buyers. | Once you have paid the final monthly payment you own the vehicle and can spread the payments by up to 60 months to reduce monthly outgoings. | You claim depreciation and interest content of finance. FBT By applying Driveline’s buyer discount to the purchase price you have lower upfront costs, thereby reducing FBT charges. |
Ownership of the vehicle passes to you on the final payment. |
