Finance | Isuzu Truck

Operating Lease

The Customer pays rentals over a fixed term less than the market cost of the vehicle as a Residual Value is applied based on the asset usage
At the end of the agreement the Customer will not own the vehicle
The Vehicle is subject to return conditions; Excess Mileage, Damage Fees etc
The Vehicle must be maintained and serviced in line with the Isuzu Truck (UK) Ltd Manufacturers recommendations
The Vehicle and lease obligations are not shown on the Customers balance sheet
VAT is collected, and reclaimed, on each rental as it falls due
Rental payments are fully tax allowable

Hire Purchase

Hire Purchase is sometimes known as Lease Purchase, it’s a contract where the Customer has the option to acquire the vehicle once the agreement, and option to purchase fee, have been paid
The full cost of the vehicle plus charges are paid over an agreed term with the option for a balloon payment if required
The vehicle, and sum due on the Hire Purchase agreement, is shown on the company balance sheet
A minimum deposit of all the VAT on the vehicle is paid upfront and can be reclaimed at the outset of the agreement
Customer can claim capital allowances and interest payments against tax

Finance Lease

The Customer pays the cost of the vehicle plus charges over an agreed term, but will not own the vehicle at the end of the agreement
Following payment of the full cost of the vehicle plus charges the agreement enters a secondary period where a peppercorn rental is paid annually
VAT is not paid on the vehicle cost at the outset but collected on each rental
Rental payments are fully tax allowable
Balloon payments can be used on Finance Lease agreements but fall due prior to the secondary rental period
Following the initial agreement term the Customer can sell the vehicle on behalf of BNP Paribas and can share the sales proceeds

Aftersales

Customer CARE

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