The Benefits of Short-Term Flexi Leasing

Does your new or small business need a van but you’re not sure how long you’ll need it for? Are you looking to expand, and your new employee needs a van but only on a short-term basis? Do you have a kickass project coming up, but you won’t need a van after it’s completed? Are you waiting for your forever van to arrive but need something now to tide you over? Do you simply want to try before you buy and see if the right van suits your business needs? This is just a snapshot of scenarios but if you answered yes to any of these then you’ve come to the right place! We believe we have the answer. Introducing, our awesome take on Short Term Leasing, the 12 Month Flexi-lease! One simple idea, one simple solution. Our short-term flexi lease could be the answer to all your problems!

Benefits Of Short Term Flexi Leasing - Summit Vans

Short-Term Flexi Leasing

Here at Summit Vans, we understand that you need a van to make a living. Having the right van is an essential part of your business, an important asset, and the main tool of your trade. We also understand that it’s a big financial commitment and that one size certainly does not fit all. Whilst most leasing contracts tie you in for a standard 2-5 years, we know that not everyone wants or needs that long-term commitment. What you really want is flexibility. Great news! Our short-term leasing options give you the much-needed flexibility that you’re looking for.

Our vehicles are available on a flexible, 12-month lease term with only a small refundable deposit up front to pay. With no long-term commitments, you can enjoy the benefit of having a state-of-the-art new van every 12 months! Add to this the rapid improvements in technology, short term flexi-leasing means you can upgrade your van to a newer model with more frequency, giving you access to all the latest features and mod cons. There’s nothing better than the feel of driving a new van so why not do it more regularly?

Flexibility is obviously the main factor here, but there are more cool benefits to flexible leasing. Such as lower monthly payments or more importantly fixed monthly payments. We understand there are lots of costs involved in running your business so short-term leasing gives you the security you need to budget effectively.

Along with the chance to get an awesome brand-new van every 12 months, other benefits of flexi-leasing include tax deductions, road fund licence and no hassle when it comes to resale. If that wasn’t enough our short-term van leasing provides a generous monthly milage allowance, a manufacturer’s warranty, servicing included, and nationwide delivery is available. It’s the hassle-free way to get started, so keep things simple with flexi-lease.

What Are The Benefits Of Short Term Flexi Leasing Featured Image 600 X 400 Pixels - Summit Vans

So, if a short-term solution is what you’re after, there’s no need to look any further than our 12-month Flexi-lease. It’s the easiest way to short term lease your next epic van! View our range of available vehicles here or drop us message here to find out more. Your next adventure awaits.

The Difference Between Personal & Business Van Leasing

Personal VS business vehicle leasing – what’s the difference?

So, let’s start by defining what vehicle leasing is. Essentially, it’s the long term rental of a new vehicle, and there’s two options to choose between: personal and business vehicle leasing (or contract hire as we call it here at Summit Vans). They’re both pretty similar in terms of their processes, but there are some key differences between the two, which we’ll outline below.

First things first, personal car or van leases are for private use, whilst business car or van leasing enables companies to hire new vehicles for work purposes. But whether you’re leasing a vehicle for personal or business use, an upfront deposit will be required and then monthly instalments thereafter for a set period. The higher the initial deposit, the lower the monthly repayments and remember: these payments don’t go towards owning the vehicle. At the end of the lease agreement, the vehicle keys are returned. And there’ll be nothing additional to pay, provided you’ve stuck to the pre-agreed annual mileage and kept the vehicle in good condition. When your lease agreement ends, you’ll make the final monthly repayment and will then have the option to start a new lease with a brand-new vehicle!

 

Who is responsible for the lease agreement?

If you take out a personal car lease, then the leasing company will run a credit check to ensure you personally can afford the monthly repayments on the vehicle. It’s very likely you’ll need to provide the following details: photo ID, proof of address, bank details and your employment/income details. Unlike personal car leasing where it’s the individual’s name on the paperwork, if it’s the company leasing a vehicle, then they’ll be responsible for signing all of the paperwork and making the payments.

 

Are there any differences in tax benefits between personal and business leasing?

 If you take out a personal car lease, you’ll have to pay VAT (value added tax) on top of payments you make each month. Businesses who lease cars or vans are able to claim back at least 50% of the VAT paid on the lease unless they are able to prove that the vehicle is solely used for business purposes, in which case they can claim back 100% of the VAT.

 

Are there any differences between mileage on a personal car lease and a business car lease?

 It doesn’t matter whether it’s a personal or a business lease, any and all contracts will come with an annual mileage limit. If you go over the agreed annual mileage limit, then there will be a fee to pay (for example, a 10p charge for every mile over the agreed limit). Annual mileage limits are often higher on business leases than they are on personal leases. This is because company cars or commercial vans tend to do a lot of travel up and down motorways as part and parcel of the job. The mileage will vary from deal to deal, but the maximum is generally 40,000 miles a year. It’s also worth noting that the higher the annual mileage, the higher the monthly repayments too.

 

How long can you lease the vehicle for?

One of the benefits that comes with leasing a vehicle is flexibility when deciding the length of the contract term. The majority of lease contracts are for either two and three years, but it’s also possible to arrange deals for four years and even five years. At Summit Vans,alongside our more traditional contract hire agreements, we also offer a 12 month flexi-lease agreement with no long term commitments and a range of quality, high-spec vans to choose from. So at the end of the 12 months, you can either return the vehicle and reclaim your deposit (providing the vehicle isn’t damaged), or jump into another brand new van for another 12 months!

In summary, whilst personal and business vehicle leasing are very similar, they do differ when it comes to tax benefits, annual mileage limits and whether the lease agreement is with you as the individual or with the business. Here at Summit Vans, we offer lots of business leases and even personal leases, and we are passionate about getting our customers in the right van with the right funding package. So if it’s a contract hire or flexi-lease you’re interested in, why not talk to one of our super friendly team members today?

What is Flexi-Lease? Making Your Van Lease Easy and Convenient

At Summit Vans, we know that when it comes to short-term leasing a van, the list of different leasing options can be confusing and impractical, with many of them tying you down for far longer than you originally intended to lease for. Leasing a van shouldn’t be that way. We know you want to go full throttle and get your vehicle with no hassle, no worries, and absolute convenience. Which is why we’ve highlighted Flexi-Lease as the easiest way to short-term lease your next awesome van.

A commonly asked question is, why lease rather than buy? Well that’s easy enough to answer. There’s a lot of cool benefits to leasing. These include lower monthly payments, the opportunity to get a brand spanking new van or ranger every few years, tax deductions and no hassle when it comes to resale. Plus, the obvious idea behind it is if you’re looking for something short term, why would you spend so much more and buy? Flexi-Lease is just so much simpler.

But what exactly is Flexi-Lease, and why is it beneficial?

The simple idea behind Flexi-Lease is to provide a flexible plan (the clue is the name!) for any length of hire. It saves you from having to choose between the slightly higher short-term costs of daily hire or tying you into the commitment of a long-term lease. This means you can just hire the vehicle for a certain number of months and have the convenience of rolling it as often as you require. Flexi-Lease is particularly handy to have if you have a short-term requirement for a van, but you’d rather avoid committing to a long-term contract for the hire.

So what is our Flexi-Lease model like?

Our Flexi-Lease payments are based on a £0 deposit and a monthly payment, spread over a 12-month period. A security fee is taken for each vehicle and this will be returned on receipt of the vehicle back, subject to no damage and no charges for extra mileage. What’s more, we can move your deposit into your next vehicle when you take another 12-month lease from us. Why? because we’re nice like that (and it makes it even easier for you to switch your vehicle with us)!

So, what are you waiting for? Our brand new, state-of-the-art vans are available through Flexi-Lease now, on a flexible, 12-month lease term with only a small refundable deposit up front to pay. View our range of available vehicles here and get in touch to enquire today.

 

Meet the Converted Vans…

Everything you need to know about our Converted Vans

If you’re looking for a Ford Van or a Ford Ranger with a difference, then our van conversions could be just what you’re looking for. You can choose from two van conversion packages: an exterior conversion only or an interior plus exterior conversion. In this blog post, we’re here to tell you more about just what you can expect from our converted vans and rangers…

Summit Converted Vans

Our exterior conversions for vans introduce a front Ford grille, a bumper diffuser and fog light surrounds plus our exclusive Summit Vans stickering. If you take it up a level to our fully customised conversion package, then you’ll get all of that plus our three-slat design and perforated leather seats, suede door card arm rests and passenger side suede dashboard with Summit Vans branding.

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Summit Converted Rangers

If a ranger is more your style, then you can make it even more you, with our conversion packages for rangers too. As before you can choose from an exterior only conversion which offers a front grille and arches on all quarters plus a front corner, you’ll get painted black roof rails and load rails and of course, our Summit branded stickering and just like our converted vans, there’s the option of our interior customisation too.

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So to recap, at Summit Vans we offer two levels of conversion for our Ford Transit and Ford Ranger collection. Here are the details:

Converted Vans Converted Rangers
Conversion Package 1 (Exterior only) Front grille Front grille
Bumper diffuser Arches on all quarters
Fog light surrounds Front corner
Summit branded stickering Painted black roof rails and load rails
Summit branded stickering
Conversion Package 2 (Exterior & Interior) All conversion package 1 All conversion package 1
Three slat design & perforated leather seats Three slat design & perforated leather seats
Suede door card arm rests Suede door card arm rests
Passenger side suede dashboard with Summit branding Passenger side suede dashboard with Summit branding

If you’re interested in leasing a van with one of our conversion packages, please contact our friendly team today.

What is Contract Hire?

What is Contract Hire?

In simple terms, Contract Hire (Business Contract Hire or Personal Contract Hire) is a method of funding for the use of a vehicle for a set period of time, essentially like hiring a vehicle, but not the overall ownership of it.

It allows you to choose the vehicle you want, use it for a set period of time and an anticipated mileage and then give it back at the end of the period of hire. The risks are therefore with the leasing company under contract hire agreements.

The customer rents the vehicle for a fixed period of time and pays a fixed (normally monthly) rental for the use. The customer is not responsible for the disposal or sale price of the vehicle at the end of the contract – which makes it a very easy and risk free way to run a vehicle.

The only risk to the customer is where the agreed mileage limit is exceeded or if the vehicle is not maintained and kept in good condition.

What do the rentals cover?

The rentals paid by the customer should cover the depreciation costs of the vehicle over the term of the agreement plus interest, but not the full cost of the vehicle. The leasing company will have a residual value risk at the end of the term.

Payments

Deposits are not taken, however Advance Rentals are usually paid by the customer at the start of the term. The amounts are usually agreed by the customer and the leasing company but three, six or nine advance rentals are common.

The payments made are based on the price of the vehicle, the term of the lease and agreed mileage.

The rentals during the remainder of the terms will be ‘spread’ equally over the term, or there may be a terminal pause.

All the rentals will attract VAT at the current rate.

During an agreement

The customer agrees to make regular rental payments to the leasing company as per the Contract Hire agreement and must keep the vehicle fully insured and in a roadworthy and good general condition.

Service and maintenance plans are sometimes incorporated into Contract Hire agreements to provide the customer with fixed cost motoring which can help with budgeting and planning.

The end of the agreement

At the end of the contract term, the customer will have paid all the agreed rental payments. The vehicle would be returned to the leasing company and the customer is not responsible for the sale of the vehicle.

If the vehicle has exceeded the agreed mileage, than a pence per mile charge plus VAT would apply to each mile over the agreed amount.

If the vehicle has not been maintained or serviced according to the manufacturer’s recommendation, or ‘fair wear and tear’ has been exceeded, the customer would be charged to compensate for the poor condition of the vehicle.

A Contract Hire agreement can be settled at any point during the term, however penalties for doing so are often high.

A customer can request to extend the length of the contract past the originally agreed period; there may be a change in the rental amounts to do so.

What are you waiting for?

The benefits of a Contract Hire agreement to a customer are vast. With a fantastic choice of vehicles and an affordable way of having a new car every few years, what is there to lose?

Contact us today to find out how we can help you!