We offer interactive Finance facilities on our website to help you choose and purchase your next used vehicle. Did you know you could:
- Find your next vehicle based on your Monthly Budget with our Used Search Facility (opposite – simply choose your budget and click search).
- Tailor your finance example to suit your needs, by amending the deposit and annual mileage you can see the immediate effect this will have on the monthly payments.
- Watch the Videos below to get a clear and simple understanding of the different types of finance products we have available.
- Apply for finance online – when you have found the used car of your choice click to use our simple online car finance checker.
The Heritage Automotive finance team can offer the following:
Hire purchase is the simple and straightforward way to pay for your vehicle. You can pay for your car over one year to five years and once all of the payments have been made, you become the owner of it.
Lease purchase is a cost effective way for your business to own the vehicle. Available from one year to four years and it also allows you to defer a proportion of the vehicle's value to the end of the agreement. At the end of the agreement you can own the vehicle.
Furthermore, if your business is not VAT registered, then lease purchase could be an even more attractive option.
Personal Contract Purchase
New Solutions offers you the flexibility to drive the vehicle that you really want. You can choose a period between one and a half years to four years depending on which vehicle you purchase. It also allows you to delay paying some of your vehicle's value. The agreement allows you to choose from one of the following options:
- Part-exchange your vehicle for a new one;
- Make all the payments and keep your vehicle; or
- Return your vehicle.
Contract hire is ideal if your business prefers to hire rather than own. It is simply an agreement where a rental is paid in return for the vehicle over one, two, three or four years. It also relieves you of the time-consuming administration to selling it or worrying about its value in the future.
Furthermore, if you are a VAT registered business then a proportion of the rentals may be tax deductible. As contract hire is classified as an operating lease for current taxation purposes, it is regarded differently to 'purchase' contracts so that you may benefit from certain tax advantages.
Finance lease is a hire agreement with features specifically designed for the business user, and if you are VAT registered there may be even more financial reasons why leasing is for you.
Once you have chosen a new car you can decide on a period between one year and four years. When the agreement ends, and subject to the terms and conditions of the agreement being met, you may arrange to sell the vehicle to a third party on Volkswagen Finance's behalf and may receive a rebate on the rentals.
As this is a lease, it is regarded differently to 'purchase contracts' for tax purposes, enabling you to benefit from certain tax advantages. A proportion of all the rentals can be claimed as business expense against taxable profits and the proportion is dependant on the price of the car being leased.
As in such cases, you should ask your own financial or tax advisor whether this applies.