A typical contract purchase will consist of a 12-60 month contract, which will include mileage restrictions, road tax and breakdown cover and also the option to purchase the vehicle at the end of the contract period. No VAT can be reclaimed in the rental of the vehicle but can be claimed as part of any vehicle services that take are undertaken. In terms of businesses, the vehicle appears as a balance sheet asset for the duration of the contract. This means that capital allowances can be claimed at the rate of 25% per year on the reducing asset value of the vehicle (up to a maximum of &pond;3000 per annum). However, VAT is not recoverable on the monthly payments. For vehicles over &pond;12,000 a balancing charge or allowance is made on disposal of the vehicle. This therefore generates tax efficiencies by allowing for the full depreciation amount.
The models of Mazda listed below show cars available for car finance:
RX-8 Coupe, 6, 323, 2, Premacy, Tribute, Demio, Mx-5,