This is option favoured by those who wish to purchase a vehicle but without having to worry about the vehicle’s depreciations. An agreement is setup whereby a fixed monthly repayment is set for a certain period of time. This cost is based upon the anticipated mileage of the vehicle. Vehicle maintenance can sometimes be included as an additional option. 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 Renault listed below show cars available for car finance:
Trafic, Laguna, Megane Sport Saloon, Grand Scenic, Megane Coupe Cabriolet, Laguna Tourer, Kangoo, Scenic, Master, Modus, Clio, Megane Cabriolet, Scenic RX4, Megane Sport, Megane Coupe, Grand Espace, Espace, Megane Sport Tourer, Megane,