When it comes to purchasing your new vehicle our aim at Raceline is to ensure all our customers are fully informed of the different finance options available to them.
We have our own very experienced in-house Business Manager. Coupled with that personal service Raceline have fantastic relationships with a variety of funders giving us privileged access to some of the best finance packages on the market.
We pride ourselves on being able to offer very competitive finance rates and finding a bespoke solution to suit individual needs in order to help fund the purchase of your next vehicle in the most cost effective manner.
Whichever type of agreement you choose our aim at Raceline is to provide a solution which puts you into the best possible position should you wish to change your vehicle during the agreement or at the end of the agreement as we want to secure more business with you in the future and build long-standing relationships with all our clients.
Not buying a vehicle from Raceline We can still offer our financial services with our in-house business manager who has specialist knowledge and can offer impartial advice and help find you the best solution to funding you’re new car.
Perhaps your looking to re-finance a car you already own to free up some cash? That’s possible too.
The loan is secured against your vehicle and once all the repayments due under the terms of the agreement have been made you take ownership of the vehicle.
The minimum deposit required for a Commercial Vehicle is generally the FULL V.A.T of the vehicle purchase cost.
On occasion, the finance provider may request in addition to the V.A.T. as a deposit.
If you or your business are V.A.T Registered – You are able to then reclaim the V.A.T in your next V.A.T Quarter.
Hire Purchase Agreements offer FIXED MONTHLY PAYMENT for the duration of the agreement.
You and your business take responsibility for the maintenance and general upkeep of the vehicle.
It is a requirement that the vehicle remains Taxed and Fully Comprehensively Insured for the duration of the agreement.
Lease Purchase takes an agreed proportion of the vehicles value and defers it to the end of the agreement. Called a ‘Balloon Payment’.
Minimum Deposit of the VAT on the purchase cost of the vehicle – Additional deposits can be paid to reduce the monthly payments.
After payment of your deposit, you will make your fixed monthly repayments.
At the end of the agreement you have two options. You can pay the balloon and take full ownership of the vehicle. Or you can sell or part exchange the vehicle, (Conditions apply).
Agreement Periods from 24 months (2 Years) up to 48 months (4 Years)
VAT registered you can claim up to 100% of the VAT.
A manageable monthly payment with the option to take ownership of the vehicle at the end of the term (By making the final payment)
For Business customers, Lease Purchase is a purchase agreement. The vehicle will show as an asset with its value written along with other plant and machinery, and interest costs may be allowed as a business expense.
Finance Lease is specifically for business users. For a predetermined period for an agreed maximum contract mileage with fixed monthly rentals.
Throughout the agreement, the vehicle remains the property of the leasing company.
As part of a finance lease agreement you can choose to pay either the entire cost of the vehicle, including interest charges, over an agreed period.
Alternatively, you can opt to pay lower monthly rentals with a final payment based on the anticipated resale value of the vehicle (otherwise known as the ‘balloon payment’). (Conditions apply)
The Residual Value that is based on the period of the lease and your anticipated annual mileage as well as using a balloon payment to reduce your monthly rentals. (Conditions apply)
Lease Periods from 24 months (2 Years) up to 60 months (5 Years) Initial Rental – Monthly Rentals & Final Balloon Rental are up to 100% tax deductible.
Offers a flexible and cost efficient way to gain the use of a vehicle whilst spreading VAT across all of the rental payments over the contracted period. The agreement features a Residual Value (Conditions apply)
Raceline Financial Solutions Ltd – IS A CREDIT BROKER AND NOT A LENDER.
This means that we deal with a wide range of financial institutions to give our customers a greater choice of competitively priced options. For your protection, Raceline Design Ltd is authorised and regulated by the Financial Conduct Authority for the sale of consumer credit.
FCA Reference Number 733644