If you're looking for one Renault or a fleet for business use, Hendy Renault offers a range of finance options, so there's something to suit you whether you are a small start-up business or large established company.
At Hendy Renault, we understand that no two businesses are the same, which is why Renault Business Finance offers a wide variety of finance schemes and products to suit the specific needs of every type and size of business.
Contract Hire with Renault Business Finance from Hendy Renault is an ideal product for companies who don't want the financial risk of running their own car and van fleets, and who want to reduce the administrative load of buying, servicing and disposing of their company vehicles.
Step 1 - you pay the advanced rental on the Renault upfront, which can range from 3 to 12 months.
Step 2 - you pay a fixed monthly rental for the duration of your contract!
Step 3 - at the end of your agreement, you return your Renault back to Hendy.
Features and Benefits:
- Road Fund Licence included
- Flexibility to increase your contract term and mileage
- Optional servicing, maintenance and tyre options can bring all running costs into one package
- Reduced VAT paid by business, as monthly vehicle payments can be offset against taxable profits
- Vehicles on Contract Hire are classified as 'off balance sheet' and therefore has accounting benefits by improving the financial ratios for the business
- VAT-registered businesses are able to claim 100% of the VAT back if the vehicle is used exclusively for business
- If the vehicle is used privately, 50% of the VAT can be reclaimed on the finance of the rental.
Personal Contract Hire
Personal Contract Hire is a long-term rental agreement for private individuals when regular monthly payments are made for the duration of the agreement and the car is handed back at the end. The duration of the agreement and the mileage can be flexible, so do ask for more details - and in fact, many customers find that regular fixed monthly rentals help with personal budgeting.
Finance Lease is an excellent option if you want fixed monthly rentals and do not need to own the vehicle.
Finance lease has many of the benefits of Contract Hire without the perceived inflexibility.
Step 1 - tell us what deposit you'd like to pay.
Step 2 - we'll calculate your monthly payment based on the remaining amount to be financed on the vehicle.
Features and Benefits:
- Has the benefits of ownership without being the real owner
- Can offset the whole rental amount against taxable income
- No mileage restriction
- Monthly rentals are fixed but there's flexibility through variable deposit options
- Ability to offset a proportion of the vehicle cost as a final 'balloon payment'
- Reduced monthly rentals result in positive effect on your cash flow
- Possibility of reclaiming tax relief on Renault Finance Lease rentals depending on business usage (50% VAT reclaimable on cars, 100% reclaimable on LCVs).
At the end of your contract, you will get three choices:
- Sell your Renault - we'll forward your share of the balance of proceeds to you once we've settled anything owed to us, including any sell-on expenses
- Return your Renault to Hendy - acting as our agent, you can sell the vehicle on our behalf and receive a share of the sale proceeds, assuming no balance is owed to us
- Keep your Renault - by paying a nominal fee, which is usually one month's rental, you can continue to use your vehicle for the whole of the following year.
Lease Purchase is a Hire Purchase agreement, offering you the option to own the vehicle at the end of the agreement. It offers fixed repayments and fixed interest payable on the purchase price less the deposit. In addition, you have the ability to defer a proportion of the vehicles cost to a final balloon payment at the end of the agreement. This will result in lower monthly payments than Hire Purchase and could therefore improve your cash flow.
Step 1 - tell Hendy Renault how much deposit you would like to pay.
Step 2 - we'll calculate your monthly payment based on the remaining amount to be financed, the agreed contract period and the agreed balloon payment that will need to be paid at the end of the agreement.
Step 3 - pay the balloon payment and ownership of the vehicle is transferred to you!
Features and Benefits:
- Simple and quick to put in place
- You retain ownership of the vehicle
- You are not tied to mileage restrictions
- You have fixed repayments and fixed interest to control your costs.
You'll also receive the same tax benefits as with Hire Purchase.
This is when you buy a Renault from Hendy without a leasing agreement and with one payment. This is the simplest way to purchase a vehicle or fleet of vehicles, as the cash price of the vehicle(s) is paid upfront, which saves you money on paying interest on monthly payments - there are none!
Hendy Group are a credit broker not a lender. We can introduce you to lenders and their products which may have different interest rates and charges. We are not an independent financial advisor and you are not obliged to take our advice. We do not charge you a fee for our services. We typically receive commission from the lender (either a fixed fee or a percentage of the amount you borrow) but this does not affect the amount you pay. Authorised and regulated by the Financial Conduct Authority. Reference Number 311625.