What is the best way to finance my new motor vehicle?
Finance Lease: Leasing is appropriate if the Vehicle is used predominantly for business purposes. A Finance Lease gives you immediate use of the Vehicle without having to arrange a large deposit. Rentals are fixed for the term of the lease, providing security for your financial planning. For added flexibility at the end of the term you have the option to refinance, sell or purchase the Vehicle for the residual value. Chattel Mortgage: Chattel Mortgage is a fixed loan that provides for the purchase of a Vehicle in exchange for a series of payments. The Vehicle is used for security. Hire Purchase (HP): Hire Purchase is an appropriate approach for any business or individual that needs to either upgrade or acquire a new or used Vehicle. Regular payments are made over the term you choose. Full ownership of the Vehicle is transferred to you when all the payments have been made. Disclaimer: This is general advice only .Please refer to your accountant before taking out finance.
