Finance


With the financial state of the economy at the moment, you have to look at which is the best way for you to finance your new truck.

 

  • Do you pay for it and leave yourself without any working capital?
  • Do you finance it and go through the minefield of supplying all the relevant documents to some unknown?
  • Do you pay half and finance half?
  • Do you know the most tax-efficient way of financing?
  • Do you have a past financial history that might prevent truck finance in the UK?

 

Our friendly and professional team can talk you through all of your options. From what is best for your financial UK position, to the most tax-efficient truck finance. We do not take any commission from the finance or you, we are just happy to make the purchase possible.

 

Alternatively, if you have already considered truck finance, and are happy with your current supplier, we will try and give you a more competitive quote.

 

Asset Finance: Introduction

At Mac’s, our asset and leasing truck finance solutions can help you purchase vehicles without the financial burden of outright purchase. You pay for the equipment with the income it generates, or the costs saved helping you to maximise your working capital.

 

There are many solutions that can be tailored to suit your requirements. The most popular are as follows:

 

Hire purchase:

 

  • Pay your deposit
  • Pay the whole VAT amount upfront
  • Claim the VAT amount on your VAT quarter
  • Pay a fixed amount over a fixed period
  • Put on the books as an asset and depreciate as normal practice
  • Your vehicle at the end of the fixed term

 

Lease purchase:

  • Pay your deposit
  • Pay the VAT on each fixed monthly amount, over the fixed period
  • Choices at the end of the fixed term:
  • Continue to rent for a peppercorn monthly figure
  • Hand it back to the funder
  • Sell to an unrelated party for fair value.

 

Commercial vehicles

Need to re-finance an existing asset?
Many companies are finding that equipment purchased during healthy trading times has taken capital from the business which they could now make better use of.

By re-financing (Sale & Leaseback) an existing asset, you get an instant capital injection. However, with banks being more cautious it’s much harder to arrange. Mac’s can help where the banks won’t, and as well as our network of specialist lenders we’ll often use our own funds for these transactions.

 

Been turned down elsewhere?

Our network of funding sources means we’re often able to help companies that have been turned down elsewhere. We’ll always consider every application from new companies, those with poor credit records, or businesses that have experienced trading difficulties. If you’ve not got a set of up-to-date accounts that’s not always a problem either, just get in touch today and we’ll do our very best to help you.

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