Spread The Cost Of Your Outdoor Equipment
Big Bear are pleased to partner with First Business Finance to offer our clients competitive, flexible and simple finance solutions.
First Business Finance has built up an industry-leading portfolio of funders aimed directly at the UK trailer market and has an expertise built upon close relationships with customers and suppliers.
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Types of Finance
This is our most common form of finance package – this is where a minimum of 20% deposit is placed (the VAT) and the remainder of the value is spread over the finance term. Each monthly payment is fixed from the start, and at the end of the agreement you own the vehicle outright. This funding option which can be taken up to 10 years.
A balloon option of up to 60% is also available. Balloons are based on the future residual value of the horsebox, it adds flexibilty to the deal whereby you can upgrade your vehicle sooner than you were previously able to.
Business users can also claim 100% of interest offset again taxable profits and claim down yearly write-down allowances against the vehicle. As well as claiming back the VAT deposit.
The lease option is very similar to a hire purchase, with only two differences: 1 – the VAT does not need to be placed as deposit – so as little as 5% can be put down. 2 – at the end of the contract a title transfer payment must be made (typically charged at the fixed monthly rental).
This is more flexible and VAT/Tax efficient, as each lease cost can be offset again pre tax profits, thus saving cira 20% per year for business users. With the only difference being the VAT is spread across the term, rather than paid upfront. Thereby aiding cash flow.
Terms can be arranged up to 10 years with minimal deposit, and balloons of up to 60%.