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Asset Finance Options

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Choose one of our finance options for a quick and convenient way to pay monthly for your new or used forklift truck.

Contract Hire

Contract hire is a very popular finance option for forklift trucks.

With fixed monthly rentals based on the vehicle’s operating costs, Contract Hire is the ideal solution for businesses that want the use of a forklift truck without the hassle of ownership.

Available with or without maintenance, trucks can be hired for periods of up to seven years.  At the end of the term they are simply handed back, removing the headache associated with disposal.

Contract hire is extremely tax efficient.  Rentals are 100% allowable for Corporation Tax and VAT is fully recoverable.

Look at the benefits:

  • Easy cash-flow
  • Payable monthly in advance
  • Fixed monthly rentals
  • Optional maintenance
  • Hassle free
  • Simplified budgeting
  • VAT paid monthly
  • 100% tax efficient

Please contact us for details about contract hire with GB Forklifts.

 

Hire Purchase

For businesses that prefer to own their forklift trucks, Hire Purchase is a great option.

It’s simple and straightforward and enables new and used trucks to be financed and owned outright when all of the payments have been made.

Under a Hire Purchase, VAT on the cost of the truck is payable up-front but can be reclaimed in full in the usual way. 

For businesses trading for more than two years with a good credit profile, there is generally no need for a deposit and payments can be spread over periods of up to seven years.

The Annual Investment Allowance has made Hire Purchase a real tax winner and 100% of the capital cost can be offset against profits in the first year of the agreement.  The interest element can also be offset over the period.

This type of finance is especially popular for businesses that want to keep their own cash for day to day expenses, expansion or growth by acquisition.

Hire Purchase offers:

  • Full ownership when all of the payments have been made
  • 100% first year capital allowance
  • No deposit for established businesses
  • Fixed monthly payments
  • VAT paid up-front
  • 100% tax efficient

Please contact us for details about how to buy your own forklift truck.

 

Finance Lease

This is a useful option for businesses that want the operational responsibility of ownership but prefer not to pay VAT up front as required for a Hire Purchase.

Rentals are fully allowable as a business expense spread over the period of the lease and VAT can be recovered in the usual way.  At the end of the term the lease can be extended or the truck sold to a third party.

Finance Lease offers:

  • VAT paid monthly
  • Fixed monthly rentals
  • Responsibility for disposal
  • 100% tax efficient

 Please contact us for details about finance leasing options.