Renault Finance
Finance Lease
A Finance Lease is designed for business owners who want to avoid the high advance cost of purchasing a new Renault commercial vehicle or fleet, but where Contract Hire is not suitable. Choose a Finance Lease with RNB Renault and you will have the option to handle the administration of the vehicle, and have the assets shown on your company’s balance sheet. Greater flexibility over the fixed monthly repayments and more options to own, sell or return the vehicle at the end of the contract make this a popular choice.
How does it work?
Step One: You can tailor your Finance Lease agreement to best suit your business’ budget and circumstances. First choose the deposit amount you would like to pay and the terms or usage parameters of your agreement.
Step Two: Once you’ve paid the deposit, an RNB Renault business adviser will calculate your monthly repayment, based on the remaining amount to be financed on the vehicle. You can choose to pay the entire cost of the vehicle, including interest charges, over an agreed period, or you can opt to pay lower monthly rentals with a final payment based on the anticipated resale value of the vehicle (otherwise known as the ‘balloon payment’). The interest charged as part of your monthly repayment is calculated at the beginning of the contract and is fixed for the length of the agreement. This means that the amount you owe is unaffected by any future changes to interest rates, so you can budget with confidence.
Step Three: At the end of the agreement, choose from three options to decide what to do with your Renault vehicle. You can:
- Sell the vehicle on our behalf - Act as our agent and receive a share of the sale proceeds, assuming no balance is owed to us
- Return your Renault to us – we’ll forward your share of the balance of proceeds to you once anything owed to us, including any selling expenses, have been settled
- Keep the vehicle - pay a nominal fee (usually one month’s rental) and carry on operating with your vehicle as normal
Why choose RMB Renault Finance Lease?
- Greater flexibility through variable deposit options
- Fixed monthly payments with the option to offset a proportion of the vehicle cost as a final ‘balloon payment’
- Offset the whole rental amount against your business’ taxable income
- No mileage restrictions
- A positive effect on your cash flow with reduced monthly repayments
- Possibility of claiming tax relief on Renault Finance Lease rentals depending on business usage (50 percent VAT reclaimable on cars, 100 prcent reclaimable on LCVs).
For professional advice on the best business finance for your commercial vehicle or fleet, call or visit us at our RMB Renault Pro+ centres in Darlington and Northallerton. Our team of specialist business advisers are experts in the Renault commercial vehicle range and trade financing.
Renault Insurance
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