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Business Contract Purchase

Agility Fleet offers another funding option which has similar benefits of Contract Hire but provides the option to purchase the vehicle at the end of contract known as Business Contract Purchase.

Business Contract Purchase is a long-term finance agreement for businesses that want to own their vehicles but want to avoid the risk of depreciating assets.  A car or van for a set period of time with a pre-agreed total mileage can be provided at a fixed monthly rental.

This helps budgeting as it avoids any unexpected costs during the hire period, as with Contract Hire Vehicle Excise Duty is covered for full duration of the contract.

This product is an alternative to Contract Hire as there will be an opportunity to purchase the vehicle with a predetermined amount set at the start of the agreement, also known as the ‘balloon payment’ and/or ‘final instalment payment’.

Business-Contract-Purchase

Agility Fleet can also include a maintenance package, which is added to your contract for a fixed additional monthly cost.  This provides a full breakdown and recovery facility covering all servicing, replacement tyres* and other repair costs for the whole contract.

We have a team of specialists who can help you find a vehicle that will best suit you and your business needs.  Our aim is to help you get the vehicle you require at a price you are happy with but we promise to provide excellent customer service throughout your partnership with Agility Fleet.

01


How it works

Your Business Contract Purchase vehicle will be on a fixed term basis that can range from 2 to 5 years with anticipated annual mileage. You can choose from either a customer maintained or a fully maintained contract depending on your business needs.

A fixed ‘balloon payment/final instalment payment’ is set at the beginning of your new contract. Provided that the terms of the initial agreement have been met, at the end of your contract term you can decide whether you would like to pay your ‘balloon/final instalment’ amount and take ownership of the vehicle or return back to us.

With any funding option there are always benefits as well as considerations. Agility Fleet’s core values include integrity. Therefore we aim to provide both the benefits and considerations.

02


What are the benefits

  • Fixed monthly payments
  • An option to add a maintenance package
  • Pre-agreed ‘balloon’ payment at the start of your contract to purchase the vehicle
  • Enhance your cash flow
  • Road Fund License/Vehicle Excise Duty is included
  • Reduced administration
  • On-going advice and support

03


What are the considerations

  • Early termination can be expensive
  • At the end of the contract, you must decide whether to return the vehicle in a well maintained condition, or to purchase the vehicle at an agreed price with a purchase fee payment
  • The initial agreed ‘balloon payment’ is fixed
  • If returned any damage over and above the BVLRA ‘Fair Wear and Tear Guide’ will be subject to additional charges
  • If returning the vehicle exceeding your agreed mileage, it can be costly with excess mileage charges
  • Vehicle must be insured with full comprehensive cover
  • VAT is paid upfront with the initial payment

Flexibility is another Agility Fleet core value. All considerations above are applicable but we will always help to ease the burden of these if and where possible.

As an example, all of our end of contract vehicles are assessed by Agility Fleet BVRLA trained appraisers at our own Remarketing centre in Bromsgrove.  We do not use a third party company who may apply a strict and costly approach to inspecting the vehicles.

*Please refer our no quibble tyre policy.

Contact Agility Fleet

At Agility Fleet, our team are on hand to support and guide you through your fleet and personal contract hire needs.

If you have an enquiry please call us on  01527 571 605 or email us on info@agilityfleet.com

If your enquiry is related to vehicle accident or breakdown please call our 24 hours helpline 01527 571 605

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