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Services

Contract Hire

A fixed term agreement based upon a predetermined annual mileage. Contract Hire removes the risk of depreciation and regularizes cash flow with a fixed monthly payment including road fund licence. Additional services can be arranged to include vehicle servicing and maintenance, tyres and exhaust replacements, breakdown assistance, and relief vehicle facility. The ability of the Funder to reclaim all of the VAT on the purchase price in turn, reduces the monthly payment in comparison with a purchase plan.
  • Keypoints
  • The rentals are tax deductible
  • Initial payment requirements are generally low
  • Pre-determined costs and fixed term smooth out cash flow
  • Accurate budgeting with minimal administration
  • Contract Hire can include maintenance and vehicle servicing
  • No purchasing or disposal hassles
  • No risk of depreciation
  • The contract hire company is able to reclaim all the VAT of the purchase price of the vehicles, which is reflected in much lower overall costs

Contract Purchase

Car Contract Purchase utilizes the future value of a vehicle to reduce monthly costs. This value is guaranteed based upon an agreed predetermined annual mileage and allows an option to either purchase the vehicle for this price or simply return it to the contract Funder with no extra cost (subject to mileage and/ or condition). Service and maintenance facilities can also be included where required with car contract purchase agreements.
  • Keypoints
  • Low Initial Outlay
  • Fixed budgeting
  • Maintenance Option
  • No Disposal Worries
  • Pre-agreed contract mileage (Excess mileage charges will apply)
  • Write-Down allowances apply
  • Interest charges can be offset against taxable profits

Personal Contract Hire

Personal Contract Hireis designed to provide private individuals with most of the advantages previously only available to businesses. Again, service and maintenance facilities are available.
  • Keypoints
  • Ideal for Company Car drivers opting out
  • Low initial outlay
  • Fixed budgeting and no disposal worries
  • Full Maintenance Option
  • Pre-agreed contract mileage (Excess mileage charges will apply)

Personal Contract Purchase (P.C.P)

Designed for the consumer, PCP utilizes the future value of a vehicle to reduce monthly costs. This value is guaranteed based upon an agreed predetermined annual mileage and allows an option to either purchase the vehicle for this price or simply return it to the Funder with no extra cost (subject to mileage and/ or condition). Service and maintenance facilities can also be included where required.
  • Keypoints
  • Initial payment requirements are generally low
  • Pre-determined costs and fixed terms smooth out personal cash flow
  • Rentals can include maintenance
  • No purchasing or disposal hassles
  • Option to purchase the vehicle at the end of the contract
  • No risks of depreciation

Finance Lease

A contract based upon a pre-agreed period to simply finance the acquisition of a vehicle. The capital cost is spread over the term and typically incorporates a final payment based upon the predicted resale value determined by the anticipated annual mileage. VAT on the original purchase price is reclaimed by the Funder, which allows the monthly costs to be reduced to reflect the VAT saving. Finance Leases can be terminated early and allow greater flexibility although depreciation isk remains with you. The vehicle is sold to a third party at contract termination and provides the opportunity for you to benefit from any available equity.
  • Keypoints
  • The leasing company is able to reclaim all the VAT on the purchase price of the vehicles, which is reflected in much lower monthly payments to the customer
  • Fixed monthly payments for the duration of the contract help planning ahead
  • Initial payment requirements are generally low
  • The rentals are tax deductible
  • A residual value can be included in the lease thereby reducing the monthly payments and helping cash-flow

Lease Purchase

This type of agreement is a pure funding method of spreading the vehicle purchase value over an extended term. Initial payment requirements are usually lower than hire purchase and a proportion of the depreciation can be deferred by including a final balloon payment.
  • Keypoints
  • Fixed monthly payments for the duration of the contract help planning ahead
  • Initial payment requirements are generally low
  • You can purchase the vehicle at the end of the contract
  • A residual value can be included in the lease thereby reducing the monthly payments
  • Payments Do Not Attract VAT
  • No Maintenance Option
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