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Car finance for business
Even if you an afford to buy a car outright, many businesses can benefit from financing options available for buying cars for their business. This is particularly important for smaller businesses and start-ups who don't want a large amount of their working capital tied up in company cars. Some of the options outlined on this page have tax and VAT advantages too. We can't tell you which car finance option is best for your business as your company's financial circumstances will be different. The best thing to do is to look at your cash-flow forecast and discuss the options with your accountant to decide which finance options suits your company best.
There are a number of finance options available to businesses in addition to the ones available to individuals:
- Contract Hire
- Personal Contract Purchase (PCP)
- Finance Lease
- Personal Contract Hire
- Short Term Contract Hire
- Lease Purchase