When most of the risk and rewards are transferred to the lessee this is classified as a Lease. Although the legal title remains with Lombard we are in effect financing the lessee’s purchase of the leased asset.
If a qualifying vehicle is used for business purposes and you are VAT registered (special rules apply) you may be able to recover some of the VAT applied to the lease rentals. In specific businesses the lease rental VAT may be 100% recoverable.
Tax reliefs referred to are those applying under current legislation which may change. The availability and value of any tax reliefs will depend on your individual circumstances. We can not say for definite whether a particular tax treatment will apply, we recommend you take advice from your accountants.
Customers need to insure and maintain the asset. Contact us or see your contract terms for more details.
We’ll work with you to create a payment plan tailored to your business and cash flow needs.
Sell it to a third party on our behalf,
or continue to lease the asset or return the asset to us for resale.
At the end of the term, we'll give you a fixed percentage of the net proceeds from the resale of the asset.
To discuss a Lease in more detail you can contact one of our specialists who will be able to give you expert advice depending on your individual needs and tailor a funding plan to your business requirements.
Security may be required. Product fees may apply. Finance is only available for business purposes.
