FREQUENTLY ASKED QUESTIONS

Here at Quadrant Vehicles, our philosophy is simple. We supply you with the best van, at the most competitive price, together with the most competitive rates of finance that are currently available, giving you the best possible deal.

We will be happy to give you a trade-in value commensurate with the current market value for your old vehicle in part-exchange for your new one.

Yes, we can offer the most competitive rates of finance that are currently available. There are a number of methods of funding your new vehicle, and we will explain both the benefits and the downfalls of each method, so that you can decide which method suits you and your business best.

Once you have decided which van and which method of payment, the process couldn`t be easier. We will normally require a £500 deposit, unless otherwise agreed, payable by Debit/Credit Card, Cheque or TT Transfer, and we will then send you an order confirmation, stating the exact make and model of your vehicle of choice, along with the finance documents if applicable, and a request for the balance of deposit, returnable with the finance documents.

If the vehicle you have ordered is a fresh order from the factory, we will update you once a week as to the progress through the system. If the vehicle is from stock, we will endeavour to deliver the vehicle to your door within 7/14 days. In either case, you will be dealing with the same salesman throughout the process, and can they can be contacted at any time within normal office hours, should you require any further information.

Once you have returned the finance documents to us, together with the relevant proof of address and signature, we will organise the delivery of your new vehicle to the address of your choice within mainland Great Britain. If you are paying by Bankers Draft, or Chaps Payment, we will discuss a mutually satisfactory arrangement prior to the delivery date.

Once the van arrives with you, please make sure that you have a good look around it, ensuring that there are no marks, scratches or dents etc, and that there is nothing missing, ie spare wheel, book pack, or radio, and that there are 2 keys supplied with the vehicle. The delivery driver will have a P.O.D. (Proof of delivery) sheet with him, and if there are any issues relating to the condition of the vehicle upon delivery, they must be noted down on the P.O.D. and signed for by yourself.

All of the vans we supply are UK supplied and will come with 3 years manufacturers warranty, unless otherwise stated. If you encounter any sort of problem with your new vehicle, please contact your nearest local main dealer, and they will arrange to sort out the problem with you.

Listening to your mate in the pub about which method he thinks is the best way of funding your next new van is not always the best idea, when he is not the person who knows your business best. The person who should be able to advise you properly is your accountant, as they will base their advice specifically on you and your business, and which method is best suited to you.

There are a number of ways of funding your new van, and the following brief descriptions are just that, and are not intended to influence you in any way, but to help you understand the differences. All finance is subject to status.

Most people know and understand Hire Purchase. When funding commercial vehicles, it is normal to pay all of the VAT element plus the RFL (Road Tax + First Reg Fee) as a deposit, although one may wish to add to that figure in order to reduce the monthly repayments. There are some companies that will accept zero deposit, but will charge a slightly higher rate of interest for the privilege. The balance is then funded over a period up to 5 years, and following the final payment, ownership passes from the finance company to you, the customer. It is interesting to note that all those customers who look to change their vehicle as it draws near its final payment, may never actually own the vehicle at all, as they may part exchange it for their next new vehicle prior to making their last payment.

Summary

• Low Deposits
• Flexible Repayment period up to 5 years
• Fixed Monthly Repayment which aids budgetary control and cashflow
• VAT deposit reclaimable (VAT registered customers)
• 100% of interest charges can be offset against taxable profits
• Vehicle is an asset on your balance sheet and benefits from write down allowances 
  Year 1 - 40% Year 2 - 25% Year 3 - 25% etc...etc...
• Ownership of vehicle will pass only when the agreement is completed

A very tax efficient method of funding your vehicle. A relatively small initial rental, or deposit, normally 3 monthly rentals in advance, followed by the remainder of the rentals over the chosen term, with a choice of up to 5 year terms available. For non VAT registered companies, it means not having to pay all of the VAT at the start of the term, as it is the spread over the full term. For VAT registered companies, it means paying the VAT monthly, and claiming it back quarterly. At the end of the term, you are legally obliged to sell the vehicle, as the taxman says you can`t have the tax advantages of the lease as well as own the vehicle at the end.

So, you choose who you sell the vehicle to, and you negotiate the price, and then the finance company will keep 5% of the sale proceeds, and you will keep 95%. You can do whatever you want with your 95%, but the ideal thing is to use it as the deposit for your next new vehicle.

Summary

• Deposit from 3 monthly rentals in advance upwards.
• Repayment terms up to 5 years.
• Monthly repayments are subject to VAT - VAT recoverable.
• VAT is paid monthly, but claimed back quarterly (if VAT registered).
• Rentals are 100% allowable against taxable profits.
• Vehicle must be sold or part-exchanged at end of term. Customer retains 95% of sale proceeds (ex. VAT) Finance company retains 5%.
• Ideal for non-VAT registered business users looking for low initial deposit and maximum flexibility.
• No mileage penalties.

Comprehensive, fixed cost solution but without the responsibilities of ownership. Contract Hire is mileage sensitive and carries financial penalties if the agreed mileage is exceeded at the end of the term, and there may also be some reconditioning costs if the vehicle does not pass the inspection at the end of the agreement. This method of funding is particularly suited to the larger fleet operators, as it represents a fixed cost per vehicle per month.

Summary

• Deposits from 3 monthly rentals in advance upwards.
• Total budgetary control - fixed costs, as long as you stay within the mileage constraints.
• Monthly repayments are subject to VAT - VAT recoverable.
• Rentals are 100% allowable against taxable profits.
• Optional fixed maintenance package to include services, repairs, tyres, dependant on contract type.
• At the end of the contract, simply hand the vehicle back.
• The vehicle is subjected to an inspection, where any reconditioning costs are charged to the customer - Ideal for VAT registered larger fleet operators.