Vehicle Finance Comparison

HP (Hire Purchase) means you own the vehicle at the end. Finance Lease is a rental with flexible end options but no ownership. Contract Hire is a fixed-term rental with maintenance often included - you return the vehicle at the end.

It depends on your situation. With HP, you can claim capital allowances and 100% VAT recovery. With Lease and Contract Hire, rentals are fully tax deductible but only 50% VAT is recoverable. Speak to your accountant for specific advice.

You have options: extend the lease at a reduced rental, return the vehicle, or arrange a sale (though you can't benefit directly from any sale proceeds under a standard finance lease).

No, HP has no mileage restrictions as you're buying the vehicle. Contract Hire has strict mileage limits, and you'll pay excess charges if you exceed them.

Yes, maintenance packages can usually be added to any finance option. This can make budgeting easier but isn't always the most cost-effective approach.

Deposits typically range from 0-30%. A higher deposit reduces monthly payments but ties up your working capital. Many tradesmen opt for 10-20%.