Operating Lease

  • The Customer pays rentals over a fixed term less than the market cost of the vehicle as a Residual Value is applied based on the asset usage
  • At the end of the agreement the Customer will not own the vehicle
  • The Vehicle is subject to return conditions; Excess Mileage, Damage Fees etc
  • The Vehicle must be maintained and serviced in line with the Isuzu Truck (UK) Ltd Manufacturers recommendations
  • The Vehicle and lease obligations are not shown on the Customers balance sheet
  • VAT is collected, and reclaimed, on each rental as it falls due
  • Rental payments are fully tax allowable

Finance Lease

  • The Customer pays the cost of the vehicle plus charges over an agreed term, but will not own the vehicle at the end of the agreement
  • Following payment of the full cost of the vehicle plus charges the agreement enters a secondary period where a peppercorn rental is paid annually
  • VAT is not paid on the vehicle cost at the outset but collected on each rental
  • Rental payments are fully tax allowable
  • Balloon payments can be used on Finance Lease agreements but fall due prior to the secondary rental period
  • Following the initial agreement term the Customer can sell the vehicle on behalf of BNP Paribas and can share the sales proceeds

Hire Purchase

  • Hire Purchase is sometimes known as Lease Purchase, it’s a contract where the Customer has the option to acquire the vehicle once the agreement, and option to purchase fee, have been paid
  • The full cost of the vehicle plus charges are paid over an agreed term with the option for a balloon payment if required
  • The vehicle, and sum due on the Hire Purchase agreement, is shown on the company balance sheet
  • A minimum deposit of all the VAT on the vehicle is paid upfront and can be reclaimed at the outset of the agreement
  • Customer can claim capital allowances and interest payments against tax

BNP Paribas Leasing Solutions are Isuzu Truck (UK) Ltd’s chosen finance partner.

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    Isuzu Truck UK Ltd
    Isuzu House
    164 Great North Road
    AL9 5JN

    Tel: 01707 28 29 30

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    For Isuzu Commercial Assist call free on 0800 008 7210