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SIE Car Sales & Leasing

SIE Car Sales & Leasing

Categories: Car Leasing, Leasing Companies

Address: 21 Buttercup Drive, Moorside, Oldham, OL4 2QS

Landline: 0161 66... Landline: 0161 66...
Gareth: 07738 2... Gareth: 07738 2...

 Website: www.siecarsalesandleasing.co.uk
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Business Profile

Business Contract Hire A simple and cost effective way to fund any number of vehicles

Contract Hire, sometimes referred to as an Operating Lease, is a long term rental agreement. Contracts range from 12 to 60 months and are tailored to the businesses requirements.

Advantages:

Minimum capital expenditure
Accurate monthly budgeting
Improved cash flow
Fixed interest rates
Rentals can be offset against the businesses profits. Cars with a CO2 output above 130g/km are currently subject to a 15% disallowance on the amount of the rental that can be claimed against the businesses taxation, for contract-hired cars with a CO2 output of 130g/km or below, there is currently no disallowance.
Reduced administration
On-going advice and support
Road Fund Licence provided (vehicle excise duty paid) for duration of contract
Optional maintenance package
Optional breakdown rescue cover
Optional replacement vehicle cover in event of breakdown
Optional GAP insurance which provides cover for the shortfall between the outstanding finance and the insurance value if the vehicle is declared a write-off by your insurance company
Disadvantages:

Early termination can be expensive
If you do more miles than stated in your contract you will be charged excess mileage for each mile over that stated in your contract
You must look after the vehicle and return it in a well maintained condition otherwise you will be charged for any damage over and above that stated in the 'Fair Wear and Tear Guide'
You must have fully comprehensive vehicle insurance
You will never own the vehicle as there is no option to buy it
More Information on Business Contract Hire:

The Contract Hire Company reclaims the VAT on the original purchase, which reduces your monthly rentals (which are + VAT). Contract Hire is a very popular choice for VAT registered companies as they can claim back 50% of the VAT on the finance element for cars and generally 100% for commercials (subject to no private use, no exempt turnover and not being on the Flat Rate VAT Scheme).

On contracts with maintenance the VAT on the service element is 100% recoverable. One of the major benefits is that there are no disposal worries as the future value is underwritten by the leasing company. Another benefit of Contract Hire is that it is generally 'off balance sheet funding' (subject to legislation change) which means it can improve your gearing ratio (assets to borrowing ratio) and therefore possibly your borrowing ability in the future.

Personal Contract Hire As the name suggests Personal Contract Hire (also known as personal leasing) is simply contract hire but for individuals

Personal Contract Hire (PCH) is based on a fixed term contract where customers pay an agreed monthly charge for the use of a vehicle for a previously agreed period.

Advantages:

Flexible initial payment
Fixed term contract
Fixed mileage contract
Fixed cost motoring
Flexible profiles to suit you
You only pay for the use of the vehicle
At the end of your contract simply hand the vehicle back
Option of including maintenance with the contract
No depreciation or disposal risk
Disadvantages:

Vehicle must be returned in a well maintained condition
Early termination can be expensive
You must have fully comprehensive vehicle insurance
You will never own the vehicle
More Information on Personal Contract Hire:

It benefits customers wishing to eliminate the financial risk associated with disposing of a vehicle. Contracts are usually taken over two, three or four years, providing a high level of flexibility. Some contracts can be formally extended beyond the end of contract date if required. Just ask and we can answer any of your questions regarding extending your contract.

PCH is very similar to business Contract Hire; both are based on a fixed annual mileage agreed on inception of a contract. You will need to decide how many miles you drive each year before quotations can be obtained. Once you have stated how many miles you drive in a year and considered which vehicle you would like to lease a quote can be created for you by one of our sales team.

Regulations with regard to making mileage amendments after contracts are live vary from funder to funder, so it is always better to be as accurate as you can be. If you do exceed the agreed allowance at the end of your contract you will pay an excess mileage charge, which will have been agreed upon prior to signing the finance agreement.

Please remember this when deciding upon you annual mileage. If you are looking to have predictable motoring costs adding maintenance to your monthly payment is easy. Maintenance is there to put your mind at rest should any challenges arise with your vehicle and generally covers servicing, routine maintenance, tyres, exhausts and batteries.

Please note that it is responsibility of the person named on the finance agreement to arrange and pay for fully comprehensive insurance for the vehicle. It is important that the vehicle is returned in accordance with the guidelines set out in the 'Fair Wear and Tear Guide', a copy of which is made available to customers when they are near the end of their PCH agreement.

Finance Lease Finance Lease is a popular funding option for commercial vehicles or vans where Contract Hire is not always suitable or the best option.

Your business uses the vehicle while paying a rental rather than a repayment. The monthly rental is determined by the initial cost of the vehicle (excluding VAT), the period of the finance lease and the residual value (the estimated future value of the vehicle at the end of the finance lease period once depreciation is taken into account), plus interest.

Advantages:

Minimum capital expenditure
Accurate monthly budgeting
A fixed interest rate is available on some contracts
No damage recharge as you are responsible for disposal of the vehicle
Finance lease is a very popular choice for VAT registered companies and businesses as they can claim back 50% of the VAT on the finance element for cars and generally 100% for commercials (subject to no private use). On contracts with maintenance the service element VAT is 100% recoverable
Rentals can be offset against the businesses profits. Cars with a CO2 output above 130g/km are currently subject to a 15% disallowance on the amount of the rental that can be claimed against the businesses taxation, for cars with a CO2 output of 130g/km or below, there is currently no disallowance
Reduced administration
On-going advice and support
Optional full maintenance package with breakdown rescue cover
Optional GAP insurance which provides cover for the shortfall between the outstanding finance and the insurance value if the vehicle is declared a write-off by your insurance company
Disadvantages:

You will never own the vehicle as the vehicle must be sold to a third party as the end of the agreement
Operating risk associated with the vehicle
Interest rates can vary on some contract
You must have fully comprehensive vehicle insurance
More Information on Finance Lease:

Although you never take ownership, at the end of the finance lease contract a payment equivalent to the residual value is payable. Usually this means that the vehicle is sold and a proportion of the proceeds of the sale are returned to the lessee.

Most finance lease companies will offer a number of payment options to suit your cash flow. You can lower the monthly rental with a balloon payment at the end of the contract, or you can pay the entire cost in monthly rentals (normally referred to as a fully amortised Finance Lease), in which case you may be able to extend the finance lease with a secondary rental (sometimes called a peppercorn rental).

Lease purchase Lease Purchase is for people who would like to own a vehicle but do not necessarily have the money to buy one immediately

Lease Purchase is another type of vehicle finance which is ideal for non VAT registered customers who eventually wish to take ownership

Advantages:

Low initial payment
Fixed mileage contract
Ideal for non-VAT registered customers who want eventual ownership of the vehicle
Effective budgeting with balloon facility, ownership of the vehicle is acquired once the balloon has been paid in full at the end of the contract
Monthly payments are not subject to VAT
The vehicle will become a company asset
Lease Purchase frees up finance for other aspects of your company
The vehicle will appear on your balance sheet and you can record the value against taxable profits
Disadvantages:

The balloon payment must be paid for at the end of the contract
The vehicle is yours once you have paid the balloon payment. In some cases the balloon can be higher than the residual value
Dedicated funding product, which does not include maintenance or any other value added services
You must have fully comprehensive vehicle insurance
More Information on Lease Purchase:

It is a flexible product and it is possible to put down a larger initial payment, which has the advantage of reducing the monthly payments. The monthly cost is worked out on the difference between the retail value and the depreciation value plus interest. This means that choosing Lease Purchase for a vehicle which holds its value will work out in your favour.

The main difference between Lease Purchase and Contract Purchase is that instead of having the choice at the end of the contract to purchase the vehicle, which you would have with Contract Purchase, you have already entered into a contract to purchase the vehicle at the end of the contract with Lease Purchase.

This contract is only for those who are absolutely sure that they want to take ownership of the vehicle at the end of the contractual period, and pay any balloon payments attached to the contract. Lease Purchase agreements typically last between 2 and 4 years although the agreement can be settled at any time throughout the contract.

About SIE Car Sales and Leasing SIE CAR SALES LTD are a family run leasing boker, based in Oldham Lancashire. We believe in delivering the personal touch and strive to go the extra mile for all our clients. We are well positioned to offer market leading vehicle lease rates for business and personal customers alike. We also offer tailor-made vehicle fleet management packages and full fleet management solutions for businesses running multiple vehicles. So whether you are looking to buy or sell one vehicle or replace your whole fleet, we will deliver a professional and personalised service.
At SIE car sales and leasing we are able to offer the following types of finance; personal contract hire, Business contract hire, PCP, HP, Car leasing and Van leasing, to all our clients. Call our sales team for a free quotation on 0161 6671380, you can email us sales@siecarsales.co.uk, or you can simply complete the form below and one of our experienced staff will contact you to discuss your requirements.



Gareth Pomfrey - Managing Director

I have worked in the Automotive industry for the last fifteen years and in that time I have worked for some of the most prestigious manufacturers in the industry. I am passionate about the service we provide and we aim to exceed a customers expectations every time, whether the client buys 1 or 100 cars from us. When I established SIE car sales and leasing my goal was to build a local leasing broker who would look after the Oldham and surrounding areas, delivering the most competitive vehicle leasing rates and the Best customer service.

I am a family man and love spending time with my wife Lucy and our three boys, Sebastian, Isaac and Elijah (SIE). I am a big food lover and enjoy nothing more than nice food and good company. I played Rugby at a high level for many years, but now I enjoy coaching groups of all ages and mixed abilities. We help to grow the skill set of each individual and push each child to reach their potential what ever that level maybe. Whilst honing their skills we also hope the kids develop great friendships and learn some very valuable life lessons.

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Opening Hours

Monday to Friday
09:30 to 18:30

Saturday
09:30 to 17:00

Sunday
Closed