FLEXIBLE FUNDING SOLUTIONS FOR THE MAN TGE VAN
INTRODUCING MAN FINANCIAL SERVICES
MAN Financial Services are the recommended funder for customers of MAN Truck and Bus UK Ltd. Whether you’re looking to invest in a single van, or a full fleet you can expect fast, flexible funding solutions and a seamless, straightforward process that makes MAN Financial Services the one-stop-shop for all your commercial vehicle needs. With this pack, you can learn more about our available usership and ownership products, as well as understanding who we are as a business and what we stand for.
Funding Solutions Choices
Contract Hire
Finance Lease
Hire Purchase
Discuss funding solutions with us: 0370 900 7060 | www.financialservices.man.eu/uk | MFSContact@vwfs.co.uk
Find your nearest dealer here
Operating Lease
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CHOICES
FROM MAN FINANCIAL SERVICES Working with you and your business
Negotiable initial deposit
Monthly payments to suit you
A range of end of contract options
How Choices works
This product is broken into three parts and offers both flexibility and simplicity at the end of your agreed contract term. We will work with you to create the solution that’s right for your business and at the end of the term you can choose the option that works best for you. • An initial deposit – negotiable but typically up to 10% • Monthly payments – over a period to suit your requirements • A guaranteed future value – giving you choices at the end of your contract term:
Key benefits • Low capital outlay required as deposit • Guaranteed Future Value known from the start of the agreement
- Pay the guaranteed future value of the vehicle to give you total ownership
• Flexible contract to meet your term and mileage requirements
- Extend the contract term, with no additional interest charge until the guaranteed future value has been amortised*
• Simple and quick to arrange
- Return the vehicle to MAN Financial Services** - Part exchange or sell the vehicle to release any equity gained *conditions apply. **vehicle will be inspected to ensure it meets our standard return conditions and agreed mileage.
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CONTRACT HIRE
FROM MAN FINANCIAL SERVICES Cost-effective vehicle operations without ownership
Low Initial Rental
Monthly rentals (from 12 to 60 months – including repair and maintenance)
Return the vehicle
How Contract Hire works
Contract Hire from MAN Financial Services offers a complete package, enabling you to hire the use of a commercial vehicle against a fixed period and anticipated mileage. When the contract period ends, you simply return the vehicle to us and, providing it meets the return conditions and mileage parameters agreed at the start, you have nothing more to pay. You can configure your contract to include any of the following additional options, giving you a complete, worry-free solution: • Road Fund Licence over the contract period • Repair and maintenance • Replacement tyres for the vehicle#1 • European breakdown cover • Collection and delivery #1 1
In accordance to fair wear and tear policy
The above note is intended as a summary of the principles of VAT and tax in this complex area. It is not intended to be and should not be construed as constituting tax advice and we make no representations, warranties or guarantees, whether express or implied, that the content is accurate, complete or up-to-date. Volkswagen Financial Services (UK) Limited trading as MAN Financial Services cannot be held liable in any way for any reliance upon this document, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable. For specific tax advice relating to your particular set of circumstances, you should contact your own HMRC officer or your usual VAT / tax advisers.
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Key benefits • L ow initial outlay • F ixed cost that includes repair and maintenance • L ess administration at the end of the contract • O ff Balance sheet funding • N o additional final payment at the end of the agreement (subject to excess mileage and fair wear and tear) • R entals are allowable against taxable profits1 • A n element of the VAT on rentals may be recoverable by VAT registered businesses1
FINANCE LEASE FROM MAN FINANCIAL SERVICES Tax-efficient vehicle acquisition
Initial Rental
Monthly rentals (from 12 to 48 months)
Extend the lease or sell the vehicle to a 3rd party
How Finance Lease works
Finance Lease from MAN Financial Services allows you to acquire a new MAN vehicle in a tax-efficient way meaning you can avoid drawing on your company’s capital reserves. This is an on-balance sheet finance product. Payments can be tailored to suit your business cash flow needs, with flexible deposits and a hire period from 12 to 48 months. • R entals can be offset against taxable profits • Y ou can also benefit from writing down allowances, which is reflected in our competitive rates • T his option can also be fully amortised or have final payments based on the future value
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• V AT spread over the term of the lease (VAT applies to rental, not purchase price) • A t the end of the agreed term, you have two options:
- E xtend the lease for an annual peppercorn rental
- Sell the vehicle and retain the majority of the sale proceeds
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Key benefits • F ixed payments for ease of budgeting • Tax benefits • S hows as an asset on your balance sheet • T he VAT is added to each rental rather than being paid at the outset • M ost of the benefits of ownership
HIRE PURCHASE FROM MAN FINANCIAL SERVICES Flexible and cost-effective funding
Pay a Deposit
Monthly payments (from 12 to 60 months)
Own the vehicle
How Hire Purchase works
Hire Purchase from MAN Financial Services allows you to efficiently own a MAN commercial vehicle, spreading the cost to suit you and your business. We offer flexible deposits and a hire period from 12 to 60 months. This option allows you to keep bank funding lines for core business investment. Monthly payments can be reduced by deferring part of the cost of the vehicle to the end of the agreement, in this case a balloon payment will be agreed. This means you can own the vehicle in the long-term whilst minimising your monthly cost in the short-term. After making the primary period payments, and settling the balloon payment if this option was agreed, there’s a small option-to-purchase fee enabling the title of the vehicle to pass to the customer.
Key benefits • Customers can make full use of Annual Investment Allowance as well as Writing-Down Allowances • Interest payments are tax-deductible • VAT can be recovered on the asset purchased • Customers can benefit from additional lines of credit • Shown as an asset on your balance sheet
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OPERATING LEASE FROM MAN FINANCIAL SERVICES Tax-efficient vehicle leasing
Low Initial Rental
Monthly rentals (from 12 to 60 months)
Return the vehicle
How Operating Lease works
An Operating Lease agreement from MAN Financial Services allows you to lease a vehicle for a specific period which is shorter than the asset’s working life. As well as low-cost fixed monthly rentals, you hold no risk on the resale of the vehicle at the end of the agreed term for this off-balance sheet solution. This option offers the lowest pre-tax rentals of any finance products offered by MAN Financial Services. You have all the benefits of using a vehicle on the road, whilst bearing no risk of depreciation. At the end of the agreement you simply return the vehicle to us and, providing it meets the return conditions and mileage parameters agreed, there is nothing more to pay.
Key benefits • Low initial outlay • O bsolescence is avoided through fixed period funding • R entals are allowable against taxable profits • R isks of ownership and depreciation are removed* • Off-balance sheet funding * Standard return conditions must be met
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Correspondence address MAN Financial Services Frankland Road Blagrove Swindon
SN5 8YU
Volkswagen Financial Services (UK) Limited Registered Office. Brunswick Court,
Yeomans Drive, Blakelands Milton Keynes
MK14 5LR
Registered in England and Wales under number 2835230
* MAN Financial Services is a trading name of Volkswagen Financial Services (UK) Limited. Volkswagen Financial Services (UK) Limited is authorised and regulated by the Financial Conduct Authority under registration number 311988 for credit and hire regulated activities and insurance mediation.