"Business Vehicle Finance Crash Course"
Business Vehicle Finance Crash Course Michael Potter Fleetdrive Management Ltd. Fleetdrive Management Ltd. 1 What costs do you need to consider? Depreciation Taxation Finance Maintenance Accidents/Insurance Health and Safety Administration Fleetdrive Management Ltd. 2 Depreciation The biggest cost and most difficult to forecast Vehicle choice Volumes/market trends Timing of sale Condition Method of sale Make it someone else’s problem Fleetdrive Management Ltd. 3 Taxation Who owns the vehicle? Business – Ltd vs sole trader Supplier - Contract hire / finance lease Employee - Allowances Vehicle choice Benefit in kind New CO2 based Corp Tax Super low emisions vehicles Vans and BIK – what is a van? Fleetdrive Management Ltd. 4 Finance You own the vehicle HP – with or without a balloon Contract purchase – No residual risk Supplier owns the vehicle Finance Lease – Residual risk Contract Hire – No residual risk Employee HP / Bank loan Personal lease – PCP / PCH ECOS Fleetdrive Management Ltd. 5 Maintenance Types available Fixed cost with Contract hire company Independent fixed price maintenance – Use with lease, hp and owned vehicles similar cost – more flexible service Pay as you go Fleet Management – centralised billing – expert scrutiny of costs. Manage your own/pay through expenses Breakdown Ensure correct procedure for Manufacturer schemes Fleetdrive Management Ltd. 6 Accidents/Insurance £300 and £2000 Per driver per year Do you know your total claim costs Who repairs the vehicles How do claims get progressed VOR costs – replacement vehicles etc Feed into Health and safety data 7 Health and safety Road Risks / Responsibilities On line Risk assesment Cancelled and driver training Driving license checks H&S / Car policy review Accident management Fleetdrive Management Ltd. 8 Administration Health tracking Accident Maint Finance and safety insurance/fuel Customer Satsfaction One Click One Call Fleet Opt out Individual drivers 9 One Click Access to information about all your vehicles over the internet. Facilities to book services etc (email sent to providers) P11D reporting Excess mileage report for whole fleet in EXEL format Unique application 10 Funding – One Stop Shop Matched to the type of vehicle and vehicle use Types Available Contract Hire, Contract Purchase, Lease, HP, Outright purchase Multiple funders Choice of rate and service to suit 11 Who are Fleetdrive Established 1994. Up to 20 years experience in the fleet and leasing industry. Dealt with over 60,000 vehicles. We provide vehicle finance, disposal, vehicle purchasing, fleet management and a host of other services. We consider Devonshire Motors our SW operation Fleetdrive Management Ltd. 12 In summary I hope I have prompted you to ask the questions you need to… Fleetdrive Management Ltd. 13 And finally… Hold back some goods for a thousand days and you will be sure to sell at a profit. Fleetdrive Management Ltd. 14