Metal Pick Up Contract

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					    Car Derived Commercials




Note: SWB Shogun Commercial shown with optional metal panels
           SHOGUN SWB 4Work Commercial
                                                                                                                  4Work Commercial
                                                                                                           Gross vehicle weight: 2,665kg
                                                                                                           Kerb weight: 2,085kg
                                                                                                           Payload: 580 kg
                                                                                                           Dimensions LxWxH: 129x139x107cm
                                                                                                           Width between w/arches: 109cm
                                                                                                           Rear door height: 101cm
                                                                                                           Roof load capacity: 100kg
                                                                                                           VED Band: LGV Euro4
                                                                                                           Co2 Rating (g/km): 244 Man / 278 Auto
                                                                                                           Alarm & Keyless Entry
                                                                                                           Climate Control
                                                                                                           FM/AM CD/Tuner with MP3
                                                                                                           17" Alloy Wheels
                                                                                                           M-ASTC
                                                                                                           Roof Rails
                                                                                                           Colour Keyed Heated Door Mirrors
                                                                                                           Colour Keyed Outer Door Handles
                                                                                                           ABS with EBD
                                                                                                           Multi-info Display
                                                                                                           Twin & Side Airbags
                                                                                                           Electric Front Windows
                                                                                                           Central Locking
                                                                                                           Colour Keyed Bumpers
                                                                                                           Electronically Controlled Door Mirrors

                                                                                                                       3.2 DI-DC Man / Auto
                                                                                                                      £19,749 / £21,025 CVLP*

                                                                                                              Man Metallic now £18,089.36**
** Customer saving £2,000 exc VAT. SWB Equippe Manual Metallic was £20,089.36 exc VAT, now £18,089.36. Offer excludes I.O.M. This offer is only available
on vehicles registered between 1st October and 31st December 2008 at participating dealers only.

*CV List Price (CVLP) excludes VAT, Vehicle Excise Duty and First Registration Fee. Metallic paint is extra. Optional metal panels are available.
        SHOGUN SWB Warrior Commercial
                                                                                    Warrior Commercial
                                                                                 Gross vehicle weight: 2,665kg
                                                                                 Kerb weight: 2,085kg
                                                                                 Payload: 580 kg
                                                                                 Dimensions LxWxH: 129x139x107cm
                                                                                 Width between w/arches: 109cm
                                                                                 Rear door height: 101cm
                                                                                 Roof load capacity: 100kg
                                                                                 VED Band: LGV Euro4
                                                                                 Co2 Rating (g/km): 244 Man / 278 Auto

                                                                                 Specification as Equippe plus …

                                                                                 18" alloy wheels
                                                                                 Leather upholstery
                                                                                 Power/heated seats
                                                                                 Front foglamps
                                                                                 Leather wrapped steering wheel
                                                                                 Rear spoiler
                                                                                 Cruise control
                                                                                 Sat Nav/music server/rear camera
                                                                                 Auto dimming rear view mirror
                                                                                 Privacy glass
                                                                                 Chrome mirrors
                                                                                 Chrome door handles
                                                                                 Chrome headlamp bezels
                                                                                 Front resin guard
                                                                                 Metallic paint

                                                                                            3.2 DI-DC Auto
                                                                                             £24,813 CVLP*

*CV List Price (CVLP) excludes VAT, Vehicle Excise Duty and First Registration
Fee. Metallic paint is extra. Optional metal panels are available.
        OUTLANDER 4Work Commercial
                                                                         4Work Commercial
                                                                    Gross Vehicle Weight: 2,360 kg
                                                                    Kerb Weight: 1,655 kg
                                                                    Towing Capacity: 2,000 kg
                                                                    Dimensions LxWxH: 180x134x93cm
                                                                    Width between w/arches: 95cm
                                                                    Rear door height: 93cm (tailgate split)
                                                                    Roof load capacity: 80kg
                                                                    VED Band: LGV Euro4
                                                                    Co2 Rating (g/km): 174

                                                                    Alarm System and Keyless Entry
                                                                    FM/AM Radio + CD/MP3 player
                                                                    MASTC
                                                                    Front Dual Airbag
                                                                    ABS with EBD
                                                                    Fully Automatic Air-Conditioning
                                                                    Central Locking
                                                                    Electric and Heated Door Mirrors
                                                                    Front & Rear Electric Windows
                                                                    16" Steel Wheels
                                                                    Rear Spoiler with LED Stop Lamp
                                                                    Colour Keyed Bumper
                                                                    Colour Keyed Door Mirror Cases
                                                                    12 Volt Accessory Socket:
                                                                    Height Adjustable Driver Seat

                                                                                 2.0 DI-D Manual
                                                                                  £16,999 CVLP*
*CV List Price (CVLP) excludes VAT, Vehicle Excise Duty and First
Registration Fee. Metallic paint is extra.
               Taxation
Pick-ups with an ex-works payload of 1000kg or more are treated as a commercial vehicle for VAT and personal tax
benefit purposes. All Mitsubishi pick-ups comply with these regulations. Further details are included in the table below.

Car derived vans are also treated as a commercial vehicle if they comply with Revenue & Customs build regulations.
All Mitsubishi car derived vans meet the criteria required.

                                                                                          Manufacturers Published Weights
New L200 Model                                                                 Gross Vehicle                                     Ex-Works
                                                                                                     Kerb Weight (Kg)
                                                                                Weight (Kg)                                     Payload (Kg)*
Mitsubishi L200 4WD 4Work Single Cab                                              2,890                      1,770                 1,120
Mitsubishi L200 4WD 4Life Single Cab                                              2,890                      1,770                 1,120
Mitsubishi L200 4WD 4Work Club Cab                                                2,850                      1,790                 1,060
Mitsubishi L200 4WD 4Life Club Cab                                                2,850                      1,790                 1,060
Mitsubishi L200 4WD 4Work Double Cab                                              2,890                      1,840                 1,050
Mitsubishi L200 4WD 4Life Double Cab                                              2,890                      1,840                 1,050
Mitsubishi L200 4WD Warrior Double Cab                                            2,910                      1,865                 1,045
Mitsubishi L200 4WD Animal Double Cab                                             2,910                      1,865                 1,045
Mitsubishi L200 4WD Raging Bull Double Cab                                        2,910                      1,865                 1,045
Mitsubishi L200 4WD Elegance Double Cab                                           2,920                      1,875                 1,045
Mitsubishi L200 4WD Diamond Double Cab                                            2,920                      1,875                 1,045

        *A generic weight of 45kg is deducted from the payload figure if a top/canopy is fitted .


        This information is provided as a guide only based on current legislation. Tax liabilities can vary according to your personal
        circumstances or how you use the vehicle. Please contact your local Revenue & Customs office for further information.
            Taxation

What tax will Employees and Directors pay on their van or pick-up?


From April 2007

- There will be no chargeable benefit where the employee only takes their company
van/pick-up directly home and does not use it for any other private travel/use5

- A £3,000 benefit charge applies for unrestricted private use

- A £500 charge for employer supplied fuel also applies if used for private use




Click on to the next page for typical examples of how this change will affect the taxation of
a Mitsubishi commercial vehicle versus an equivalently priced passenger car.




      This information is provided as a guide only based on current legislation. Tax liabilities can vary according to your
      personal circumstances or how you use the vehicle. Please contact your Revenue & Customs office for further
      information.
                  Taxation
After April 2007 Mitsubishi commercial vehicles still attract significantly less tax than an equivalently priced
car, even if the vehicle has unrestricted use.

                                                     L200 Warrior           Ford Mondeo 2.0           Nissan X-Trail 2.2            Jeep Cherokee
                                                     Double Cab             TDCi Ghia Estate            dCi Columbia                2.8 CRD Sport
OTR (inc VAT)                                          £20,493                  £20,900                    £21,395                      £20,080
Vehicle 'Benefit in Kind' liability                     £3,000                   £4,598                     £6,632                       £7,028
Fuel 'Benefit in Kind' liability                         £500                    £3,718                     £5,239                       £5,915
Emissions                                                LGV                    156 g/km                  203 g/km                  5 246 g/km
Tax Liability as a Percentage                             N/A                     22%                        31%                          35%

20% Tax Band
Vehicle Tax Due                                           £600                      £920                      £1,326                   £1,406
Fuel Tax Due                                              £100                      £744                      £1,048                   £1,183
Total Tax Due                                             £700                     £1,663                     £2,374                   £2,589

40% Tax Band
Vehicle Tax Due                                          £1,200                    £1,839                     £2,653                   £2,811
Fuel Tax Due                                              £200                     £1,487                     £2,096                   £2,366
Total Tax Due                                            £1,400                    £3,326                     £4,749                   £5,177




            This information is provided as a guide only based on current legislation. Tax liabilities can vary according to your
            personal circumstances or how you use the vehicle. Please contact your Revenue & Customs office for further
            information.
     What is Contract Hire?
Contract Hire can be defined as:
   A contract by which the hirer is provided with a vehicle
    of their choice
   For an agreed period of time
   At an agreed mileage
   For a fixed monthly rental
   And where the residual value risk is borne by the
    contract hire company
   Full Maintenance package is available
        What are the Benefits of Contract Hire?
 LOW INITIAL OUTLAY
       1 – 6 monthly rentals up front, avoiding large cash outlay.

 FIXED MONTHLY RENTALS
       The rentals are agreed on quote and remain constant for the duration of the contract.

 DEPRECIATION RISK REMOVED
       Mitsubishi Contract Motoring owns the vehicle, therefore the customer has no worries of
       depreciation and re-sale value.

 VAT RECLAIMABLE
       100% business purposes or Commercial Vehicles (all L200’s), 100% VAT reclaimable Private and
       Business use, 50% VAT reclaimable 100% of VAT reclaimable on the maintenance contact

 OFF BALANCE SHEET FUNDING
       The vehicle shows on MCM’s balance sheet as they are the owners of the vehicle. Therefore the
       customer avoids depreciating assets adversely affecting their profits.

 TAX BENEFITS
       On passenger cars with an ‘On the road cost’ of less than £12,000, the total monthly rental
       payable on a contract hire agreement is 100% allowable against pre-tax profit. As the cost rises
       over £12,000 the proportion of the monthly rental reduces. (100% L200’s) This calculation is
       based on ‘Half the Excess’ Rule and examples are shown overleaf.
% Rental Allowable Against
  Pre-tax Profit

                                % of
      Purchase Price          Rental
                             Allowable
         £12,000               100%
         £12,500                98%
         £15,000                90%
         £17,500                84%
         £20,000                80%
         £22,500                77%
         £25,000                74%
         £27,500                72%
         £30,000                70%
       Contract Hire Summary

 Low initial outlay
 Depreciation risk removed
 Off balance sheet funding
 Tax benefits
 VAT recoverable on monthly rentals
 Full maintenance option
 Fixed cost motoring
 Road fund licence is included for the term of the contract
       Business User
       Finance Product Differences
                          CASH          HIRE PURCHASE        FINANCE LEASE       CONTRACT HIRE
                      WRITING DOWN        WRITING DOWN
TAX                    ALLOWANCE           ALLOWANCE
                                                             ANNUAL RENTALS      ANNUAL RENTALS

VAT                                                            50% PRIVATE         50% PRIVATE
                           N/A*                N/A*          100% BUSINESS (or   100% BUSINESS (or
RECLAIMABLE                                                        LCV)                LCV)
BALANCE
                           ON                  ON                   ON                 OFF
SHEET
RENTALS                    N/A                FIXED             FIXED + VAT         FIXED + VAT
TYPICAL INITIAL        FULL COST OF
                                        10% OF TOTAL COST     3 RENTALS + VAT     3 RENTALS + VAT
OUTLAY                   VEHICLE

PURCHASE               PURCHASED        OWNERSHIP PASSES       THIRD PARTY         THIRD PARTY
OPTIONS                 OUTRIGHT        WITH FINAL PAYMENT    PURCHASE ONLY       PURCHASE ONLY
ROAD FUND LICENCE
INCLUDED FOR               N/A                 N/A                  NO                 YES
SUBSEQUENT YEARS
                                                                CUSTOMER
REGISTERED NAME         CUSTOMER            CUSTOMER                                   SCM
                                                                 C/O SCM
INTEREST OFFSET
                           N/A                 YES                  NO                  NO
AGAINST CORP. TAX
MAINTENANCE OPTION         NO                  NO                  YES                 YES
RESIDUAL
                     RISK TO CUSTOMER   RISK TO CUSTOMER     RISK TO CUSTOMER      RISK TO SCM
VALUE
EXCESS MILEAGE
                           N/A                 N/A                 YES                 YES
CHARGE

				
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Description: Metal Pick Up Contract document sample