As a Business user you will have specific needs when considering the multitude of financial funding packages available to you, not to mention the time consuming task of shopping around for the best finance rate or price on a new car/piece of plant machinery.
Why Mann Island Finance?
Well, that's where Mann Island Finance comes in.
As probably the largest independent finance and car brokerage operation in the U.K. we have access to most, if not all, of the major financial Institutions in the U.K. including Banks, Finance companies and Contract Hire companies.
Each of these institutions have their own particular strengths and weaknesses, likes and dislikes etc and our job is to match your requirements with one of these institutions who's strength's match your needs or, if it suits your circumstances, with more than one so as to establish more than one credit line for your business.
This service cannot, by definition, be offered by any one company.
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The traditional, but still ever popular, funding option which gives the customer eventual ownership of the vehicle.A fixed cost, fixed period loan that allows you to spread the cost of the vehicle over a period of up to five years. The user is effectively the owner of the asset, but legal title to the car does not pass until the loan is fully repaid including the final payment which includes a nominal "option to purchase" fee. Monthly payments cover the capital cost plus interest and do not carry VAT. For business users the vehicles will be ON the Balance Sheet.
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A popular choice for VAT registered companies that want minimum outlay and maximum control of costs, especially when the maintenance and relief vehicle options are included. With this VAT beneficial financing package, one regular rental payment covers all risks including costs of depreciation and disposal for an agreed period of time and mileage. Road fund licence is included but roadside rescue, maintenance and relief vehicle provision are options that can be added and charged to the rental payment.
Ideal for VAT registered companies who want to handle the administration of their vehicles themselves, and have the asset shown on their balance sheet.
A VAT beneficial finance option where the hirer can choose to pay the entire cost over the agreed lease period, plus an interest charge, or pay lower monthly rentals during the lease period with a final payment based on the anticipated resale value of the vehicle.
For companies with high value cars who would like to option to purchase the vehicles, but don't want any depreciation risks.
The customer acquires the vehicle by paying fixed monthly installments with the asset being shown on the company balance sheet, and can either retain ownership at the end of the contract or hand the vehicle back. Contract purchase has the added benefits of saving on maintenance and relief vehicles, and comes with full dial rescue breakdown cover and road fund license.
Similar to Hire Purchase, but with the added advantage of the finance company guaranteeing a minimum future value on the vehicle at the end of the period.PCP is for private individuals who want the option of eventual ownership coupled with the security and peace of mind of the finance company guaranteeing that the vehicle will be worth a specified minimum amount (subject to normal wear and tear and an agreed mileage) at the end of the period. In essence, you pay a low initial deposit followed by a fixed monthly rental for the period of the loan. At the end of the agreement the guaranteed future value becomes relevant and you, the customer, have 3 choices: - You can buy the vehicle by paying the guaranteed future value and the car is yours. This value is fixed at the start of the agreement and will be as stated on your original documentation.
- You can hand the car back to the finance company and take another car through Mann Island Finance. You are only liable for any excess mileage and any damage other than from fair wear and tear.
- You can part exchange the vehicle against a new vehicle of your choice.
For non - VAT registered companies that want eventual ownership of the vehicle.
A funding agreement where the company acquires ownership when all the payments, including the option to purchase fee have been made. Part of the capital cost of the vehicle payment may be deferred into a "balloon" payment at the end of the agreement which equates to the anticipated value of the vehicle at the end of the leasing period.
For companies wishing to retain the use of their vehicles, yet generate capital from their sale, whilst transferring to a VAT beneficial funding method.
If a company currently owns its vehicles, this option means Mann Island Finance Limited will purchase the vehicles for an agreed price and lease them back using either contract hire or finance lease.
For private individuals who want a hassle free and cost effective way to finance and maintain a vehicle.
Consultation and assessment of your requirements may reveal Mann Island Finance Limited's personal leasing product is the ideal vehicle financing solution for your business and personal needs. PCH allows you to enjoy significant tax advantages, a choice of new or used vehicle every two or three years for a fixed monthly charge that is easy to budget for, as well as an all-inclusive maintenance and breakdown package.
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