Finance Lease

9.9% Representative APR

Representative Example

Invoice Price  £4,914.00 + VAT
Cash deposit £99.00 + VAT 
Amount of credit £4,815.00 + VAT 
Charges £1,125.00 + VAT 
Acceptance fee £99.00 + VAT 
End fee £0 
Total charges £1,224.00 + VAT 
Balance payable £6,039.00 + VAT 
Total payable £6,138.00 + VAT 
Representative APR 9.9% 
Duration of agreement 59 
Monthly Payments



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Eligibility criteria:

Applicant must be 18 years or over on application date

Permanent UK Residence

Regular, permanent employment working a minimum of 16 hours per week


Credit is subject to subject to application and status. Anglo Scottish Asset Finance Limited acts as a credit broker and not the lender. We are a Licensed Credit Broker Authorised and Regulated by the Financial Conduct Authority FRN 629574. Registered address: Anglo Scottish Asset Finance Ltd, Unit 12-14 Lumley Court, Drum Industrial Estate, Chester-le-Street, Durham, DH2 1AN

What are the advantages of Leasing?

Reducing your upfront costs - for a small outlay, the vehicle is available straightaway.

Giving you flexible repayments - we can tailor your rental payments to match your cash flow to help you budget more easily.

Reducing tax payments - you pay VAT on the rental payments, not the purchase price, and can normally offset your payments against your taxable profit. For further information, visit the HMRC website.

A finance lease transfers all the risks and rewards of vehicle ownership to you as though you had purchased the vehicle yourself and is an 'on balance sheet' option.

What happens at the end of the lease?

As long as the monthly rentals have been paid you can:

  1. Customer continues to use the vehicle

A secondary rental (peppercorn rental) will be invoiced annually in advance and will be payable annually until you decide to sell the vehicle.

  1. Customer arranges sale as an agent

The customer can sell the vehicle to an independent third party and will receive 97.5% sales proceeds (less the settlement figure if mid agreement). If the vehicle is sold to Anglo Scottish Asset Finance, and all the monthly rentals have been paid along with any balloon payment, we will sell the vehicle to the customer for the equivalent of one monthly rental.

  1. Customer does not continue to use the vehicle

You sell the vehicle to a third party. Once sold, a copy of the sales invoice must be sent to the Finance Company together with 2.5% of the sales proceeds where you retain 97.5% of the sales proceeds.

An Example:

All the payments have been made and a fair market value is £3000 at the end of the term. If the vehicle was traded in for £3000 you will receive £2,925 (97.5%) as deposit for your next vehicle.

Can the agreement be settled early?

Yes. A Finance Lease can be settled at any point during the term. The customer receives 97.5% sales proceeds (less the settlement figure if mid agreement).

Can I see a comparison of finance products?

Questions Finance Lease Hire/Lease Purchase Contract Hire Contract Purchase
Will we own the asset? No Yes No Possibly
Is the asset off-balance sheet? No No Yes No
Can I have a fixed-term agreement? Yes Yes Yes Yes
Is the term extendable? Yes No Possibly Possibly
Can I have a fixed or variable rate? Yes No No No
Will future rentals be linked to the future of the asset? Possibly No Yes Yes
Will the agreement be made on demand? No No No No
Is additional security required? Possibly Possibly Possibly Possibly

Do you have to be VAT registered?

Leasing is available to you whether you are VAT registered or not. If you are not VAT registered, Leasing may be more beneficial as the VAT is spread across the monthly rentals rather than being required up front. This keeps the initial deposit to a minimum and enables you to utilise your capital more effectively within the business.

Can I claim the VAT back on the monthly rentals?

If you are VAT registered, you reclaim up to 100% of the VAT back. VAT is paid monthly and reclaimed quarterly in your VAT return.

Are there mileage restrictions?

No, but the mileage is reflected in the value of your van.

Which finance company will execute the deal?

As a fully Licensed Credit Broker Authorised and Regulated by the Financial Conduct Authority, Anglo Scottish Asset Finance searches the market place to find you the most competitive prices.

Will I own the van at the end of the agreement?

No. When buying a van using Finance Lease you do not own it. However, any equity in the vehicle at the end of the contract is yours.

Who maintains the vehicle?

As if you had purchased the vehicle outright you are responsible to maintain the Goods in accordance with the recommendations of the Supplier or manufacturer of the Goods.

Who insures the vehicle?

You are responsible to insure the vehicle under a fully comprehensive policy as if you had purchased the vehicle outright