Example, not a real customer
A 17 seat minibus for a school
An academy replacing an old school minibus. Used 17 seat minibus.
- price plus VAT
- £26,000
- VAT as the deposit
- £5,200
- a month for 48 months
- £658
Four years matches the school budget cycle and suits a minibus that will then be replaced. The governing body approves the agreement before it is signed, and as a VAT registered academy trust the VAT may be recoverable.
Worked out at an illustrative fixed rate of 9.9% a year. Total payable £36,793 including the VAT deposit.
Example, not a real customer
A Euro VI coach for a private hire operator
A family coach firm adding a vehicle for school and private hire work. Used Euro VI 53 seat coach.
- price plus VAT
- £95,000
- VAT as the deposit
- £19,000
- a month for 60 months
- £2,014
A Euro VI coach can enter clean air zones without a daily charge, which protects both earnings and resale value. Five years keeps the payment in line with what the school contract pays.
Worked out at an illustrative fixed rate of 9.9% a year. Total payable £139,828 including the VAT deposit.
Example, not a real customer
A wheelchair accessible minibus for a charity
A community transport charity. Used 16 seat minibus with a passenger lift.
- price plus VAT
- £32,000
- VAT as the deposit
- £6,400
- a month for 60 months
- £678
The trustees approve the agreement before it is signed. A charity running under a Section 19 permit needs no operator licence, but the lift still needs regular thorough examinations.
Worked out at an illustrative fixed rate of 9.9% a year. Total payable £47,100 including the VAT deposit.
Example, not a real customer
A midi coach for a private hire firm
A private hire operator moving up from minibuses. Used 33 seat midi coach.
- price plus VAT
- £48,000
- VAT as the deposit
- £9,600
- a month for 60 months
- £1,017
A midi coach takes larger group bookings without the cost of a full size coach. Drivers need a full category D licence, and the vehicle must be on the operator licence before it starts work.
Worked out at an illustrative fixed rate of 9.9% a year. Total payable £70,650 including the VAT deposit.
These examples are illustrations to show how the finance works. Your rate, deposit and term depend on your business, the machine and the lender, and all finance is subject to status.