Beat The Congestion Charge - Buyers Guide To Purchasing A Congestion Charge Exempt Vehicle

How much could you save?
By driving a green vehicle you will not only save on fuel costs or the Congestion Charge of £8 per day but also you will benefit from lower Road Tax and lower Company Car Tax (if applicable).

BAND	CO2 emissions g/km	Diesel		Petrol		Alternative Fuel
		12mth	6mth	12mth	6mth	12mth	6mth
A	Up to 100	£0.00	-	£0.00	-	£0.00	-
B	101-120	£35.00	-	£35.00	-	£15.00	-
C	121-150	£115.00	£63.25	£115.00	£63.25	£95.00	£52.25
D	151-165	£140.00	£77.00	£140.00	£77.00	£120.00	£66.00
E	166-185	£165.00	£90.75	£165.00	£90.75	£145.00	£79.75
F	Over 185	£205.00	£112.25	£205.00	£112.25	£190.00	£104.50
G	Over 225	£300.00	£165.00	£300.00	£165.00	£285.00	£156.75

How do I apply for the finance of my new vehicle?
Simply fill out the online enquiry form, once we have received your information we will get the ball rolling. We will keep you informed of the progress at all times via e-mail or the phone.

How long will if take to get my new vehicle?
From the time of enquiry to the delivery of your new vehicle should be no more than 2 weeks (subject to availability of vehicle ordered). With our experience in the motoring industry you will find it absolutely effortless.

Finance Options Expained
Click on the relevant finance options below to give you detailed information.

Finance Lease
Finance Lease is a VAT free method of financing a vehicle, normally for VAT registered businesses or companies. The monthly rental is determined by the cost of the vehicle, the period and the estimated future value of the vehicle which is based on the proposed annual mileage.

A payment equivalent to the estimated future value is payable at the end of the contract. At the end of the contract period, the vehicle is sold and the proceeds returned to the Lessee. Maintenance packages are often available, if required.

There are 2 options that can be taken when opting for the finance lease method. They are:

You should keep in mind the fact that you will never take ownership of the vehicle as the balloon payment must be paid to the finance company and the car or van must be sold to a third party.

Finance Lease is a fixed-term finance method that will show the vehicles as an asset on a companies balance sheet.

Lease Purchase
Lease Purchase is an agreement where ownership of the car is transferred to the customer at the end of the contract, subject to all terms and conditions being met. Monthly instalments are calculated taking into consideration the cost of the car, initial rental amount, length of contract, and the final balloon payment.

Lease Purchase is well suited for companies who would like to retain the car at the end of the contract as a company asset.

Customers can show the vehicle as a balance sheet item they can then write down the value against taxable profits and claim capital allowances. Lease purchase provides for a balloon payment that is normally equivalent to the projected market cost of the car at end of the contract. The VAT cannot be recovered on the purchase price of the car

Ownership, maintenance and disposal risks remain with the customer during the length of the contract.

Contract Purchase
This method of funding is ideal for companies who cannot fully reclaim the VAT and is particularly suitable for financing the more expensive cars.

It was introduced to alleviate the burden on companies who were unable to reclaim the VAT on their monthly payments, and to overcome the cost of the Corporation Tax implications for cars costing over £12,000.

The Main difference between Contract Purchase and Contract Hire is that you have the opportunity to buy the vehicle at the end of the contract period. You will be faced with paying a 'balloon payment' at the end of the contract, you then become the legal owner or alternatively you can return the vehicle to Platinum.

If your company is restricted in the amount of VAT it is able to reclaim, or you have several expensive (typically in excess of £25k) cars in your fleet, it may make financial sense to retain ownership of your vehicles. This, however, exposes your business to all of the risks inherent in administering, maintaining and particularly disposing of a fleet.

Contract Purchase offers all the operational, managerial and administrative benefits of Contract Hire, together with the tax-efficient benefits of ownership, such as the ability to claim capital allowances.

Your company enters into a finance agreement for the vehicle for a pre-determined period at a fixed monthly rate.
You have the option to buy the vehicle when the contract is up by making a final 'balloon' payment, agreed at the start of the term. Alternatively you can return the vehicle to us, with nothing further to pay, subject to return conditions being met
The single, fixed monthly payment takes into account the cost of the car, its rate of depreciation, the length of the contract, mileage and any additional services you may wish to build in.
The majority of our customers choose to include maintenance cover, with full AA breakdown and recovery service.

Business Contract Hire
Release Capital - If you are currently purchasing your vehicles through your own funding, you are inadvertently tying up a valuable proportion of your company’s financial resources. Contract Hire releases these funds for more profitable use.

Accurate Budgeting - With Contract Hire, all costs are calculated by experts and built into a fixed monthly payment. Vehicle costs can be forecast accurately for up to five years. Paperwork is almost eliminated and budgets tightly controlled.

Tackles Depreciation - Owing to our buying power, we can purchase vehicles at cheaper rates. Efficient vehicle disposal always enables Platinum to accurately assess resale values. Only the minimum depreciation is passed on to our customers, resulting in realistic rentals.

Improves Cash Flow - Contract Hire will improve your company's cash flow through low initial outlay.
Freedom of Choice - We can supply all makes of cars and vans at competitive Contract Hire rates. You choose the model, colour, specification and extras to suit you. We offer expert and unbiased advice on all makes and models that might meet your needs and budget.

Off Balance Sheet Funding - Contract Hire is classed as an operating lease, which means that the vehicles do not show as depreciating items on your balance sheet. Rentals are classed as a revenue expense and are shown in the profit and loss account.

Reduces Administration - Are your management and staff currently weighed down with time-consuming vehicle administration? Contract Hire releases them from this burden, so they can achieve more profitable objectives. Contract Hire significantly reduces paperwork. The Road fund licence is supplied and renewed automatically.

Enhances Company Image - With Contract Hire you will always have modern and presentable vehicles. Contract Hire will also give you a disciplined replacement program. Remember, your competitors may already be enjoying these benefits!

VAT Benefits - Contract Hire has many VAT benefits. Platinum can reclaim the VAT on the purchase price of the vehicle and pass on this benefit to our customers. Also, once the vehicle is on the road, you can claim back 50% of the VAT on the finance element (if the vehicle is available for personal use or 100% if only available for business use) and 100% of the VAT on the maintenance element of the rental payments.

Mileage & Maintenance Reviews - Platinum can provide annual mileage reviews as part of our service to you. This enables us to identify if any of your vehicles are over or under contract mileage. We can then advise you whether it is possible to re-contract mileages prior to the end of the contract. This minimises any excess mileage charges.

Special Benefits for Larger Fleets - For customers that have more than 10 vehicles or more we are able set up a Pooled Mileage Agreement. This means Contract Hire terminations that are over contract mileage can be offset against contracts terminating under contract mileage.

Peace of Mind - With monthly payments fixed over the entire contract period and a range of optional extras, Contract Hire takes away the worry and trouble of managing your company’s cars and vans.

A Selection of Cost Options - Breakdown recovery service, including home start and relay Replacement vehicle for mechanical breakdowns or accidents.
Routine maintenance and unscheduled mechanical repairs including replacement tyres, batteries and exhausts.

Personal Contract Purchase (PCP)
The major benefit of Personal Contract Purchase is that there is an opportunity for you to purchase the vehicle at the end of the contract period by making a final 'balloon' payment, agreed at the start of the contract. As an alternative the vehicle, at the end of the contract, can be returned to the finance company.

The fixed monthly payment takes into account the cost of the vehicle, its rate of depreciation, the length of the contract, mileage and any additional services that may be required.

Hire Purchase HP
A deposit is paid and the remaining balance plus interest is then divided into a fixed monthly payment.

At the end of the agreed term you will own the vehicle, however this does mean that the monthly payment is likely to be significantly higher that using a finance method that incorporates a final balloon payment.