Products

PRODUCTS…

We have established excellent relationships with a wide variety of Finance and Contract Hire Companies. These relationships help enable us to advise on various funding options, with some specialist funding arrangements amongst them, Radar can advise on a whole host of products to suit our clients varied business needs.

What do we arrange finance for?
Cars, Commercial vehicles, Plant and Machinery, Bus and Coaches, IT Equipment, fixtures and fixings, indeed most assets of value.

What products are available to meet our client needs?

HIRE PURCHASE / LEASE PURCHASE:
A straight forward repayment facility where you ultimately own the asset upon payment of all the rentals within the agreement.

Repayments can be structured in a flexible way, for example, with lump sum payments or balloon payments reducing the standard rental, VAT Deferral and Variable Payment Patterns.

These agreements are available both as fixed or variable rate of interest.

These products are available to both private individuals and businesses alike.

FINANCE LEASE:
As with Hire Purchase the assets are ‘On Balance Sheet’ assets.

Finance Lease rentals are usually calculated on the Ex Vat price but attract VAT during the agreement.

The customer is not entitled to become the owner of the goods but is entitled to sell the goods at the end of the agreement retaining normally around 95% of the sale proceeds.

Ability to reclaim VAT on the rentals where appropriate.

The client has the additional opportunity to continue leasing the asset entering into the secondary period of the agreement with predetermined annual rentals.

OPERATING LEASE:
Particularly designed for businesses that wish to operate assets with fixed rentals, minimal administration and without affecting balance sheet ratios. Normally the rentals are fixed and attract VAT.

The rentals are calculated on the EX VAT price taking into account the Residual Value placed on the assets by the Supplier or Finance Company.

Title to the goods can never be obtained by the client as the assets are normally returned to the Supplier or Finance Company.

Operating Lease is in effect Contract Hire and therefore a ‘Off Balance Sheet’ product with the rentals offsetting taxable profits.

CONTRACT HIRE:
Used by many businesses which wish to operate cars and light commercial vehicles at a fixed cost. Contract hire is an off balance sheet product with no asset value to the business during or after the return of the vehicle.

Factors which impact on a contact hire rental include; maintenance options and mileage expectations. The better the supply price of the vehicle also ensures cheaper rental

PERSONAL CONTRACT PURCHASE / CONTRACT PURCHASE:
‘PCP’ is a variant of Lease Purchase available to private individuals (Contract purchase available for business). The agreement normally embraces a final balloon / lump sum payment known as the Guaranteed Future Value Payment ‘GFV’. The GFV reduces the rental during the agreement compared with standard hire purchase. However at the end of the agreement the GFV is outstanding.

The options at the end of this type of agreement are:
– Pay the GFV and keep the vehicle
– Hand the vehicle back to the Finance / Contract Hire company
– Use the vehicle as part exchange and any subsequent equity as deposit in a new purchase
– Subject to status some finance companies will re finance the GFV enabling you to keep the vehicle

As with contract hire PCP and Contract purchase rentals are effected by:
– Maintenance options
– Mileage
– Price of the vehicle

BUSINESS LOANS:
Available subject to status, to provide funds for unidentifiable assets, and/or business development. The agreements are usually standard repayment over fixed periods.

VEHICLE LOCATING: 
Using our contacts within the industry Radar is able to use a third party to source both cars and commercial vehicles at competitive terms based on your circumstances. Please call us for a comparison. The vehicles are normally sourced through recommended manufacturer deals who support Radar Finance and Leasing Ltd.


Disclaimer:
All of the above products are subject to status and approval by the finance houses we place our business with.

 

Privacy Notice & Initial Disclosure Document

Authorised and Regulated by the Financial Conduct Authority. FRN number 675719
Radar Finance & Leasing Ltd, Main Rd, Brailsford, Derbys, DE6 3DA Registered in England and Wales, Company Reg.no. 5256561.
We are a credit broker not a lender. 

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