Your deposit can be as little as 1 monthly payment in advance. The higher the deposit amount, the lower the cost of each subsequent monthly payment. Most customers pay an equivalent of 3 monthly payments in advance, but further increasing the deposit amount is a good way of achieving a certain monthly budget. For commercial vehicles (i.e. vans!), you must pay the VAT on the purchase price of the vehicle at the start of the contract, then if you are VAT registered, you can reclaim this VAT on your next VAT return.

Your monthly payments are determined by the vehicle type, deposit amount, contract term and mileage allowance. Contract terms run from 24 months to 60 months. Generally the longer the contract term, the lower the monthly payments.

At the end of the contract, you must make all of the payments, and take full ownership of the vehicle. Some customers spread the total amount payable over the term and own the vehicle once the final monthly payment is made, and some customers prefer to reduce their monthly payments, by leaving a final balloon payment at the end of the contract. Our advisers can discuss your requirements and suggest the best solution to match your requirements. You can sell the vehicle at any point throughout the contract, and use the sales proceeds to clear the outstanding settlement figure. If there is equity in the vehicle, thYour Yorkshire Fleet account manager will contact you 6 months prior to the contract end date to discuss your requirements.