Used Truck Financing

PACCAR Financial - Your finance and lease partner for used trucks

PACCAR Financial provides a full range of finance and lease products for those customers wishing to operate used DAF vehicles which are about to enter service with their new owner. A range of DAF Used trucks are available at Ford & Slater Leicester.

 

Note that DAF Used Trucks have a known history; are subjected to rigorous checks; and are available from Ford & Slater Leicester. Above all, whichever way you look at it, once a DAF truck always a DAF truck.

For more information about the used vehicles currently available please visit the Used Truck area of this website.

Support your choice of a DAF Used Truck with one of the many finance and lease products available from PACCAR Financial.

Please contact our team who can discuss with you all the available options and help you find the tailor-made solution that meets your needs.

We finance your used trucks, for a period of 24, 36, 48 and 60 months. (n.b. Due to the value of the asset, only vehicles up to 7 years of age at end of contract can be considered for financing)


Finance Lease

By choosing a fixed rate Finance Lease contract you can hire a DAF truck for a fixed period of time without the burden of a large up front VAT payment. The fixed monthly rentals give peace of mind and can help to improve your cash flow.  Subject to credit approval, we can offer a wide range of flexible payment options including structured or seasonal rental schedules and balloon payments. Opting for a final balloon payment can substantially reduce your monthly rentals.

As Lessor, PACCAR Financial owns the vehicle and when all rentals have been paid you can extend the use of the vehicle on a year by year basis on payment of a nominal, upfront, annual rental. Alternatively the vehicle can be sold with a major part of the net sale proceeds being refunded to you by way of a rebate of your rentals. Finance lease can also be beneficial from a tax point of view, and you should discuss what is best for your individual circumstances with your accountant

Main characteristics of finance lease:

  • Monthly rental payments including VAT
  • Total monthly payments can be offset against taxable profits
  • Option to extend the agreement
  • On balance sheet for the customer.
  • Ownership with PACCAR Financial

Main benefits of finance lease:

  • Low capital outlay
  • 100% financing (unless agreed otherwise) preserves your working capital
  • Cash flow impact of VAT is minimized
  • VAT on rentals is reclaimable
  • Customer can reduce tax bill by offsetting rentals against taxable profits
  • Improved cash flow from known monthly rentals
  • Can be tailored to your specific operating environment

Operating Lease

PACCAR Financial will purchase the vehicle of your choice, for your use for the duration of your Operating Lease contract with us. However, because of a Residual Value (RV) figure in the transaction, your monthly payment can be significantly reduced. Each contract is tailor made to the specific requirements of the customer and the operating conditions of the vehicle, with structured payment profiles available to assist your cash flow. The rental payments can normally be offset against taxable profit and with VAT being paid on the rental payments and not the purchase price of the truck it further aids your cash flow. Therefore with the risk in the Residual Value of the vehicle staying with PACCAR Financial you can enjoy the use of the vehicle without the burden of ownership - all for a low initial capital outlay and fixed monthly rentals.

Main characteristics of Operating lease:

  • Rental agreement with a fixed duration and total kilometres
  • Monthly rental payments including VAT
  • Total monthly payments can be offset against taxable profits
  • Ownership is with PACCAR Financial.
  • Lessor takes risk in the RV
  • Possibility to include additional services in the lease rental (such as a Ford & Slater Leicester Repair & Maintenance agreements)
  • End of contract Options: to return the vehicle in line with return conditions of the Operating Lease, or request an extension of use.
  • Off Balance Sheet for the Customer

Main benefits of Operating lease:

  • Cash flow impact of VAT is minimized
  • VAT on rentals is reclaimable
  • Lower monthly payments as a Residual Value(RV) is in place
  • Improved cash flow from known monthly rentals
  • You can reduce your tax bill by offsetting rentals against taxable profits
  • PACCAR Financial takes the risk of ownership on the asset depreciation
  • No impact on your balance sheet
  • No worry or risk at the end of the agreement or further extension

DAF HirePlus

PACCAR Financial offers Operating Lease bundled with a DAF Trucks Repair and Maintenance(R&M) Agreement through its HirePlus product. R&M charges are included within the monthly rental payments, spreading the cost evenly throughout the term. This allows you to remove depreciating assets from your balance sheet and reduces the financial risks of owning and maintaining vehicles.

Main characteristics of DAF HirePlus:

  • Rental agreement with a fixed duration and total kilometres
  • Monthly rental payments including R & M charges and VAT
  • Total monthly payments can be offset against taxable profits
  • Ownership is with PACCAR Financial.
  • Vehicle will be written down to a residual value (RV)
  • At the end of the agreement you just give the vehicle back as per certain return conditions or request an extension if you wish to continue to use the vehicle.

Main benefits of DAF HirePlus:

  • Cash flow impact of VAT is minimized
  • Lower monthly payments as a Residual Value(RV) is in place
  • Improved cash flow from known monthly rentals
  • You can reduce your tax bill by offsetting rentals against taxable profits
  • PACCAR Financial takes the risk of ownership on the asset depreciation\
  • No impact on the balance sheet of the customer
  • No worry or risk at the end of the agreement or further extension, just give it back and pay any excess mileage and damage charges if applicable.

Hire Purchase

Enjoy the balance sheet benefits of economic ownership of the vehicle. You can also choose between a fixed or variable interest rate, whichever suits your business. When all payments have been made, you own the vehicle. Full VAT is payable with the initial deposit payment

Main Characteristics of Hire Purchase

  • The vehicle is treated as “on balance sheet”
  • PACCAR Financial has legal title to the vehicle until all instalments and final option fee have been paid, after which the customer takes final ownership.
  • Choice of fixed or variable interest rate
  • Fixed monthly payments throughout can include seasonal payment schedules or even a balloon payment at the end of the contract, to lower the monthly costs.

Main Benefits of Hire Purchase

  • The mutually agreed deposit will include the full VAT on the cost of the vehicle which is reclaimable by you.
  • You can claim writing down capital allowances, reducing your tax bill.
  • You can offset interest element of monthly payment against taxable profit.
  • You enjoy 100% of the benefits of the asset value and it is on the balance sheet
  • Known cash flow with repayments not subject to VAT.
  • Product can be tailored to your operating environment by structuring the payments to your specific requirements.

Contract Purchase
All the benefits of Hire Purchase but with lower scheduled payment values and greater flexibility at the end of the contract. The key is a Guaranteed Future Value (FV) provision of the final balloon payment. The choice is yours, to either pay the balloon to take ownership of the truck, or return the vehicle to us and subject to certain return conditions, walk away owing nothing more

Main Characteristics of Contract Purchase

  • The vehicle is treated as “on balance sheet”
  • Guaranteed Future Value (FV) provision in place
  • PACCAR Financial has legal title to the vehicle until all instalments have been paid together with payment of a “balloon” (the FV) at the end of the contract, after which the customer can take final ownership.
  • Full VAT amount payable at the outset.

Main Benefits of Contract Purchase

  • Regular monthly payments are kept low.
  • You can reclaim the full VAT paid up front
  • You can claim writing down capital allowances, reducing your tax bill.
  • You can offset the interest element of the monthly payment against taxable profit.
  • Greater flexibility at the end of the agreement with the option to not make the final balloon payment and hand the vehicle back as per return conditions.
  • Known cash flow with repayments not subject to VAT
  • Product can be tailored to your operating environment by structuring the payments to your specific requirements.



Ford & Slater Leicester