ABOUT US
Why buy, when you could Contract Hire… Remember the Cow on our home page?
Let the risk of the residual value of your new vehicle be somebody else’s problem…
Using a Contract Hire package to acquire your new vehicle is a very efficient use of your valuable funds. It gives you the potential to free-up capital that could be put to better use elsewhere within your business…. Cash-flow is king!
There are tax breaks too! But please... check with your accountant.
When the contract has expired, your vehicle is simply returned - simple and hassle free.
We’ll let you know when to start looking for your replacement in plenty of time.
The Directors of 121 Vehicles Ltd have served in the motor trade for a combined period of over 45 years, working in sales, service and customer care departments within the car, van, truck and trailer industries… so experience, understanding and dedication is a given.
Tim Josse, Managing Director - Served on the board of one of the UK’s largest truck and trailer rental and contract hire companies. He started out on the ‘spanners’ and was Sales & Marketing Director for over 15 years. He has a very successful track record in providing contract hire products to literally thousands of customers – from sole traders to some of the biggest names in the industry.
121 Vehicles Ltd is an independent vehicle funding specialist, combining the proven knowledge and skills of our staff with the financial muscle of some of the biggest funders in the UK.
Our company offers a full range of facilities and services to cover virtually every aspect of acquiring, maintaining and disposal of vehicles.
These are our principal services…
• All types of vehicle supplied – Car, Van, Truck & Trailer
• Nearly new vehicles are a speciality
• Door to door delivery
• Vehicle specification assistance particularly on Commercials
• Full fleet management is available
• Accident management is available
• Personal contracts on new and used cars
• All types of funding methods are available
• Bespoke racking and conversions undertaken
• Dedicated account managers
Now… enjoy that glass of milk.
Car & Van Leasing Explained
The concept behind leasing a car or van is relatively straightforward: the lessee - that is, the person or company to whom a lease is granted - pays a deposit followed by a series of monthly payments, typically over a period of between two and four years. At the end of that period, the lessee has the option of returning the vehicle to the leasing company, buying the vehicle outright or taking out a new lease, possibly on a new vehicle.
Vehicle Leasing
The monthly payments on a leased vehicle are calculated based on the difference between its retail value at the start of the lease and its estimated residual value at the end of the lease, after depreciation has been taken into account. This means that monthly payments are lower than if you were buying the vehicle outright, which may mean that you can lease a vehicle that would otherwise be beyond your budget. There is, however, an annual mileage component; you will be required to estimate your annual mileage for the duration of the lease and the higher your mileage, the higher the payment. If you exceed your estimated annual mileage a leasing company may well impose additional mileage charges.
Nevertheless, the combination of a low deposit, typically equal to three monthly payments, low monthly payments and the flexibility to change vehicle every two to four years, without worrying about depreciation, selling or buying make vehicle leasing an attractive proposition for many drivers. Depreciation of course is the reduction in the value of a vehicle over time. The age, condition and mileage of a vehicle are all contributory factors, but certain makes and models of vehicle depreciate less than others. According to the Automobile Association (AA), the average car loses approximately 60% of its value after three years, based on 10,000 miles, per year. A 1.8-litre Ford Focus Hatchback Style, the best-selling car in the U.K., bought new for £16,795 can be expected to be worth some £5,466 after three years (a depreciation of just over 67%), according to figures from the Society of Motor Manufacturers and Traders (SMMT).
Furthermore, a car or van can be leased with full maintenance cover in addition to the manufacturer`s warranty. This means that servicing, repairs, etc. are covered for the duration of the lease and means that you can fix your cost of motoring. Some, but not all, leasing schemes also include annual road tax.
Road tax may be inclusive in some leasing deals, but car or van insurance definitely is not. A leased vehicle still belongs to the leasing company, so you will be required to purchase fully comprehensive insurance for the vehicle, including sufficient liability cover to protect you and the leasing company from claims in the event of an accident that is your fault. It may well be that this insurance cover is more extensive than you would otherwise choose, so make sure that you shop around for several car insurance quotes, so that you can choose the most competitive deal.
