Company Car Schemes– Keep or Discard?

Thinking Of Ending Your Company Car Scheme? Announcements in the 2017 Government Autumn budget of tax increases on company vehicles have prompted many businesses to consider giving their employees cash allowances in place of running company car schemes. On the face of it, this would seem to be a cost-effective solution for the company, but comes with often-overlooked ramifications which impact on employees and company alike. Some of these consequences appear to be relatively minor but, taken as a whole, can seriously affect the business in several areas and may even raise costs, instead of reducing them. Costs to employees Companies have access to corporate leasing discounts, which individual employees [...]

Maxxia Joins FN50

Fast-growing Maxxia Joins League Of Top Leasing Companies Maxxia, already one of the country’s largest and fastest-growing broker businesses, has entered the FN50 league table of the top 50 contract hire and leasing companies in the UK for the first time. The Group, which has witnessed strong UK growth as the result of organic growth and targeted acquisitions, has seen saw the number of its employees more than double in the last three years while the value of its transactions has increased by 14 times over the same period. Maxxia was one of five newcomers to this year’s league table of leading leasing companies, which between them operate a combined [...]

Personal Car Finance Increases

Personal Contract Purchase and Personal Contract Hire Fuels Growth in the UK Car Leasing Market More new car buyers are alive to the benefits of personal leasing, according to the latest quarterly survey carried out by the British Vehicle Rental and Leasing Association (BVRLA). Total car leasing, including leasing of all types, grew by 8% year-on-year in the second quarter of this year, and much of this growth has been driven by the personal contract hire and leasing (PCH) sector. The BVRLA figures show that the PCH sector has grown by 36% year-on-year and 7% quarter-on-quarter. Personal lease cars are not greener However, there is an environmental downside to this [...]

Contract Hire Explained: Most Popular Vehicle Funding In UK

Contract Hire Explained – A Guide To The UK’s Most Popular Vehicle Funding Method There has been a definite shift towards the contract hire of company vehicles since the last recession, not least because it provides known, easily budgeted costs with no hidden surprises. But what is contract hire exactly and how does it work? What is contract hire? It’s the most popular type of vehicle leasing in the UK, and allows the end user or lessee to hire a car for a set period of time and pre-determined mileage, in return for a fixed monthly contract hire rental. How does contract hire work? There is no option for the [...]

Vehicle Funding Guide

Vehicle Funding - What are the Options? Introduction In the UK, the majority of business vehicles are sourced using contract hire, although other vehicle funding options are available and may be more suitable to your organisation. This vehicle funding guide has been created to help you understand the differences between funding options and think about what might suit you/your business the most. Here we review some of the options: Contract hire Finance lease Sale and leaseback Contract purchase Hire or lease purchase Outright purchase   At Maxxia, we offer a wide range of business car finance options and will work with you to find the right fit for [...]

How does sale and leaseback work?

How sale and leaseback could work for you Need help determining the right route when it comes to investing in business vehicles? If your organisation has previously purchased vehicles outright, it may be worth taking a different approach and considering alternative finance options. Buying vehicles outright could be putting unnecessary financial strain on your business, but this is not, by any means, the only method of acquisition available to you. Here’s how to make the move to contract hire, starting out with a sale and leaseback agreement.   What is sale and leaseback? Sale and leaseback is when a company sells its purchased vehicles to a third party contract hire [...]

Minibus Rental Or Minibus Lease?

Minibus Rental Or Minibus Lease? Transportation for any organisation can be costly and should be managed with care in order to reduce unnecessary expenditure. So when it comes to sourcing and funding a minibus, it is worth weighing up all your options before diving straight into buying outright. Have you thought about minibus rental? Or considered minibus leasing? Each has its merits and should be closely considered before handing over large sums of capital, that could affect the health of your cash flow. Why rent a minibus? With a quick and easy one-off payment, you could have the use of a minibus for a short amount of time depending on [...]

Van Leasing: What You Need To Know

Van Leasing: What You Need To Know Need to source some new or additional vans for your business? Considering van leasing? For businesses where the transportation of goods or a delivery service is required, a fleet of vans can be crucial to the effective running of the organisation. Expanding or replacing your vans will require significant investment and managing that in a way that does not impact heavily on your business cash flow, can be tricky. If you’re currently in the process of procuring vans, you may want to weigh up the options of commercial van leasing and buying outright. It could help you to balance the books even when expensive [...]

Business Car Leasing Explained

Business Car Leasing Explained Buying vehicles for business purposes inevitably means handing over a large lump sum and is accepted by most businesses as a necessary expenditure, but this doesn’t have to be the case. The option of leasing a business vehicle is becoming increasingly popular in the UK, allowing companies to offer business vehicles to their employees, but with a smaller capital outlay, and as a result, a much healthier cash flow. So what is the process of business car leasing, how does it work, and will it benefit you? What is business car leasing? A business car lease allows employees the use of a vehicle for business purposes [...]