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 [...]

WESC Foundation Launches Lifestyle Lease

WESC Foundation choses Maxxia’s Enhanced Lifestyle Lease Employee Benefit Car Scheme The WESC Foundation has selected Maxxia’s Lifestyle Lease car scheme to broaden the number of employee benefits available to its staff The Foundation employs more than 200 people and provides a range of services for visually impaired adults and young people, including: education, outreach services, adult day services, work experience at a range of social enterprise initiatives, and lots more. Lifestyle Lease offers an innovative and unique solution for companies looking to provide their employees with an employee benefit car scheme, as the lease agreement is with the employee, not the employer. If a staff member leaves to work [...]

Personal Car Leasing Options – What’s Best For You?

Personal Car Leasing Options – What’s Best For You? More and more new car buyers are waking up to the benefits of personal car leasing to acquire a brand new car rather than buying one outright with their own savings. There are a number of personal leasing options available in the car finance arena, the two most common being personal contract purchase (PCP) and personal contract hire (PCH), each with their own features and benefits. Types of buyers trying some form of personal car leasing package for the first time may include company employees who have taken a cash allowance in lieu of a company car, perhaps because they have [...]

By |August 16th, 2017|Categories: Vehicle Finance|0 Comments

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 [...]

How To Finance A Business Van For Your Company

How To Finance A Business Van For Your Company Business vans. A vital component of small and large businesses nationwide, but buying a business van outright can have a huge impact on cash flow and consequently your business. So when buying outright isn’t an option it can leave you with older van models that may not be serving you so well. There’s an affordable alternative however. Business van finance allows you and your company to make use of a van with a finance agreement tailored to your needs, giving you access to a new vehicle in return for regular affordable payments. Use our guide below on getting to grips with [...]

By |April 4th, 2017|Categories: Vehicle Finance|0 Comments