OP's financing options for company cars can be divided into leasing and hire purchase. Our leasing solutions are finance lease and Leasing plus, which includes servicing and other additional services. A common feature of all alternatives is that the car serves as collateral for the financing and you can estimate the costs of acquiring a car beforehand.
Does your company only need financing or would you like to combine financing with servicing?
If you only need financing for your company's fleet, we recommend hire purchase or finance lease. Leasing plus is a full service solution enabling easy management of your fleet and its useful life. The lease includes regular maintenance, inspections, a replacement car and seasonal tyre changes. After the contract expires, you can return the car to the car dealer.
Would you like to own the vehicle when the contract expires?
When you choose hire purchase financing, your company will own the car after the hire purchase contract expires. If you do not wish to tie up your company's assets to ownership, we recommend leasing a car for a specific period.
If you choose Leasing plus, your company only needs to return the car to the car dealer when the lease period expires, and depreciation will not be a cause for concern. In finance lease your company is responsible for finding a new buyer, which means that you will also carry the depreciation risk, but you may also receive compensation if the car's selling price is higher than its residual value.
What is your desired balance sheet and profit impact?
Our lease and hire purchase solutions have a different impact on your company's balance sheet and income statement. In leasing, the car is an off-balance-sheet item and the leases are included in expenses in the income statement. In hire purchase, the car is included in the balance sheet and your can enter depreciation in normal fashion even though title to the car is not transferred to your company until after the expiry of the contract.
All your motor vehicle insurance premiums in the same bill
You can also select OP Comprehensive Motor Vehicle Insurance Plus Financing as the insurance solution. It includes motor liability and motor vehicle insurance. Comprehensive Motor Vehicle Insurance Plus Financing is suitable for privately used passenger cars and vans of both private individuals and businesses. Comprehensive Motor Vehicle Insurance Plus Financing enters into force at the same time as the financing agreement and the insurance premiums are paid as part of OP’s monthly car financing payments. In other words, you pay both financing and insurance on a single bill.