Finance Lease
Finance Lease provides a more flexible alternative to contract hire allowing the client to choose their preferred method of depreciation either on a fully amortised lease or incorporating a balloon payment to reduce rentals. Funding can be provided using either a variable or fixed rate of interest. The client bears residual value risk for the vehicle but never takes title of the vehicle.
The Finance leases reside on the client's balance sheet. Finance Lease can be combined with a number of other optional services provided by Leasedrive Velo such as:
- Car policy management
- Service, maintenance and repair
- Client services
- Driver services
- Accident management
- Fuel card management
Key Features
- Flexible payment profiles
- No excess mileage or end of contract charges
- With or without balloon payment
- Fixed or variable interest rates
- Tax efficient
- Residual value risk
System
The billing and accounting procedures are managed through ALFA, the industry leading asset finance system, providing a robust financial platform. The ALFA system is complimented by Drive:Manager™, a web-based front-end, developed by epyx providing integrated vehicle procurement, ordering, policy management, service, maintenance and repair, records management and detailed management reporting.
This provides Fleet Managers with a desktop tool to assist them in the running of their fleet and drivers with the ability to compare and order vehicles, progress orders and book routine services. Drive:Manager™ is password protected and, as it is internet-based, it is available 24 hours a day, 365 days a year. Detailed interactive management reporting is available utilising Info:Manager™.
