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Finance Options at Rygor
Rygor Commercials New Mercedes-Benz Trucks
At Mercedes-Benz we understand the complexities of running a modern-day business, but did you know you can get much more than just company vehicles from us, we offer a variety of finance agreements that can aid both you and your business.
Do you want to own it?
Hire Purchase
A straightforward route to ownership. It allows you to spread the overall cost for a fixed term. The vehicle is an asset on the balance sheet but without significant drain on working capital.
Do you want to lease it?
Contract Hire
This gives the ability to enjoy driving a Mercedes-Benz without having to take on full ownership. With Contact Hire the vehicle is leased for a fixed period and for a fixed monthly rental, which includes the cost of the road fund licence.
Finance Lease
The vehicle will appear as an asset on the balance sheet, without the option of ownership as the vehicle is hired for a fixed period.
Operating Lease
A solution for those who want to drive one of our vehicles over a fixed term, with lower monthly rentals and without the worries or commitment of ownership.
What is Hire Purchase (HP)?
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What is Hire Purchase (HP)?
Decide the amount you would like to put down as a deposit on your chosen vehicle and agree the term of your agreement. Then throughout the term of your agreement you pay the regular instalments over the agreed term until the remainder of its value is repaid.
What are the advantages of HP?
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- Fixed regular payments means you can easily budget
- A flexible deposit and repayment term means you can tailor the financial agreement to suit you
- Monthly payments are not based on annual mileage
- The vehicle is an asset on the balance sheet, therefore tax allowances may be deducted from taxable profits
At the end of your agreement - Pay your final payment and Purchase Activation Fee, and you’ll own your vehicle outright.
What should you consider when opting for HP?
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- Monthly payments may be higher than some other finance options as you're paying off the full value of the truck.
- You won’t be able to sell the truck without settling the finance.
- You won’t own the truck until you have made all of your repayments.
- You’ll need to keep the truck properly insured, maintained and in your possession until the full value is paid off.
Can I settle my HP agreement early?
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Throughout the life of your finance agreement your circumstances may change and you may wish to settle your agreement early or take ownership of your vehicle. If you have an Agility or Hire Purchase agreement, Mercedes-Benz Finance offer several ways in which you can request an early settlement quotation:
Email - mbfscv@daimler.com
Call - 0370 847 0700 for an automated settlement quote 24/7
Operating Lease
A solution for those who want to drive one of our vehicles over a fixed term, with lower monthly rentals and without the worries or commitment of ownership.
How Operating Lease works
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At the start of your agreement you pay an advance rental upfront. Your monthly rentals are based on the difference between the initial value of the vehicle and its projected residual value at the end of your agreement. Therefore, only a proportion of the vehicle’s value is repaid, keeping your monthly rentals lower.
What's included?
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- Pay an advance rental upfront
- Fixed regular monthly rentals (that include VAT) means you can easily budget
- Rentals are allowable against taxable profits (proportionally)
- VAT is reclaimable depending on usage (proportionally)
- Rentals are based on your annual mileage agreed at the start of your agreement and only on a proportion of the vehicle’s value, keeping your monthly payments lower
What happens at the end of your agreement?
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Mercedes-Benz will arrange the collection of your vehicle at the end of your agreement. You simply hand back your vehicle subject to it being in line with Mercedes-Benz’s Vehicle Return Standards as vehicle condition, excess mileage and other charges may be payable.
Contract Hire
This gives the ability to enjoy driving a Mercedes-Benz without having to take on full ownership. With Contact Hire the vehicle is leased for a fixed period and for a fixed monthly rental, which includes the cost of the road fund licence.
How Contract Hire works
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At the start of your agreement you pay an advance rental upfront. Your monthly rentals are based on the difference between the initial value of the vehicle and its projected residual value at the end of your agreement. Therefore, only a proportion of the vehicle’s value is repaid, keeping your monthly rentals lower.
You can also include the cost of the vehicles maintenance into your monthly rentals, choosing from one of our three maintenance options: Service Only, Full Maintenance or Full Maintenance with Tyres. This means the cost are fixed over the terms of your agreements, allowing you to budget easier and reducing any unexpected costs. If you prefer you could choose for a no maintenance option instead.
What's included?
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- Pay an advance rental upfront
- Fixed regular monthly rentals (that include VAT) means you can easily budget
- Rentals are based on your annual mileage agreed at the start of your agreement
- Repair and Maintenance options are also available
- Rentals are allowable against taxable profits (proportionally)
- VAT is reclaimable depending on usage (proportionally)
- We will also administer any speeding and parking fines when necessary
What happens at the end of your agreement?
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Mercedes-Benz will arrange the collection of your vehicle at the end of your agreement. You simply hand back your vehicle subject to it being in line with Mercedes-Benz’s Vehicle Return Standards as vehicle condition, excess mileage and other charges may be payable.
Finance Lease
The vehicle will appear as an asset on the balance sheet, without the option of ownership as the vehicle is hired for a fixed period.
How Finance Lease works
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At the start of your agreement, you decide on the length of your agreement and pay an agreed number of advanced rentals up front. These rentals are based on the vehicles value over the term of your agreement.
Alternatively, you could opt for a lump sum payment. This option features a large payment that is due at the end of the agreement. This will reduce your regular payments.
Then throughout your agreement you make regular instalments until your agreement comes to an end.
What's included?
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- Fixed regular rentals enable you to easily budget
- Rentals are not based on annual mileage
- The vehicle is an asset on the balance sheet, therefore tax allowances may be deducted from taxable profits
End of Agreement Options
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- Extend your agreement
- Continue to use the vehicle for a further agreed period and pay a ‘peppercorn’ payment equal to one month’s rental per annum.
- Sell your vehicle to an independent third party
- Mercedes-Benz will invoice the third party and return 95% of the sales proceeds to you.
- Return the vehicle and we will sell it on your behalf
- Mercedes-Benz will sell the vehicle on your behalf and will return 95% of the proceeds to you (minus any reseller fees).