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Minibus Funding Options

 

Contract Hire

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Contract hire is the easiest and most popular way to finance your new minibus. Choose your term from 24-60 months along with your annual mileage and you will have a fixed monthly cost for your minibus.

Include all your costs for Servicing, MOTs, Tyres, Breakdown Cover and Road Fund Licence within your fixed monthly rental for the duration of your contract. At the end of contract simply return your minibus to us and take out another agreement on a brand new vehicle.

 

Other benefits of Contract hire Include:

  • There is no risk of depreciation leaving you with an unexpected cost in the future. With no ownership risk on your part all you need to adhere to is mileage restrictions and wear and tear regulations to ensure your monthly costs are all you will pay.
  • Most schools will be in the position whereby the VAT portion of your payment is up to 100% recoverable. We recommend checking with your finance department as to how your school treats VAT on this matter.
  • Reduced administration of your vehicles. For example all tax discs are automatically sent to you as required.

Hire Purchase

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Hire Purchase (HP) is a simple way to spread the cost of your vehicle over a set period. At the end of the finance period you own the vehicle outright with nothing more to pay.

Hire purchase is a suitable option for clients who are looking to pay for their vehicle monthly but wish to have full ownership at the end of the agreement. Again CVM Minibuses can add on the fully inclusive maintenance package to this option if required for peace of mind throughout the agreement.

Outright Purchase

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Outright purchase is again a very popular option with our clients particularly if they have been awarded a grant or been given funds to purchase a vehicle outright.

Should your school choose to purchase your next minibus outright we are able to provide our fully inclusive maintenance package at a fixed monthly rental if required. Once again this will cover Servicing, MOTs, Tyres and Breakdown Cover for up to 5 years.