Professional Approach

From Private user to Business user, we have a finance product that suits your budget.

Many people who are looking to purchase a Horse box need to know how to fund their vehicle correctly.

We will talk with you to establish the best funding option for you.

VAT payable on Commercial vehicles

Whether you are a Private user or Business user, a Horse box if purchased from a dealer is deemed as a Commercial Vehicle.

This as you are aware attracts 17.5% VAT on the purchase price.

We are able to fund the price of the Horsebox + VAT (The Gross amount) over the period of the agreement.

This means if you are a Private user, you don’t need to think about the initial deposit plus VAT, you only need to think about deposit.

If you are a Business user, we can also fund the VAT over the entire term of the agreement and you can reclaim the VAT back – which in turn gives you extra cash flow.

Packages tailored to suit your needs – Totally flexible finance options

This is based typically on a 48 month lease purchase agreement with a final balloon payment on the 49th month.

This allows you to settle the finance agreement without penalty. We can supply you in advance a schedule of payments that will show you the following information 

• Monthly opening balance
• Repayment
• Interest calculated that month
• Monthly closing balance

In the event of early termination, it is the Monthly Closing Balance you pay.

You will receive throughout the duration of your agreement a statement advising you of the monthly closing balance.

Balloon – explained

Lease Purchase with a Balloon

A Balloon final payment is a % of the initial sales price of the vehicle, and is deferred until the end of an agreement.

Typically a Balloon payment can be as high a 50% depending on the age of the vehicle.

We typically will quote for a 48 month agreement with a balloon payable on the 49th month.

The Balloon final payment on a 36 month agreement can be as high as 55%, and on a 24 month agreement 75%.

90% of all finance agreements we arrange are over 48 x months with a final balloon payment on 49th month, these are on a Balanced Payments Plan, which means the agreement can be settled without penalty.

The longer the term of agreement, typically reduces the amount paid on a monthly basis.

Rates explained 

When you talk with us we will explain what our rates means in terms of Flat rate and APR rate.

We have heard so often from our customers that they have been offered a rate of 4% This is assumed so often to be the rate that is paid.

This is so wrong, in terms of perception, the rate you actually pay is the APR rate, this is calculated typically over the current UK base rate.

If an APR rate is 6.75% for example, this means this is 2% over base rate.

If a rate is quoted of say 4% and APR is not mentioned, then typically you have been quoted the flat rate, which normally means that the APR rate is much higher.

When we speak with our customers and they have been offered another quotation from one of our competitors, our first question is what APR rate have you been quoted.

To our amazement – many people haven’t asked the question, which means you could be paying much more on a monthly basis than you should be.

With Saffron Asset Finance we only talk APR (Actual Percentage rate) as this is the amount you actually pay.

Finance Calculator

If you go to the “get a quote section” from our website, you will need to complete the requested information.

Please submit this application to us and you will instantly receive a password, this allows you to input an amount you want to borrow and will give you a monthly repayment.

This calculator is only able to work out repayments on Hire Purchase (NOT LEASE PURCHASE )

If you require a finance quote for Lease Purchase with a Balloon final payment, please email us or phone us on  01753 892961 and we can instantly quote you.

Back