Funding Methods

Contract Hire
Contract Hire is a popular choice for VAT registered companies that want minimum outlay and maximum control of costs, especially when the maintenance and relief vehicle options are included. With this VAT beneficial financing package, one regular rental payment covers all risks including depreciation and disposal for an agreed period of time and mileage. Road fund licence is included and roadside rescue, maintenance and relief vehicle provisions are options that can be added and charged to the rental payment.

Contract Purchase
For companies who would like the option to purchase their vehicles, but don't want any depreciation risks. The customer acquires the vehicle by paying fixed monthly installments and a final balloon payment. We guarantee the minimum future value of the vehicle will equal the final payment. Therefore simply hand the vehicle back or pay the balloon payment to retain ownership.

Finance Lease
Finance Lease is ideal for companies who want to handle the administration of their vehicles and have the asset shown on their balance sheet. A VAT beneficial finance option where the hirer can choose to pay the entire cost over the agreed lease period, or pay lower monthly rentals with a final balloon payment based on the anticipated resale value of the vehicle. Unlike Contract Purchase the customer assumes the residual value risk.

Hire Purchase
Hire Purchase is ideal for companies that want eventual ownership of the vehicle. A funding agreement where the company acquires ownership once all the payments have been made. Part of the capital cost of the vehicle may be deferred into a 'balloon' payment at the end of the agreement. As with Finance Lease the customer assumes the residual risk.

Lease Purchase
Lease Purchase is ideal for companies that want eventual ownership of the vehicle. A funding agreement where the company acquires ownership once all the payments have been made. Part of the capital cost of the vehicle may be deferred into a 'balloon' payment at the end of the agreement. As with Finance Lease the customer assumes the residual risk.

Personal Contract Hire (PCH)
Personal Contract Hire is a popular choice for individuals that want minimum outlay and maximum control of costs, especially when the maintenance and relief vehicle options are included.

Personal Contract Purchase (PCP)
Personal Contract Hire/Personal Contract Purchase is ideal for private individuals who wish to opt out of the company car scheme, therefore saving BIK tax. Both PCH and PCP ensures all the advantages of a company vehicle, no depreciation risk, road tax for duration of contract (PCH only), the option of full maintenance, without paying company car tax.
Covase aim to offer competitive quotations for all types of vehicle financing to suit the exact requirements of its customers. We can provide quotations on all types of vehicles from sports cars, coupes, 4x4's, small cars, estate cars, and executive cars to MPV's, hatchbacks and all makes and models of vans. Cost effective finance solutions on all makes of cars and vans from Ford, Vauxhall, Peugeot, Renault and Volkswagen to BMW, Mercedes, Volvo and Toyota.
Whether you require a Ford on contract hire, a BMW finance lease or a VW personal lease, we will aim to deliver the best quotation with the most suitable funding method. Covase uses technology, experience and its contacts to find you competitive deals and can source some very tempting offers. We insist that our suppliers employ a consultative approach so that the customer gets the package that best suits them, not the supplier. We aim to answer all your car finance questions.
Covase have a host of products available for both companies and individuals, a National service covering Scotland, North West, Yorkshire, West Midlands, East Midlands, East and South East England, South West and London and Wales: