An outright purchase means that the legal title of the car or van will pass immediately to your company and no interest charge will be incurred. This will however also mean that the risk of depreciation on the vehicle then lays in the hands of your company.
The VAT for an outright business vehicle purchase can only be recovered if the car is used wholly and exclusively for business purposes for example if the car will be a pool car which is kept at the premise. The business may also claim tax relief based on the car’s CO2 emissions.
If an outright purchase seems like the right business purchasing option for you then contact your nearest Vantage centre and ask to speak to the Business Centre Manager. You can use our meet the team function to get to know the Manager in your area. Alternatively you can submit an enquiry form online and the your local Business Centre Manager will get back to you shortly.