topcat:
Routier, my finance is with Volvo its self, the trailer is with Park asset finance. With all the bits done, GAP,driveline + warranty,admin + docs and including vat is £31,343 less £5,530 depoist is £25,813 over 36 months.Perhap’s i could get a better deal,but there comes a time when you’ve got stop ringing around, and make a decision. Any imformation you have, on good finance companies or any valuable info, this is the place to let people know. We went down the road of personel loans, but our accountant advice was use finance companies for vat and tax reasons.
Does anyone know of Morrison Freight based in Ipswich? Good or bad ?
Aseet 91, ask for Ken Cook, 01603 812 612, I found them good, honest and gave me some good deals. Keep away from Cattles Commercial Vehicle Finance, RIP OFFS!
I understand what your accountant is saying as you can claim the cost back but you can also claim the cost back thru personal loan as u have used the money for your business.
Im hoping you didnt take add the VAT onto the loan !!! you get this back!!
As you will be paying the interest on it. You should claim the VAT back on your next return and if you have timed it right in your VAT quarter then you wont have to wait too long. As rule of thumb any big purchases that I made was always in the last month of my VAT quarter , that way I didnt have to wait too long to get the money back to pay off the outlay!
Your Driveline, which I assume is in addition to the 3 months that Volvo provide and should only commence after Volvos 3 months has expired should not have cost you any more than £500 MAX!!! Is it Driveline + ■■?, not just engine , axle,gearbox ■■
I paid Keltruck £900 for the year which included everything on my scania. I did it when I found out the Steering Box on the Scania was knackered and was quoted £1500 + Vat + Labour to fit a new one!! So I took out the warranty which covered it and saved well over £600!! It doesnt cover wear and tear ( clutch /brakes/tyres) but does cover everything else. Well worth it.
GAP insurance, Yes worth having but again shouldnt have cost that much.
I think you have a great truck (Volvos in my book are second to none, well better than Scania) Are you sure you have your figures correct because if thats a straight deal including the VAT the you have only been charged £2900 in interest which is good !!!
Have you gone 3+3 ? 3 months deposit by 3 months up front ? You will have to pay 5% of the value of truck at the end ?
If not I think, yep you have done good, your truck +driveline, total cost and reapyments is not that far out from the lenders
£25000 over 36 months: 5.7% APR £755.43 MONTHLY PAYMENT
INTEREST £2,195 TOTAL REPAYMENT =£27,195 with Money Back Loan
How much was your trailer ?
Morrision Freight, not heard bad about them, was going to go on for them before deciding to call it a day! Still get emails offering me work, do alot to Germany! Rates werent bad (at the time)and they have been around long enuff, am sure they r OK.
They do backloads from Germany ( one way) but this is where all Companies make their money as rates arent bad, just bad going out!! So you would be better off doing round trips!
If you are looking for Euro Work and as you have your own trailer, may I suggest that you try Teleroute to get your loads out of UK? Loads coming bak for a Euroliner are plentiful so dont be tied to a company who says I can get you a back load as well cos hes making a few quid out of you. You will get more doin it yourself. If you can get near Lux You can fill up thois 1000 litre tanks for approx £520!!! almost half to what its here!
Im excited for you!!!
