Resources for a New Yodel Driver

As a New Yodel Driver, there are a range of finance packages available to you to provide ultimate flexibility. With our 20+ years of leasing knowledge, we can create a personally tailored leasing deal to suit your needs. Read through the options below to learn which lease type works best for you. So you can get on the road and start earning!

We find most people fit into one of these categories:

Whether you lease through us or elsewhere—the finance options you’ll “need-to-know” are:

Lease to buy

A ‘win win’ for owner drivers wanting to benefit from the tax advantages of a low-cost lease whilst being able to take ownership at the end. One great benefit of a Finance Lease is there are no damage or excess mileage charges at the end of your lease, giving maximum flexibility.

All payments are 100% tax deductible and VAT is spread across all payments. Low deposits, can be arranged – or you can reduce your monthly cost by paying in more upfront. A Finance Lease can be taken with or without a final payment, the final payment being based on the anticipated resale of the van. So, you can make the lease work for you!

The VAT element is paid monthly and reclaimed quarterly: all the payments are reclaimable against tax (providing you are VAT registered). The lease will appear on your balance sheet. When the van is sold at the end of the lease agreement you retain 97.5% of the sale value. Which is a great bonus!

Contract hire

Good for businesses wanting cost certainty and no resale hassle. Put simply, this is a long-term rental providing low-cost rentals. Payments are based on a pre-agreed contract mileage and the vehicle is simply returned at the end. Road fund licence is included but maintenance, tyres, roadside assistance and relief vehicle are options that can be added and charged alongside the monthly rental.

At the end of the contract the van is collected by the contract hire company and any damage repairs made will be recharged along with any excess mileage charges.

The VAT element is paid monthly and reclaimed quarterly: all of the payments are reclaimable against tax (providing you are VAT registered). The lease does not appear on your balance sheet.

This is a great option if you are looking for a cost-efficient lease without the hassle of vehicle disposal.

Hire purchase

This financing option allows you to pay a fixed monthly cost towards your vehicle which will be fully owned at the end of your lease term.

Hire purchase is only suitable for owner drivers that are VAT registered, this option offers traditional loan finance. A typical deposit of 10% of the cost of the vehicle plus the entire VAT cost for the vehicle is paid upfront. The VAT can be claimed back in the next VAT quarter.

As a purchase agreement, the agreement will appear on the balance sheet and normal writing down allowances apply. You will own the vehicle once the last payment and option purchase fee is paid.

Take a look at a few of our other resources for Yodel Drivers.

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