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Is maintenance included in my lease payments?
With an operating lease, you can choose to include service costs and tyres, or you can have a non-maintained lease where you pay these costs yourself.
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If I have the money, why is making a regular monthly payment more attractive than paying cash to buy a car?
Because with leasing, all your costs, including depreciation, are known. You can also avoid having cash tied up in a depreciating asset and put it to productive use.
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How is the lease rate calculated?
The lease rate is based on the discounted purchase price of the vehicle, the anticipated resale value (residual value) of the vehicle and the term of the lease. The anticipated kilometre usage is agreed on to determine the residual value. Most leases are for a 36 month term but other terms are available.
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How long are the boat and leisure loan terms?
Our terms are flexible, ranging from six months to 5 years.
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Can I change my repayment amounts during the loan term?
Yes. Give the AA Finance team a call on 0800 500 555, and we'll see what we can do to change your loan to suit your circumstances (there may be a fee to restructure your loan).
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Is invoice finance just for big businesses?
No, it’s for businesses of all sizes – small, medium and large.
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What does invoice finance cost?
There are two costs involved in invoice finance - an administration charge and interest on the money drawn.
Administration charge
The administration charge is our fee for keeping your ledger balanced with our ledger. This can be a percentage of the invoices we process, a flat monthly amount or a combination of both. We calculate the fee based on our experience of the work involved in keeping a ledger balanced, and by using information you give us. We are happy to give you a quote for the administration fee for your business.Interest
The interest is calculated daily based on the funds in use, the same as a bank overdraft.
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Is any security needed?
The security for invoice finance is the business itself. AA Finance doesn't require any other security such as property, vehicles or business equipment. This is a major advantage over a bank overdraft.
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How long are the plant, equipment and business loan terms?
Our terms are flexible, ranging from 12 months to five years.
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Can the business pay the loan off before the end of the term?
Yes, we can structure your loan so you can make lump sum repayments during the term without penalty. However if you pay off your loan in full before the end of the term, there is an early settlement fee.