Cash, loan, HP, finance lease, contract hire or PCP – which really costs least?
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When you need a van, car, machine or new IT kit, the salesperson usually quotes a monthly figure – but the cheapest monthly payment is rarely the cheapest deal. This workbook compares every common way of paying for an asset on the same basis: what it costs you in total, when the money goes out, how much tax relief you get and when it arrives, what you get back at the end – all brought back to today's money so the options can be compared fairly.
See how it works
The sheets you will use most, in the order you will use them – shown with the sample data every workbook comes with.
Step 1
The asset, your tax position and every finance quote, plus the figures worked out from them. What you do: fill in the yellow cells.
Step 2
Every option side by side: cash timing, total cost, net present cost, effective interest rate, rank and notes. What you do: nothing to enter.
Step 3
Year-by-year cash flows for each option, before and after tax, with the capital allowance computations. What you do: nothing to enter – use it to check the workings.
Step 4
Net present cost of each option at five interest rates, five end values and five discount rates. What you do: optionally change the three step sizes.
Who it is for
Quick start
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Part of AML Finance Group
Our sister firm, AML Accountancy Solutions, is an award-winning accountancy practice helping businesses and individuals across the UK with their accounts, tax, bookkeeping and payroll.
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