Welcome to VFL Finance

Welcome to VFL Finance

Business or private – With VFL's competitive rates and excellent personal service you can lease your next vehicle with confidence.

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Frequently Asked Questions

Where is VFL based?
VFL is based at Level 1/220 Antigua Street, Christchurch CBD. Locally you can reach us by phone 03 379-8530
What if I don’t live in Christchurch?
VFL has clients throughout New Zealand and a network of service providers to match. Our ever expanding network of clients and suppliers enable us to provide fast and professional service the length of the country.
Why Lease?
Leasing allows your vehicles to present the image you desire for your company without the initial capital outlay. It creates a stable expense environment in relation to the operation of your vehicles due to the consistent monthly payment. This assists in enabling better budgeting. Because there is no initial capital outlay, these funds are retained within your business, therefore enabling them to be used for more productive purposes. Lease payments can often provide a substantially more tax friendly environment too, talk to your accountant for more information on how this may assist your business.
Are there different types of lease?
Yes. When considering leasing VFL have a range of different types of lease to suit a variety of specific needs and requirements.
What is an Operating Lease?
An Operating Lease provides you with the vehicle that matches your specific requirements through a fixed low monthly payment over a contracted term. There is no large initial capital outlay and at the end of the lease term, you hand the vehicle back and the lease company takes all the residual value risk. Operating leases can be provided both fully maintained and non-maintained. An Operating Lease can also be put in place for most commercial assets, machinery and plant.
What is a Finance Lease?
A Finance Lease offers much the same benefits and features as an operating lease. How ever, at the end of the lease period you can purchase the vehicle for the guaranteed residual value, as set out in the contract. A Finance Lease can also be put in place for most commercial assets, machinery and plant.
What is the difference between fully maintained, partially maintained and non-maintained?
Non-Maintained Lease: All maintenance, servicing, tyres, repairs and operating costs are the responsibility of the Lessee/Client.*
Partially Maintained Lease: The costs of operating the vehicle are shared through a predetermined formula as agreed by the Lessee and Lessor. The Lessee may choose to pay the licensing and warrant of fitness costs, while the Lessor pays the servicing, tyres and mechanically related costs.*
Fully Maintained Lease: All costs associated with the maintenance, servicing, tyres and licensing of the vehicle are included as a component of the lease. The day to running of the vehicle, being fuel, insurance and fuel related taxes such as Road User Charges remain the responsibility of the Lessee.
What are the shortest and longest vehicle lease terms?
A lease may be as short as 3 months with a monthly right of renewal thereafter or a maximum of upto 75% of the asset’s economic life from the commencement date of the lease as defined by the Inland Revenue Department. Vehicles deemed to be passenger vehicles have a maximum lease period of 45 months. Most commercial vehicles have a lease period of upto 60 months.
What if I find I am doing more kilometres than I originally asked for in my lease?
Let us know as soon as you become aware of using more than the allocated kilometre usage. We will re-rate your usage. This way we can adjust your monthly payment and you can avoid a penalty account at the end of the lease.
Can I extend my original lease term?
Yes, just contact us and we will arrange an extension to suit.
How is Fringe Benefit Tax (FBT) assessed on a leased vehicle?
Fringe Benefit Tax (FBT) is factored of the vehicle’s market value at the inception of the lease.
What is a Consumer Credit Contract?
A Credit Contract is what used to be referred to as “Hire Purchase”. It offers you all the benefits of full ownership and clear title is passed to you on the vehicle once you have completed the payments as set out in the contract over a predetermined term. This type of purchasing may be available from as little as no deposit to approved purchasers.
What is a Personal Loan?
A Personal Loan is an advance of funds to yourself utilising goods that you already own as a security for the loan. You retain possession of the goods and once the loan is repaid in full through consistent monthly payments. The security on the goods is released once all your monthly repayments have been made.
Can I find my own vehicle elsewhere and still lease it or get a loan to purchase it?
Yes you can, please talk to us for more information on how to do this
How do I go about getting a vehicle on lease?
Contact through any one of our many available forums. We will discuss your requirements with you and together we will attempt to achieve the best result for you and your business.
How do I go about getting finance for a purchase?
Contact through any one of our many available forums. We will discuss your requirements with you and together we will attempt to achieve the best result for you.
Can I trade my existing vehicle in as a deposit when entering into a finance agreement?
Yes, in most situations, you can trade in your existing vehicle/s as a deposit or advance payment on your new contract.
Does VFL offer a “Buy and Lease Back Facility”?
Yes, VFL can offer a “Buy and Lease Back Facility”. This often frees up vital capital that is more beneficially utilised through more productive channels within your business and assist in reducing FBT.
If I have finance on a vehicle, can I get a top up on the loan?
If your vehicle or asset is currently subject to a VFL finance agreement, you may very simply be able to get a top up on the existing loan if necessary.
What do I need to have with me when applying for finance?
The general rule of thumb when applying for finance is to bring your Driver’s Licence, proof of income and any other documents you may think will assist in assessing your application. It is always wise to bring a credit reference or other account payment history if you have it available.
What if my circumstances change throughout the lease and I want to cancel?
A lease is generally for a contracted term. Early termination may incur an “early settlement fee”. This is generally calculated as a percentage of the balance of payments due at the time of settlement and the usage the vehicle has been subject to so far.
Do I have to lease a new vehicle or can it be used?
VFL proudly provides the “Economy Lease”. The Economy Lease is designed to provide a more affordable method of leasing than that which is generally provided. This enables you to have a late model vehicle, thus still presenting a good company image, whilst not paying the generally expected premium for driving such a vehicle. The Economy Lease is also a great tool for short term leasing options. As an added bonus, Economy Leases are generally supplied on a fully maintained basis.
Where does VFL source their vehicles?
VFL’s supply of vehicles is great. As well as using our own stockpile of quality vehicles, VFL has relationships with most major manufacturers franchise dealerships in New Zealand and a substantial network of wholesale suppliers. A great majority of these vehicles are sourced through industry only tenders and auctions. Whilst VFL primarily provides New Zealand new vehicles we can also provide some late model imported vehicles if so desired. This has proven to be very effective and financially favourable to the client particularly with vans and the likes.
What will it cost me if the vehicle is worth less than the residual value set by the lease company?
In the case of an operating lease, unlike some other lease companies, VFL does not hold the Lessee liable for any shortfall in residual value of the vehicle what so ever. The liability for a shortfall in value due to market depreciation, lies solely with the lease company.