An agility arrangement allows businesses to gain eventual ownership of their chosen smart vehicle. Agility is a great option for any business users who have been given a budget to purchase a smart vehicle privately (replacing a company car). The arrangement consists of a series of monthly repayments, culminating in a "balloon" payment at the end of the agreement. At this stage, the organisation can choose to own the car outright, or can return the vehicle if it so chooses.
How Agility Agreements work
To begin an Agility agreement your business will initially pay a deposit on the vehicle and decide the term of your agreement. This is followed by a series of fixed monthly payments which last for an agreed period of time - often between two and five years. Your dedicated Business Manager will then advise you of the Guaranteed Future Value of your new or used smart car which is worked out by the deposit and the monthly payments being subtracted from the vehicle's total cost, and at the end of the term you can make the final payment (based on the anticipated future value of your smart) and take ownership of the car, or return it to us.
At the start of your agreement the annual mileage is used to estimate the value of the vehicle when the agreement ends. If you do exceed this mileage allowance (which you will be able to find in your finance agreement), it may accelerate the vehicles depreciation and there will be an excess mileage charge to pay, which will be worked out on a pence-per-mile basis.
Advantages of Agility
What to do at the end of your Agility agreement
To find out more contact us today or speak to an advisor on our live chat link above.