Showcasing the Best of Welsh Business

Commercial Vehicle Expert David Spear Compares the Market to Reveal the Difference Between Lease and Hire Products


With a wide range of lease and hire options now more accessible than ever to those looking to purchase their first commercial vehicle or expand their corporate fleet, cutting through the jargon to ensure you get the right finance product for you is vital. There are several routes you can explore as a commercial vehicle buyer, and here David Spear Commercial Vehicles reveals just what you can get for your money courtesy of the flexible services their company offers and the other products currently available on the market.

“Here at David Spear Commercial Vehicles, we offer two primary methods of lease and hire, the lease purchase, with balloon payment at the end, and hire purchase, which involves larger monthly payments but with no balloon payment due at the end of your contract period. With each, the main benefit is that you, the customer, own the vehicle at the end, but other lease and hire products on the market aren’t that simple or advantageous,” said Owner David Spear.

lm2_4294Contract hire may be one of the vehicle finance options that you are most familiar with and whilst, as David explained, its benefits include a low initial outlay, 100% reclaimable VAT on light commercial vehicles (LCVs) and reduced administration, the simple fact is that the hirer does not own the vehicle. In addition to this for non VAT-registered businesses, the VAT reclaim opportunity cannot be realised, and customers classed in this category have full liability. Contract hire is also not suitable for companies with unpredictable mileage and excess mileage charges apply in instances where limits are exceeded.

Finance lease options also carry similar disadvantages with the risks of ownership and potential residual value losses experienced by many customers in today’s market.

“Contract purchase packages are often described as delivering the best of both worlds, but for larger, VAT-registered companies the disadvantages outweigh the advantages. With hire purchase or lease purchase however, the fixed monthly payments and tax offset interest element of repayments ensures paying off a vehicle in full over a 24- to 60-month period can be done with ease by non VAT- and VAT-registered business customers alike,” concluded David.


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Laurence has spent most of his career in the media industry working in senior management roles with major publishers including Thomson Regional Newspapers, United News & Media and The Newsquest Media Group.

In 2001 Laurence left the corporate publishing world and after a 3-year spell in pharmaceuticals he set up on his own. In 2005 he created Swansea Life & Swansea Bay Business Life, two highly successful magazines now fully established in their respective markets, and since acquired by the Trinity Mirror Group.

In 2010 he stepped outside of the publishing bubble and set up a full service media agency specialising in PR, Advertising & Marketing, with a series of offices along the M4 corridor helping to develop regional campaigns for successful brands such as Las Iguanas, Andrew Scott and a wide portfolio of well-known law firms.

Outside of the media, Laurence travels extensively as a keynote speaker, talking about his experiences as a service and people expert. His ability to inspire audiences has resulted in him working with a number of international brands, including P&G, Kellogg’s, Dunelm and Armstrong. He has also penned a book entitled ‘Live Your Life’, which has become an essential guide to personal and business success for many.

In his spare time, he relaxes with his family, is an avid Chelsea fan, works out at the gym and enjoys walks on the Gower beaches with his beautiful Labrador Frankie (named after Frank Lampard of course!).

Laurence in a tweet: A driven people person, with a passion for words and an ‘anything is possible’ mentality who thrives on new challenges and creativity.

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