Contract Hire

What Is Contract Hire?

Contract hire, sometimes referred to as vehicle leasing, is a financial arrangement in which the consumer leases a vehicle for fixed monthly payments throughout the term. This option enables you, the user, to hire a vehicle for a specific time frame and amount of miles for a fixed monthly charge. All administrative tasks, as well as vehicle tax, and optional servicing plans, are the responsibility of the leasing firm.

While short-term automotive financing can be obtained, contract rental lengths usually vary from 24 to 60 months. There is no provision for a purchasing option in this contract, as the car is returned to the leasing firm after the expiry of the lease. Some Leasing providers can provide the driver with the choice to buy the vehicle at the expiry of the Lease term for its then market value.

Does Your Business Require A Contract Hire Agreement?

We have a variety of business vehicle financing alternatives , and our knowledgeable team will consult you to make the best choice for your firm. We can assist you whether you are currently acquainted with contract hiring for vehicle and van leasing or are interested in trying it out for the first time.

WANT MORE INFO ON CONTRACT HIRE?

For more assistance with your needs, get in touch with us. Alternately, consider various asset and corporate financing solutions that can be advantageous to your company.

Need help? Call us on +44 (0)1274 214834

What Are Fixed Costs And Other Charges?

Such agreements allow you to plan everything timely. For example, you can set costs to take care of your budget beforehand. Medium and Small organizations can use the contract hire option to use funds intelligently.

Regular Replacement Option

Another great advantage of contract hire is the availability of periodic replacement plans. Contract hire offers more benefits to VAT-registered companies as it allows them to claim back 100% of the VAT paid on maintenance and 50% of the VAT spent on the finance part.

Advanced Contract Hire Services

If you add a vehicle servicing contract to the agreement, you can get rid of the car maintenance responsibility. To ensure the non-stop mobility of your personnel, you can add access to courtesy vehicles in your agreement. The services we discussed here may come at an extra cost.