If you or your business normally buys its cars with cash, a bank loan, or through a traditional Hire Purchase scheme, then you may find Business Contract Hire a far more cost-effective option.
Not only does Contract Hire allow you to run a new vehicle for an inclusive monthly rental, but it also releases valuable capital from your current vehicle or your next potential purchase. Contract Hire means you can afford an even better vehicle than you initially thought.
Contract Hire can offer a package to include routine servicing and maintenance costs for a small increase in the monthly rentals. All scheduled maintenance work will be carried out by the main dealer network and at a local dealer of your choice. Maintenance packages include replacement tyres (excluding punctures), batteries, exhausts and all parts that are subject to fair wear and tear**.
At the end of your agreement we will arrange to collect your vehicle free of charge from your office address. Not only does this avoiding time-consuming disposal issues and any worries over depreciation of the vehicle* but allows you to make the best use of your valuable time. Annual Road Fund Licence is included in the monthly rental for the duration of the contract.
Key Benefits** of Business & Personal Contract Hire
- A low initial outlay from just 1 month's payment
- Flexible terms from 24 to 48 months
- Road Fund Licence included in the monthly rental
- A choice of rental period
- No depreciation risks
- Optional monthly maintenance packages**
- The ability to forward plan
- The lowest fixed monthly rentals
- A simple 'hand back' process at contract maturity**
- Removes time consuming disposal issues*
- Makes more capital available to you
- Complete peace of mind
- Personal Contract Hire offers corporate pricing for private individuals
- Business Contract Hire offers the ability to show the vehicle off your balance sheet
- Business Contract Hire allows a proportion of the rentals allowable against tax***
- Business Contract Hire offers allows VAT to be reclaimable on the rentals***
* Excess mileage and vehicle damage charges other than fair wear and tear may be payable.
** Subject to terms and conditions of the agreement.
*** VAT registered businesses*, VAT is reclaimable on the rentals, based on 50% of the VAT on the capital element (assuming an element of private use) and 100% of the VAT for any maintenance charges.