Instead of owning a vehicle, Contract Hire provides all the benefits of leasing a high quality car without any of the problems associated with ownership. Leasing it for a fixed period on a fixed monthly rate.
How Contract Hire works.
This finance option is straightforward – you simply agree to hire your chosen vehicle for a fixed monthly rental, over a fixed term. Once the agreement comes to an end, so does your financial obligation.
With this kind of agreement, you can choose from our ‘No Maintenance’, ‘Service Only’, ‘Full Maintenance’ or ‘Full Maintenance with Tyres’ options. This means the costs are fixed over the term of the agreement allowing you to budget easier and reducing any unexpected costs.
Benefits of a personal Contract Hire include:
• Flexible deposit and repayment period
• Fixed interest rate and payments throughout the life of the agreement
• No mileage conditions.
*Benefits for a business users include:*
• Manage budgets more conveniently with one fixed rental every month
• Capital expenditure is eliminated
• Your business gains an additional line of credit
• Rentals are allowable against taxable profits (proportionally)
• VAT is reclaimable depending on usage (proportionally)
• Road fund licence costs are included in the rental fee
• We will send you tax discs and MOT reminders as and when required and manage speeding and parking fines. And administration fee of £25 will charged for this service.
At the end of your agreement:
Just return the vehicle to us with nothing more to pay, subject to return conditions being met and the agreed contract mileage not being exceeded. Please visit the Vehicle Return Standards page for further information.