Contract hire is a fixed period vehicle hire agreement, typically arranged for new cars however nearly new cars may be considered. At the end of the agreed period the car is simply returned to the hire company (subject to mileage and condition). This product is for business users or business principals only.
The benefits of this product are:
- Fixed cost motoring – all you need to provide is fuel and insurance.
- You can include full maintenance in the rental
- No disposal or depreciation issues
- Normally one or three months initial rentals instead of a large lump sum deposit
- Business users can normally reclaim 50% of the VAT back on the rentals
- Off balance sheet funding with 100% of the lease rental available to offset against taxable profit
Please contact us to discuss your requirements in more detail.