Contract Hire is a fixed-cost, rental agreement. You choose a new vehicle, agree the maximum annual mileage and length of agreement, and then pay an initial rental followed by fixed monthly rentals to suit your budget. You can even choose to cover vehicle maintenance costs as part of your agreement subject to paying a maintenance charge which is added to your monthly rental.
Choose your vehicle.
Fixed low rentals - to suit your budget and cash flow requirements.
Zero depreciation risk - no disposal worries simply return the vehicle at the end of the contract. Excess charges will apply if the vehicle is returned outside of the condition and mileage terms.
Tax efficient - rentals allowable against tax.
VAT reclaimable - VAT registered businesses can re-claim 50% to 100% of the VAT element on rental and 100% on the maintenance payments.
Road Tax included - renewed annually.
Flexible terms - choice of advance rental, contract period and mileage available.
Maintenance - Optional maintenance package, subject to a charge.
Ownership - you cannot buy the vehicle at the end of the contract.
Maintenance - you must maintain the vehicle in accordance with the contract conditions, even if you have not chosen the optional maintenance package.
Repossession - failure to maintain contractual payments may result in legal action.
Insurance - you must have fully comprehensive insurance.
Termination - you can terminate the contract early by paying 50% of the remaining rental cost.