Spread the cost up to 5 years
Personal Contract Hire
Personal Contract Hire is a type of lease where fixed monthly payments are made for a number of months or years up to 5 years, along with a deposit.
When the contract comes to the end you simply return the car, as you are not the registered keeper of the vehicle.
The Mileage allowance will be agreed prior to commence of the contract.
There are many benefits to leasing a vehicle, one of which is the worry of depreciation and reselling of the vehicle as many are aware a brand new car can lose a substantial amount of value once driven, therefore leasing a vehicle can be the answer not to having the hassle of reselling the vehicle.
Fleet for businesses
Business Contract Hire
Business Contract Hire is where a business pays a set monthly payment over an agreed time period from 12 months to 5 years. This can range from 1 vehicle to a large fleet for a business.
The contract hire company will make calculations based on the initial value of the vehicle and future value factoring in the mileage allowance over the term of the agreement and this would become the monthly payments.
Once the contract ends there are a number of options for business individual or fleet manager can do either return the vehicle with no further charge subject to agreed mileage and wear and tear guidelines or the vehicle can be changed along with the value of the monthly payments to meet the business needs.
The Benefits of Business Contract Hire for businesses with either 1 vehicle or 30 vehicles there is no worry around the depreciation of the vehicle along with not having to resell. Along with this businesses whereby the vehicle is used for commercial use only can claim back 100% VAT and businesses whereby the vehicle is also used privately can claim back 50% of the VAT.