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Business Contract Hire and Leasing Guide

Contract Hire has become the most popular method of acquiring vehicles for small and large businesses alike. Contract Hire provides an all-inclusive package that encompasses all the costs associated with running a vehicle covered under a fixed monthly rental. Contract Hire is available on any vehicle make or model and not only provides maximum protection from risk for companies who use it, but is also highly flexible to suit exact requirements.

What are the benefits of Contract Hire?

  • Lower monthly rentals as the finance company reclaims VAT on the vehicle purchase - benefiting your cash flow.
  • You can reclaim 50%* of the VAT on the monthly rentals.
  • The rentals are allowable against tax** reducing your tax liability
  • Monthly rentals are fixed, making budgeting easier.
  • You have no responsibility for the disposal of the vehicle.
  • You can have the option of a maintenance program for your vehicle, avoiding any unexpected large bills.
  • 100% of the VAT is reclaimable on the optional vehicle maintenance program, which is allowed in full against tax.
  • You are not exposed to the depreciation risk against tax on your vehicle.
  • Contract hire is an on-balance sheet facility.
  • Your initial capital outlay is reduced allowing your funds to be retained in the business.
  • How Business Car Leasing Works

  • From the start of a contract the customer pays a fixed initial rental which can be based on either 3, 6 or 9 monthly payments.
  • The vehicle will be delivered free of charge to any UK mainland destination the customer requires. Delivery mileage may apply!
  • Then from month 2 the customer/company make a monthly payment for the duration of the contract term i.e.: Either 2, 3 or 4 years.
  • At the end of the contract the vehicle will be collected from any UK mainland destination free of charge unless you have decided to purchase the vehicle from the funder, however most customers prefer to lease another new vehicle.