Business Contract Hire

Business Contract Hire is a cost effective, fixed cost, fixed term rental agreement for Businesses. All contract hire agreements include road fund licence for the duration of the agreement. There is the additional option of being able to add a full maintenance contract, and a relief vehicle.

It is possible to contract hire a vehicle from 24 months up to 60 month, with annual mileage as low as 5000MPA, with a maximum mileage at the end of the contract of no more than 150000 for diesel vehicles.

The Contract Hire Company purchase the vehicle, at the best possible discount we can negotiate from the car manufacturer or dealer, and hires it to the business for a fixed rental. At the end of the contract the vehicle is returned to the contract hire company for disposal. The business has no further involvement, or responsibility provided the car is returned in good condition.

All rentals attract VAT at the prevailing rate, and subject to your current VAT status you may be able to claim 50% of the VAT back for cars, and up to 100% of the VAT back for light commercial vehicles.

A contract Hire agreement can be designed to suit your businesses budget, and your vehicle usage. At the outset we will agree an initial rental as little as 1 rental in advance with alternative initial rentals of 3, 6, 9 or 12 rentals in advance. The larger the initial rental, the lower your monthly ongoing costs. Please note that all initial rentals are collected by the leasing company by direct debit 7-10 days after vehicle delivery.

We will agree an annual mileage at the outset, and subject to leasing company terms and conditions it may be possible to change the annual mileage at certain points during the contract. Our quotes will have an excess mileage stated on them, for example, if the excess mileage is £0.06 and you go over by 1000 miles it will only cost £60.

All vehicles supplied are New (or Pre-Registered), and will come with the balance of manufacturers warranty.

Advantages of Contract Hire

• Fixed cost Motoring
• ‘Off’ Balance Sheet Funding
• Available to all Business types, Sole Trader, Small Partnerships, Large Partnerships, Limited Companies and PLC’s
• Tax relief for your business (please refer to your accountant)
• No worries about disposal at the end of the contract (subject to BVRLA Fair Wear and Tear Guide)

Disadvantages of Contract Hire

• There is no ability for the business to purchase the vehicle
• All rentals attract VAT
• Early Settlement. There is no prescribed formula for early settlement, and each leasing company operate independently
• Potential de-hire charges

Your Details

Title

First Name (required)

Last Name (required)

Your Email (required)

Telephone No.

Vehicle & Contract Details

Make and Model.

Deritive.

Optional Extras

Business Contract HirePersonal Contract Hire

Required Term (required)

Required Mileage Per Annum (required)

Fully MaintainedNone Maintained