Contract Hire

A simple, practical way to fund your specialist fleet Outright purchase

Contract Hire offers a straightforward way to fund your HGV, plant or specialist vehicles. It’s an easy to manage solution that doesn’t tie up your capital and can be tailored to meet your business needs.

 

HOW IT WORKS

Select the right vehicles for your business based on your budget, a lease period that suits your needs, and agree an annual mileage limit.*

We then lease the vehicles to you for a set monthly fee, with a fixed payment up front. You can also take out a maintenance package with us as part of your lease.

You can claim back 100% of the VAT on monthly lease payments and any maintenance option, provided your company is VAT registered.

Once the hire period has ended, simply hand the vehicles back to us.

 

THE BENEFITS

  • Easy budgeting with fixed monthly payments
  • Avoid tying up your capital in your fleet – contract hire vehicles are currently off balance sheet
  • Low initial outlay – typically equal to six months’ rental payments
  • No need to worry about depreciation – we take on the risk
  • Potential to save time and money on administration with our full servicing and maintenance options
  • 100% of VAT reclaimable on lease payments and maintenance options

 

* If you think you might go over the agreed mileage limit, talk to us – we may be able to adjust your monthly payments to avoid end of contract charges.

 

Is Contract Hire right for your business?

Decide whether contract hire is right for your business:

Choose the funding method that’s right for your business:

It may suit you if you are VAT registered, allowing you to make the most of the tax advantages, and if your drivers do regular, predictable mileage.

 

Take a look at our funding overview page for other options that may suit your business better or speak to one of our experienced fleet consultants on 01225 777 710.

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