If you do not want to own your vehicles outright, Contract Hire enables you to ‘hire’ your vehicle over a specified period of time – one, two, three, four or five years. You pay a deposit – usually the equivalent of three monthly rentals – and then your monthly rental is calculated over your preferred period of time.
By far the most popular way for a business to finance their fleet of company cars - over half those registering new business vehicles choose to fund with a business contract hire arrangement. This is due in part to the lower fixed monthly payments that can be arranged. It’s an ideal choice if you don’t wish to own your vehicle; like to change your vehicle frequently; benefit from a low initial expense, and require your business capital for other company investments.
The Benefits of Contract Hire for your business fleet vehicles includes:
Calculate estimated mileage carefully otherwise you could find yourself paying a higher monthly fee than necessary, or by under-estimating you’ll incur additional fees for extra mileage!
Also, there is no buy-out at the end of the contract.
To further discuss this finance option, please call the franchise branch you require and ask to speak to sales or, for business fleets, please call us on 01233 220277.