In the unpredictable world in which we live it is always good practice to minimise uncertainty. That is why Contract Hire has become such a popular way to fund vehicles.
With Contract Hire you need not worry about ownership of the vehicle. Instead you simply pay a monthly installment for the vehicle over an agreed period and with an agreed mileage. Typically vehicle maintenance is also included in the package.
This funding method is off-balance sheet. VAT registered companies can claim 50% of the VAT for the finance portion of the contract if the vehicle will be used for business and personal use, 100% if business only. If you enter into a contract which provides for maintenance services, the service element of the VAT is also recoverable.
At the end of the contract the vehicle is returned to the owner subject to the specified return conditions leaving you free of the hassle associated with the vehicle’s disposal.
Packages can be tailored to suit your individual requirements across our full range of commercial vehicles.