Contract Hire
- for cars and vans is best described as a long term hire of a car and is available only to companies. The monthly rental payment is based on the length of the contract (12, 24, 36 or 48 months) and the annual mileage. You can opt for a contract with or without a maintenance package. Most cars now come with a three year warranty so if you do a low mileage you may not want a maintenance package. If you do a higher annual mileage then a maintenance package gives you peace of mind and you won't have any unexpected bills. The monthly rentals are surprisingly affordable and you can take advantage of the buying power and expertise of the leasing company. They look after your cars and allow you to concentrate on your own business. The VAT on the purchase price of the car is reclaimed by the leasing company and you can reclaim some of the VAT on the monthly rental. The vehicles are'off balance sheet' and most the rentals can be put against tax. Normally three monthly rentals are required at the start of the lease. At the end of the lease you simply return the car and start another lease. Any excess mileage or damage will be chargeable. is available for cars, vans, minibus, in fact most vehicles.
|
