Car Leasing Information
Business Contract Hire
Contract hire for business cars means that you lease brand new cars or vans for a fixed monthly fee, agreed at the start of the contract. At the end of the contract (usually 2 or 3 years), we collect the vehicle. You may then lease another new vehicle – this means that you are always driving a new car or van. The benefits of leasing your company cars through contract hire include the ability to stick to a fixed monthly budget, in addition to tax and VAT advantages.
Personal Contract Hire
Contract hire for personal use is similar to business contract hire, and is specifically designed for the private user. If you lease a new car through personal contract hire, you pay a fixed monthly fee for the life of the contract – and at the end we collect the car – allowing you to begin a new lease contract on another new car. Leasing cars through personal contract hire allows you to benefit from fixed monthly budgeting.
Business Contract Purchase
The difference between business contract purchase and contract hire is that you retain the option to keep the vehicle at the end of the agreement. This is a more flexible lease method – you can return the vehicle to us, or extend the contract, or keep the vehicle, and you don’t have to decide until the contract is over.
Personal Contract Purchase
Contract purchase for personal cars works like business contract purchase; the contract is designed specifically for the private user, and your options as to keeping or returning the vehicle are open until the end of the contract.
Finance Lease
Finance lease works like a contract hire arrangement, but there is usually no option for a maintenance agreement. At the end of a finance lease contract, the lessee becomes the owner, usually upon payment of a final rental. In addition, there are the usual tax and VAT advantages.
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