A simple and cost effective way to fund any number of vehicles.
Contract Hire is a long term rental agreement. Contracts range from 24 to 60 months and are tailored to the businesses requirements.
The benefits of Contract Hire:
• Up to 100% tax deductible depending on cost of vehicle
• Minimum capital expenditure
• Flexible contracts
• No residual risk
• No disposal issues
• Optional relief vehicle whilst yours is off the road
• Capital not tied up in a depreciating asset
• Off-balance sheet borrowing/accounting
• Fixed cost and optional maintenance
• VAT on rentals reclaimable (reduced to 50% for cars used privately)
• Road fund license included for the full contract length