Contract Hire

Contract Hire- The Basics

what is contract hire and how does it work?

Note- the more you pay upfront, the lower your monthly payment will be

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Under a contract hire agreement, you agree to lease the vehicle for a fixed period (usually 24-48 months) and agreed maximum mileage (e.g. 10 or 20k per annum). You make one initial rental payment (typically 3-6 months rental) and then make a fixed monthly payment for the duration of the contract. Road tax is included for the term of the lease, but you will need to maintain (service) the vehicle to manufacturer's guidelines and insure it. The car never belongs to you, and at the end of the contract you return it to us.
why should I choose a contract hire agreement?

Remember- with a contract hire agreement, you pay for use of the vehicle- if you want to own it at the end of the agreement, contract hire may not be the right product for you.

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No depreciation to worry about
No disposal hassle
You may be able to afford a newer or higher specification car than you thought
Maintenance cover can often be added to help you fix your motoring costs
sounds great- how do I apply?

Even if you've been declined before or have a weak credit score, there's a good chance we can help, so drop us a line.

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If you're a private individual aged over 18 and permanently resident in the UK, you can apply for a personal lease, also known as personal contract hire. We will need some basic information, including a completed proposal form, proof of your ID (e.g. a driving licence or passport) and address (e.g. a council tax or utility bill) and some recent bank statements (we can usually accept good quality copies of these documents) and we will run a check with one of the credit reference agencies. Our underwriting team will then assess your application and, all being well, confirm that we are happy to fund you.
Don't worry if you have bad credit- we specialise in helping people even if they have been previously declined.
business contract hire- what are the benefits?

Even if your business is a new start-up, there's a good chance we can help, so drop us a line.

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Contract hire was originally designed with business in mind, and there are several great advantages:

Business users can reclaim much of the VAT.

Rental charges can be set off against taxable profits

Frees capital for investment in other parts of your business. Moreover, leases do not appear on your balance sheet, so contract hire could improve your RoA, liquidity ratio and gearing.

what vehicles are available?

We can supply new vehicles, but we specialise in nearly new cars and vans- for a great saving, ask about our nearly new offers

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Almost any car or light commercial!
Whether you need a new van for your business, a reliable hatchback for the school run, a sporty little number, or something to eat up the miles on the motorway, we can source the right vehicle for you.
We can supply both new and nearly new vehicles.
any other questions?

Got a question we've not answered yet?

Please let us know and we will add it to our list!

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If you can't find the answer you're looking for
take a look at our contract hire FAQ
get in touch and we'll be happy to help