Contract Hire is the most common form of business vehicle leasing, allowing companies to lease brand new vehicles for a fixed monthly payment to suit their needs.
The finance agreement is typically fixed for periods of two, three or four years with the option to include maintenance. We handle the administration of the vehicle throughout the contract, leaving you to focus on running your business.
The monthly rental payments are agreed at the start of the contract and are calculated based on the cost of the vehicle, the contract period, the anticipated residual value of the vehicle, mileage allowance and any additional services, such as vehicle maintenance.
The funder owns the vehicle, which means the risk of depreciation and the hassle of disposing of the vehicle at the end of the contract is their responsibility.
Further benefits of contract hire for businesses includes fixed costs for easier budgeting, flexible contract terms to suit your needs and the reduced risk of removing a depreciating asset from your balance sheet.
If you are a VAT registered company you can also claim back 100% of the VAT if the vehicle is used exclusively for business or 50% on the finance element of the rentals if the vehicle is used privately.
FleetEurope can provide administrative support for the vehicle throughout the contract hire agreement, including servicing, maintenance, accident management and breakdown cover.
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Through our competitive tendering service we work in partnership with many of the UK’s leading finance providers to ensure you always receive the most competitive rates available for your company vehicles.
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