- Facilities to fund a single vehicle or fleets of vehicles for business customers;
- Off balance sheet funding as the vehicles are owned by the finance company;
- Fixed monthly cost for the life of the agreement;
- Terms can be tailored to meet specific requirements regarding mileage and funding period;
- Can include all the maintenance costs or just the finance element;
- Road fund licence costs are included;
- VAT is paid on the rentals and these can be recovered in full for a commercial vehicle and 50% for a car.
- Assists cashflow and budgeting by spreading the cost of vehicle ownership over the useful life of the vehicle;
- A minimal deposit is paid – typically only 3 rentals;
- A customer can benefit from the purchase power of the finance company with vehicles significantly discounted along with associated maintenance costs;
- Rentals are offset against taxable profits which could reduce your tax liability;
- No potential to lose money on disposal at the end of the contract as this is at the finance company’s risk;
- Fleet management capability assists companies when running fleets of vehicles.
Contact us to learn how contract hire arrangements can help your business.