A Business Contract Hire agreement is a long term arrangement which allows a business to lease a car. The standard time span for one of these contacts is be anywhere between 24 to 60 months. After the contract is finished, the car just needs to be returned to us.
Business Contract Hire agreements are all calculated with a fixed monthly rental cost that is static over an agreed period of time, as well as an annual mileage limit. We try to be as accommodating as possible, which is why we allow you to customise both the agreement duration and mileage.
Business contract hire is a popular long-term vehicle rental agreement suitable for sole traders, partnerships and limited companies
Something that attracts a lot of people to take out a Business Contract Hire agreement is the low initial rental. Compared to how much you could pay for buying a car, the difference is staggering.
When you start a Business Contract Hire agreement, you agree on a predicted level of depreciation. Any depreciation that may occur will not compromise your contract. By not owning the vehicle, you do not have to worry about selling it on after your contract has ended. You can simply return it. Furthermore, in the same day as returning the vehicle, you can create another contract on a new vehicle.
When working within a business, costings related to vehicles can often be a worry. If you choose a Business Contract Hire agreement, it will have fixed costs which includes the actual leasing service, maintenance, servicing and even the road tax.