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| Contract Hire | Personal contract Hire | Finance Lease | |||||||||||||||||||||||
| Contract Hire Overview | PCH Overview | Finance Lease Overview | |||||||||||||||||||||||
| Benefits | Benefits | Benefits | |||||||||||||||||||||||
| Tax implications | Tax implications | Tax implications | |||||||||||||||||||||||
| Contract Hire includes | PCH includes | Finance Lease includes | |||||||||||||||||||||||
| Contract Hire Agreements | PCH Agreements | Finance Lease Agreements | |||||||||||||||||||||||
| Used vehicle contract Hire | Used vehicle PCH | Used vehicle Finance Lease | |||||||||||||||||||||||
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Contract Hire is a very popular method of funding company cars for VAT registered businesses. A Contract Hire agreement has VAT benefits over other funding methods. As well as this contract hire is very appealing as one regular monthly payment covers all the costs of motoring (including maintenance if required) for an agreed period and mileage. The annual Road fund licence is included so the only other things you pay for (if you have a maintenance package) is insurance and fuel. At the end of the contract hire period, you just hand back the vehicle or extend the hire. A Contract Hire quotation can be prepared for any make or model vehicle. A quote can also be presented for commercial vehicles (or vans). Once you have chosen a car, or cars you will need to provide your annual mileage and your preferred contract length. A contract hire agreement is normally three years in length but a contract hire quote can be for 12, 24, 36 or 48 months. Then a contract hire quotation can be presented. If the contract hire rate is acceptable then an order is placed and the vehicle is delivered to you when it is ready. Three monthly rentals are required on or before delivery of the vehicle followed by a number of monthly rentals. |
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Car leasing
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