How Contract Hire Works

This option allows you to lease your vehicle for a fixed period and for a fixed monthly rental this also includes the cost of your Road Fund License.

At the start of your agreement you pay an advance rental upfront. Your monthly rentals are based on the difference between the initial value of the vehicle and its projected residual value at the end of your agreement. Therefore, only a proportion of the vehicle's value is repaid, which avoids a large initial expense and keeps monthly payments lower.

You can also include the cost of the vehicles maintenance into your monthly rentals, choosing from one of our three maintenance options: Service Only, Full Maintenance or Full Maintenance with Tyres. This means the cost are fixed over the terms of your agreements, allowing you to budget easier and reducing any unexpected costs. If you prefer you could choose for a no maintenance option instead.

Contract Hire features:

• No need for a large initial deposit
• Pay an advance rental upfront
• Fixed regular monthly rentals (that include VAT) means you can easily budget
• Rentals are based on your annual mileage agreed at the start of your agreement
• Repair and Maintenance options are also available
• Rentals are allowable against taxable profits (proportionally)
• VAT is reclaimable depending on usage (proportionally)
• We will also administer any speeding and parking fines when necessary

At the end of your agreement:

We’ll arrange the collection of your vehicle at the end of your agreement. You simply hand back your vehicle subject to it being in line with our Vehicle Return Standards as vehicle condition, excess mileage and other charges may be payable.

View our Vehicles Return Standards.

Click here to find out more about our Contract Hire offer.