A fixed term contract (usually) for the hire of an asset on a set rental.
Fixed period vehicle rental e.g 12 months, 24 months available to include vehicle maintenance etc. Payments include VAT, PLEASE SEE Finance Options Page Contract Hire (Personal) As Above, but for private individuals not VAT registered
This is a finance agreement where the customer pays for the use of the vehicle and simple hands vehicle back at lease end.
Contract Hire is the leasing of a vehicle for a fixed period of time at a fixed monthly rental.
A financing package for VAT registered companies to minimise risks of vehicle utilisation by reducing outlay and maximising the control of costs. Protects companies from the costs of depreciation and disposal for an agreed contract period and level of mileage.
An ‘Off Balance Sheetâ€(tm) funding method where a company hires a vehicle from for a specified period and makes regular payments. The leasing company retains ownership of the vehicle and is responsible for the associated risks. At the end of the contract period the vehicle is returned to the leasing company.
An operating lease with additional services including the sourcing and supply of the asset and provision of optional fixed cost maintenance.
A contract of hire (usually for motor cars) where the asset is hired for a (usually fixed) term of generally two or three years rather than for the life of the asset. Rentals reflect depreciation of the capital cost of the vehicle less an assumed residual value. Maintenance, servicing etc are usually included in the rentals.
A type of operating lease, often for a vehicle, where the leasing company takes an agreed level of responsibility for managing and maintaining the vehicle.
Contract Hire involves the acquisition and disposal of an asset. Both user and owner agree that the vehicle or equipment be returned to the owner at the end of the agreed period of hire usually such that the vehicle or equipment still possesses a reasonable proportion of its useful life when returned. Contract hire is an ideal way of providing vehicles on a fleet basis to firms wishing to replace vehicles on a predetermined future date. Since the Contract Hire Company carries the residual value risk it is important to ensure that equipment will hold its value on disposal.