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Commercial contract hire makes great sense for great business.

Contract hire, also commonly referred to as ‘vehicle leasing’, is a long-term rental agreement. It allows businesses to take out hire agreements for set terms, usually between 24 and 60 months with the agreements being tailored to the customer’s business requirements. The business will then pay via fixed monthly installments and when the contract is over, the vehicle is returned to the leasing company.

There are many advantages to leasing company vehicles, rather than purchasing them. Here are our top 3:

1. Easy Cashflow Management
Fixed monthly costs enable accurate monthly budgeting and helps improve your cash flow for the length of the contract.

2. Hassle-free
Contract hire will take away the hassle linked with purchasing a company car or van. The administration will be completed by the leasing company and they will also supply you with on-going advice and support. You may also add maintenance and breakdown cover to your package (which can be added to your monthly payments) so that in the event of a vehicle breakdown or accident you don’t have to worry, or find cash to fix the problem. Leasing continues to be hassle-free when it’s time to change vehicles. When your contract comes to an end, you just need to return the vehicle – you won’t have to worry about trying to sell it on.

3. Money Saving
Perhaps the most important added value of commercial contract hire, is that contract hire can save you money. VAT registered companies can claim 50% of the VAT costs back when the contract comes to an end, and if the vehicle is solely used for business purposes, then 100% of the VAT can be reclaimed. As well as the tax benefits, the business will spend significantly less each month - up to 60% - than if they were to take out a hire purchase contract! In addition, the initial cost of commercial contract hire is also less than when buying a vehicle. You will usually pay a smaller deposit and if you opt for maintenance and breakdown cover, you’ll also avoid larger costs should the vehicle require them.

If you are interested in vehicle contract hire for your business, talk to the team here at My Big Green Fleet. We offer great deals on vehicle leasing across South Wales, including Newport, Cardiff, Swansea, Bridgend, Bristol and beyond. Give us a call to see how we can help on 08451 634141 or click here to contact us.

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Posted on 6th April 2017 at 2:53 PM

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