Many companies over the world use contract hire as an easy, affordable solution that’s cost effective and saves valuable time and money. Most van or car leasing companies offer contract hire in either 2 – 4 year plans; these are paid in affordable monthly repayments which can be fitted around a company’s bespoke needs.
When the contract expires companies are given the option to either renew the contract and receive new vehicle, or in some cases companies are even offered the chance to purchase the vehicle which they had previously hired for a fraction of the original price.
When taking out a vehicle contract, companies needn’t worry about their mobile assets devaluing as they are simply leasing them for a set time. Having employee’s drive new vehicles is also beneficial to the company image/brand as it reflects the companies success.
Contract hire is actually much cheaper than one would expect, especially when compared to buying a vehicle brand new. What’s more most contracts include break down and repairs schemes so you won’t have to dish lots of money to repair the vehicle if it get accidently damaged.
As an added bonus road tax is thrown into the price so having the worry of knowing when to renew it won’t be a problem as it’s already included in the monthly payments.
Contract Hire is a great option for companies under financial strain as they needn’t have to dish out huge sums of money on new vehicles to uphold there brand image.
Contract hire is a good idea for most businesses however they should make sure the contract they opt for fits their exact specifications; not all include insurance, break down cover, and unlimited monthly miles (maximum 44,000)
Contract Hire Guide 