Business Contract Hire

If your Business normally buys its cars with cash, a bank loan, or through a traditional Hire Purchase scheme, then you may find Business Contract Hire a far more cost-effective option.

Under current VAT legislation, all of Morgan Highfield & Land's lenders are able to reclaim the VAT on your new or 'VAT qualifying' used vehicle (less than 3 months old). This saving is then passed on to your business in the form of lower monthly rentals, fixed throughout the agreement. Not only does Business Contract Hire allow you to run a new vehicle for an inclusive monthly rental, but it also releases valuable capital from your current vehicle or your next potential purchase. Business Contract Hire means you can afford an even better vehicle than you initially thought.

Business Contract Hire can offer a package to include routine servicing and maintenance costs for a small increase in the monthly rentals. All scheduled maintenance work will be carried out by the main dealer network & at a local dealer of your choice. Maintenance** packages include replacement tyres (excluding punctures), batteries, exhausts and all parts that are subject to fair wear and tear.

At the end of your agreement Morgan Highfield & Land Ltd will arrange to collect your vehicle free of charge from your office address. Not only does this avoiding time-consuming disposal issues and any worries over depreciation of the vehicle* but allows you to make the best use of your valuable time. Annual Road Fund Licence is included in the monthly rental for the duration of the contract.

Key Benefits** of Business Contract Hire

• Business Contract Hire offers a low initial outlay from just 1 month's payment
• Business Contract Hire offers flexible terms from 24 to 48 months
• Business Contract Hire offers Road Fund Licence included in the monthly rental
• Business Contract Hire offers a choice of rental period
• Business Contract Hire offers no depreciation risks
• Business Contract Hire offers the ability to show the vehicle off your balance sheet
• Business Contract Hire allows a proportion of the rentals allowable against tax***
• Business Contract Hire offers optional monthly maintenance packages**
• Business Contract Hire offers the ability to forward plan
• Business Contract Hire offers the lowest fixed monthly rentals
• Business Contract Hire offers a simple 'hand back' process at contract maturity**
• Business Contract Hire removes time consuming disposal issues*
• Business Contract Hire makes more capital available to you
• Business Contract Hire offers allows VAT to be reclaimable on the rentals***
• Business Contract Hire offers complete peace of mind

* Excess mileage and vehicle damage charges other than fair wear and tear may be payable.
** Subject to terms and conditions of the agreement.
*** VAT registered businesses*, VAT is reclaimable on the rentals, based on 50% of the VAT on the capital element (assuming an element of private use) and 100% of the VAT for any maintenance charges.