Business Contract Hire

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

If you like the idea of hiring a vehicle but for a longer period of time Business Contract Hire could be the ideal solution. Business Contract Hire allows your business to hire a new vehicle for an agreed period of time, with an inclusive monthly rental which may also release valuable capital from your current vehicle or your next potential purchase. Due to the competitive offers available - Business Contract Hire could mean you can afford an even better vehicle than you initially thought.

In most cases Business Contract Hire agreements provide the option to include a package commonly known as “maintenance” (for an additional increase to monthly cost). Maintenance packages offer comprehensive cover including routine servicing, replacement brake pads, replacement tyres (excluding damage sustained from theft, malicious or 3rd party damage), batteries, exhausts and in fact all other parts that are subject to fair wear and tear. All scheduled maintenance work will be carried out by the main dealer network, at a retailer of your choice. At the end of your agreement Morgan Highfield & Land will help arrange the collection of your existing vehicle & provide a competitive replacement cost for a vehicle of your choice.

Business Contract Hire agreements also avoid time-consuming vehicle disposal issues removing both uncertainty & concern surrounding the unforeseen rate of depreciation for each vehicle allowing you to make the best use of your valuable time.

Annual Road Fund License is included in the monthly rental for the duration of the contract & our agreements are free from hidden charges & administration fees (unless stated within a written quotation & subsequent order).

*Key Benefits of Business Contract Hire;

  • A low initial outlay from just 1 month's payment
  • A choice of rental period that’s right for you from - 24 to 60 months
  • Road Fund License included within the monthly rental
  • The ability the exit the agreement, at any time with an agreed & fixed termination charge
  • No depreciation risks or disposal concerns
  • The ability to show the vehicle off your balance sheet
  • Allows a proportion of the rentals allowable against tax
  • Recoverable VAT, dependent upon your business VAT status
  • Maintenance packages & reduced administration costs
  • The ability to forward plan & budget with fixed monthly payments
  • A simple 'hand back' process at contract finish
  • Could release more working capital back to your business

*Key Areas for consideration, is Business Contract Hire right for my business;

  • Charges will apply if for whatever reason your business wishes to terminate the agreement earlier than the agreed contract finish date
  • No pre-agreed ownership option at the end of your agreement
  • Fair & reasonable Excess pence per mile charges will apply if you exceed the pre-agreed total contracted mileage
  • Vehicle damage deemed outside of our fair wear & tear guide will be fair & reasonably chargeable at the contract finish
  • Fully comprehensive insurance cover, without exception is required at all times

* Subject to terms and conditions of the agreement

VAT registered businesses, a proportion of VAT is currently reclaimable on the rentals @ 50% of the VAT on the capital element (assuming an element of private use) and @ 100% of the VAT for any maintenance charges.

Important Message – We are not an IFA & do not offer qualified tax advice. Any general information found at prestige-car-leasing.co.uk or otherwise is no substitute for your own qualified tax or legal advice.

Find out more about Company Car Tax & Leasing

Looking for Personal car leasing deals? If so click here

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Regulatory Information
Morgan Highfield & Land and Prestige Car Leasing are trading names of Yorkshire Vehicle Finance Limited who are a credit broker, not a Lender.

Yorkshire Vehicle Finance Limited is Authorised and Regulated by the Financial Conduct Authority - FRN 665369. 

Yorkshire Vehicle Finance Limited is not an IFA & does not offer qualified tax advice. Any general information found at prestige-car-leasing.co.uk or otherwise is no substitute for your own qualified tax or legal advice. Lenders may pay us for introducing you to them.

Registered in England & Wales with company number: 03924927

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Contract Details
Business Contract Hire special offer pricing displayed in RED is exclusive of Vat @ 20% and with 12 payments in advance.
Personal Contract Hire pricing displayed in BLACK is inclusive of Vat @ 20% and with 12 payments in advance.

Contract Hire and all other methods of funding are subject to status, guarantees may be required. 

Different terms, mileages & contracts are available upon request. 
Please see our Terms and Conditions for further details.

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