Hire & Leasing Finance
Fixed monthly costs, tax efficiencies, and zero depreciation risk.
Vehicle Hire & Leasing Products
Hiring or leasing vehicles enables businesses and private drivers to operate new and reliable vehicles without committing significant capital upfront or bearing the burden of depreciation when selling.
Contract Hire (Business)
Contract Hire is the most popular form of business vehicle leasing. An initial rental is followed by fixed monthly rentals over a term typically spanning 24 to 48 months. At the end of the contract, the vehicle is returned without any residual value liability.
- VAT recovery: 100% of VAT recoverable on commercial vehicles; 50% on company cars with personal use
- Monthly payments are typically treated as tax-deductible operating expenses
- Optional comprehensive maintenance packages eliminate unexpected servicing and tyre costs
- No disposal worries or used-vehicle market risks
Personal Contract Hire (PCH)
Personal Contract Hire provides private motorists with the advantages of corporate contract hire. You pay a simple initial rental followed by fixed monthly payments, returning the vehicle at the end of the term.
- Drive brand new cars with full manufacturer warranty protection
- Accurate monthly budgeting with fixed outgoings
- No concerns over vehicle depreciation or resale values
- Simply return the car at the end of the agreement and upgrade to a new model
Finance Lease
Popular for commercial vehicles, vans, and commercial equipment where mileage or heavy usage makes standard contract hire restrictive. Finance Lease allows your business to pay for the asset over an agreed primary period, with options to extend into a secondary rental period (peppercorn rental) or sell the asset to a third party and retain up to 95% of the proceeds.
- No mileage penalties or excess wear and tear charges at termination
- Flexible payment structures including balloon rentals to reduce monthly outgoings
- Vehicle appears on your balance sheet as an asset with corresponding liability
- VAT is paid on monthly rentals rather than paid upfront