Business Contract Hire
Contract Hire
Since April 2009 this form of Contract Hire has become even more popular for businesses in the UK.
Businesses can now deduct the full cost of the finance rentals from taxable profits if the car emits 160g/km of CO₂ or less.
On cars with higher emissions, there is a flat rate disallowance (called the Lease Rental Restriction) of 15% of the finance rental.
Who is it for?
For VAT registered companies that want minimum outlay, maximum cost control and fantastic tax advantages.
Tell me more
Whether your company runs just 1 car or 1,000 vehicles, the probability is that Contract Hire is the most cost effective way to finance your fleet.
Contract Hire gives your business fixed cost motoring, including the Road Fund Licence, for the term of the agreement, allowing for exact budgeting and positive cash-flow.
A low initial deposit, the advantage of fleet discounts and volume bonuses make this a hard product to beat for your company vehicles.
For 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.
Contract Hire is the only form of finance to give ‘Off Balance Sheet Funding’ and a significant proportion of the monthly rental is allowable against Corporation Tax.
All scheduled maintenance work is carried out by the main dealer network, at a dealer convenient to the driver. Maintenance packages include replacement tyres, batteries, exhausts and all parts that are subject to fair wear and tear.
All our car leasing plans are available on all makes and models, from the more prestigious Audi, BMW, Mercedes and Jaguar to reliable favourites such as Ford, Vauxhall, Peugeot and Renault.
Our Contract Hire plans include:
- Low initial deposit and fixed monthly payments.
- Free delivery and collection anywhere in the UK.
- The contract length and mileage tailored to exact requirements.
- Optional breakdown and recovery service, with European cover.
- Optional inclusive maintenance contract, with routine servicing, repairs and tyres etc., for a fixed monthly cost.
- Personal support and advice throughout your contract from Countrywide Vehicle Contracts.
Also see
- Business Contract Purchase
- Finance Lease
- Lease purchase
- Personal Contract Purchase
- Personal Contract Hire
- Company Car Tax
