Business Contract Hire is commonly referred to as vehicle lease and allows businesses a fixed payment method for the use of a vehicle for a term of normally between 12-48 months. The payments attract VAT of which for cars 50% and for commercial vehicles 100% of the finance element is reclaimable, 100% of the VAT for any maintenance payment is reclaimable. The rental payments are also classed as a true business expense so can be wholly offset against corporation tax. The benefits are fixed monthly payments with no disposal risk but reasonable care has to be taken of the vehicle and also there is an obligation to remain under the stated mileage at the contract inception or the finance company will levy a charge for loss of value.
* If the vehicle exceeds the contract mileage an excess mileage charge will apply. These will be specified on your quotation. You should try and estimate the distance you will travel as accurately as possible to try and avoid excess mileage charges at the end of your contract.
T: 0345 643 5687
3 Eaton Court Road
Colmworth Business Park
AAM Group trading as bestcarfinder.co.uk are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 667946
Registered in England & Wales with company number : 03107480 | Data Protection No : Z7840262 | VAT No : 667706890
Registered Office : 3 Eaton Court, Colmworth Business Park, Eaton Socon, Cambridgeshire, PE19 8ER
Copyright © 2019 bestcarfinder.co.uk, All rights reserved.