Business Contract Hire
Contract Hire is a popular choice for V.A.T registered companies with more than 40% of companies choosing this funding method.
Having minimum outlay and maximum control of costs along with the tax advantages and reduced administration assists business to budget accurately for their vehicle needs. Contract Hire is available for Sole Traders, Partnerships and Ltd Companies.
Finance/Taxation Benefits
- Accurate monthly budgeting
- Off balance sheet
- Improved cash flow
- Minimum capital expenditure
- Fixed interest rates
- Rentals allowable against taxable income
- V.A.T recoverable on monthly rentals*
- No depreciation risks
*Only 50% of the V.A.T relating to the finance element is recoverable if car has any private use. 100% if business only. On contracts with maintenance the VAT on the service element is fully recoverable.
Vehicle Running Benefits
- No vehicle disposal problems
- Reduced administration
- On-going advice and support
- Road fund Licence provided for duration of contract
- Optional maintenance packages
- Optional replacement vehicle cover in the event of breakdown
- Optional GAP Insurance*
*GAP Insurance provides cover for the short-fall between the outstanding finance payable and the insurance value if vehicle is declared a write-off by your insurance company.
For more information on our fleet offers please call us on 01270 848986 or contact us at groupfleet@swanswaygarages.com