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Contract Hire, sometimes referred to as an Operating Lease, is a long term rental agreement. Contracts range from 12 to 60 months and are tailored to the businesses requirements.
The Contract Hire Company reclaims the VAT on the original purchase, which reduces your monthly rentals (which are + VAT). Contract Hire is a very popular choice for VAT registered companies as they can claim back 50% of the VAT on the finance element for cars and generally 100% for commercials (subject to no private use, no exempt turnover and not being on the Flat Rate VAT Scheme).
On contracts with maintenance the VAT on the service element is 100% recoverable. One of the major benefits is that there are no disposal worries as the future value is underwritten by the leasing company. Another benefit of Contract Hire is that it is generally 'off balance sheet funding' (subject to legislation change) which means it can improve your gearing ratio (assets to borrowing ratio) and therefore possibly your borrowing ability in the future.
FleetBusters Vehicle Leasing
20 Broomhall Road
Company Reg No : 08068339 | Data Protection No : ZA164918 | VAT No : 161276517 |
FleetBusters Vehicle Leasing is authorised and regulated by the Financial Conduct Authority. Registered No : TBC.
Please note that failure to pay your monthly repayments could result in termination of your agreement, missing payments could have severe consequences and make obtaining credit in the future more difficult. Commission disclosure | Complaints procedure
Registered Office : Fleetbusters Ltd, 20 Broomhall Road, Sheffield, S10 2DR
Copyright © 2020 FleetBusters Vehicle Leasing, All rights reserved.
All pictures and/or photos and car descriptions on this site are for illustration and reference purposes only and are not necessarily the vehicle on offer. All offers are subject to change at any time and are subject to finance approval and vehicle availability. All prices correct at time of publication. E & OE.