What is Contract Hire?
Contract Hire provides the use of vehicles together with various services for an agreed period of hire, at an agreed rental. We can provide any make of vehicle - new or nearly new, nationwide.
Contract hire key features with EVC:
Why choose Contract Hire?
Contract Hire allows long term budgeting with fixed inflation proof rentals and so removing the risk of depreciation from the lessee. The day to day running of the fleet is taken care of for you. The package eliminates excessive maintenance costs that would otherwise be incurred by your company. Your capital is not tied up in vehicles. It has become even more attractive to fleets due to the savings available on VAT.
How does Contract Hire work?
Choose any make or model of car or commercial vehicle. Once you have decided on the preferred term and estimated the annual mileage, a fixed rental is set. If the full maintenance option is chosen then the rental will include all servicing, maintenance and mechanical repairs and membership of the AA. Road Fund Licence throughout the rental period is included with both the maintenance and non-maintenance options. Also, substantial savings can be made if you choose a nearly new vehicle.
When purchasing a new vehicle, Leasing/Contract Hire companies will reclaim all of the VAT on the vehicle. Therefore the capital amount requiring funding is greatly reduced and this advantage is reflected in the monthly rentals. Also VAT charged on vehicle rentals is fully reclaimable by the lessee on the maintenance amount and 50% reclaimable on the leasing amount (100% if the vehicle has no private use or if it is a commercial vehicle).
What are your Obligations?
Full comprehensive insurance will be your responsibility
Providing fuel and top-up oils and fluids
On return of the vehicle, any excess mileage above that agreed in the Contract
The cost of any non-repaired accident damage on return of the vehicle