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.
Email : firstname.lastname@example.org
Telephone : 0161 478 4330
Company Address :
360 Vehicle Management Ltd
42 High Street
Membership No: 8160
360 VM is an appointed representative of Product Partnerships Limited which is authorised and regulated by the Financial Conduct Authority. Product Partnerships Limited’s FCA registration number is 626349 and its address is Suite D2 Joseph’s Well, Hanover Walk, Leeds LS3 1AB. Product Partnerships Limited’s permitted business is to act as a Principal for a network of Appointed Representatives who arrange regulated credit facilities for customers who are purchasing goods from them.
360 VM acts as a credit broker not a lender. We can introduce you to a limited number of lenders who may be able to offer you finance facilities for your purchase. We will only introduce you to these lenders. We may receive a commission payment from the finance provider if you decide to enter into an agreement with them. The nature of this commission is as follows: we typically receive a fixed commission of £300 per lease entered into, however, this commission may vary in certain circumstances, for example, based upon the model of the vehicle and market influences. In these circumstances, the commission will not exceed a fixed percentage of the total amount of finance advanced. You can request for us to disclose the amount of any commission received. You may be able to obtain finance for your purchase from other lenders and you are encouraged to seek alternative quotations. If you would like to know how we handle complaints, please ask for a copy of our complaints handling process. You can also find information about referring a complaint to the Financial Ombudsman Service (FOS) at financial-ombudsman.org.uk
Registered in England & Wales with company number : 09533717 | Data Protection No : ZA128717 | VAT No : 211 7550 40
Registered Office : Ground Floor, Seneca House, Links Point, Amy Johnson Way, Blackpool, Lancashire, FY4 2FF
Disclaimer: All vehicle images and descriptions are for illustration and reference purposes only. please visit the relevant Manufacture website to view the most recent and up to date spec of the vehicle. As this could differ from the information on our website. All vehicle leases are subject to credit approval and subject to change at any time. E&OE.
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