What Is It?
Contract Hire is our most popular type of leasing arrangement for Corporate Fleet and Business Users. With a contract hire agreement, you take on a vehicle for a fixed period of time, and at the end of the fixed term all you simply have to do is hand the vehicle back to the leasing company, nice and simple.
That means there is no burden of having to purchase and sell on the vehicle, no residual value risk, and additional features such as fixed cost vehicle maintenance can be included.
How Does It Work?
We give you the choice to decide on the make/model of the vehicle(s) required and the length of the agreement (usually 2 to 5 years), and estimate the mileage you expect the vehicle to travel over the duration of the contract. You can also build in optional vehicle maintenance and we'll then provide a fixed monthly Contract Hire rental which will remain unaffected by changes to residual values or interest rates.
The leasing company retains ownership of the vehicle, and at the end of the primary term, you simply hand the vehicle back.
Now that some of the details of the service has been ironed out let’s take a look at some of the key features and benefits of a Contract Hire agreement.
You will only require a small initial outlay; normally just 3 months in advance so you can spend any extra money saved on something you’ve been eyeing up for a while, perhaps a little get away?
You will be able to budget accurately as you will make regular payments of a fixed cost, and as a result, you won’t have to worry about any unexpected bills.
We offer flexible contract terms from 2 to 5 years to suit most people’s needs and contract mileage allowance of up to 180,000 miles.
There is no depreciation risk and we ensure there is no hassle on disposal.
Another great bonus is the 100% tax relief on a wide range of Contract Hire vehicles.
Road tax is usually included for the full term, and fixed cost maintenance is available as an option.
100% VAT may be recovered on commercial vehicle leasing and fixed cost maintenance (50% VAT recoverable on finance payments).
Essential accident assist
Concept also includes essential accident assist for free, just another thing you don’t need to worry about!