Contract hire is the ideal option for businesses who want the benefit of a small deposit and fixed monthly payments. This usually includes the annual Road Fund Licence and all scheduled maintenance.
You do not own the vehicle. The risk of ownership lies with the finance company and once the agreement has ended, the vehicle is returned to the finance company and you will have no further financial liability providing that the vehicle is within the agreed annual mileage and is still in good condition.
You can contact West End Leasing for a quote on a new vehicle before the agreement has ended to ensure you are not without a vehicle.
Contract hire can be regarded as 'off balance sheet'. Speak to your accountant for further advice on tax and VAT implications of contract hire.
*Please note that all of our financial services are subect to status, for more information please see our terms & conditions.