The Benefits of Contract Hire
You may or may not understand the full benefits of contract hire when it comes to leasing a car, but you will certainly know more about these benefits once you have finished reading this article. Let’s say you own your vehicle and you use it not only for your personal uses on a regular basis, but you also use it for your business. If this is the case then you are missing out on some beneficial things when it comes to getting a contract hire vehicle. There are many people who don’t even know about these benefits.
Contract hire benefits
With contract hire benefits you will be able to reap the benefits of not having to deal with VAT. This is only the case if you are using the car solely for work related purposes. Now, if you decide that you want to use the vehicle for both work related purposes as well as your personal purposes then you will have to be responsible at least 50% VAT.
An operational lease is basically just another name for contract hire. You lease the vehicle for a certain period of time whether it is for your own personal use, or the use of your workplace. You will be paying a fixed rate per month which is based off of the depreciation value of the vehicle, so you would only be paying a fraction of the monthly payments that a buyer a vehicle would have to pay.
More advantages besides VAT
Here are some of the other advantages that you would get from contract hire cars.
Less money spent per month just to lease a vehicle. When it’s for business purposes you can save up to 60% a month.
No need to take out a loan
No worries about selling a vehicle that has depreciated in value; when the contract is up you can trade it for a newer model (In other words no need to put it on the market).
A contract car can be chosen online and it can be delivered to you.
For businesses it is cheaper to lease vehicles rather than own them.
Maintenance, cost and services are all taken care of when the car is contract hire for a business.
Road fund for the car is included for as long as the lease on the car lasts.
Leasing new vehicles will keep you having a new one each year so that you are not left with a car that is eventually going to look worn out.
So with all of the benefits mentioned above contract hire vehicles are most especially beneficial for businesses, and can keep the vehicles updated which would make their companies look more professional. If you want to check out some contract hire vehicles then you might be interested in visiting this website to check out the huge selection of vehicles that are available for lease. You will be amazed with the options of high quality, classy cars that are available.