Vehicles are hired for a fixed cost over an agreed time period. This comprehensive fixed cost vehicle funding facility has the additional advantage of being "off balance sheet" – which therefore improves gearing and other performance-related ratios. In essence, Vehicle Contract Hire is an ideal option if actual company ownership of vehicles has been ruled out. Vehicle Contract Hire offers:-
- Clear financial and cash flow advantages, with no deposits
- Minimal maintenance problems or costs
- Regulated and controlled monthly outflows
- No vehicle disposal or depreciation problems
- Enhanced budgeting and less administrative time.
- No large deposits – large initial deposits are not required, allowing capital to be better utilised
- Fixed rentals – the monthly rental (which can include a comprehensive maintenance package) is fixed for the duration of the agreement, offering inflation-proof motoring
- Less risk – at the agreement’s end, the vehicle is disposed of at no cost risk to yourself
- Vehicle retention – should you choose to retain the vehicle then contracts can be extended formally
- Less expensive rentals – economies of scale across all fleet products, including vehicle acquisition, are reflected in the monthly rental, giving immediate savings
- Maintenance package – a maintenance inclusive package covers all routine servicing and mechanical breakdown across the whole of the contract; the package can be enhanced by additional services to cover requirements as homestart, onward travel, replacement vehicles, and "gap" insurance
- Removal of risk – the maintenance package effectively removes potential risk, in terms of excessive costs and cash, from your company
- Driver support – all drivers receive a comprehensive Driver Guide specific to the type of contract chosen
- Range of support – the Driver Guide includes a directory for tyres, batteries and exhausts, along with a free-phone number to our Fleet Control Department; this is fully computerised and manned by trained personnel.
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