Contract Hire
If your options, when buying a vehicle are; to pay cash, arrange a bank loan, or
through a traditional Hire Purchase scheme, you may find Contract Hire, set up through
Turner Hire Drive, the cost-effective alternative.
Contract Hire gives you with the benefits of running a new vehicle, for an inclusive
monthly rental, and enables you to release valuable capital from your current vehicle
or indeed the money put aside for your next potential purchase.
With Contract Hire you can afford an even better vehicle than you may have initially
budgeted for.
How Does It Work?
Contract Hire is available for business users only.
A monthly rental charge is calculated based on differing factors, which include:
the cost of the vehicle, the contract period, anticipated resale value, predicted
mileage, service and maintenance costs; together with any additional services, such
as, relief vehicles. You benefit from one monthly fixed payment, which allows you
to forecast your outgoings more accurately.
Under a Contract Hire agreement, Turner Hire Drive retains ownership of the vehicle,
and therefore continues to absorb the subsequent risks such as unforeseen running
costs and uncertain resale values.
Contract Hires relieves you, of the financial burden, of purchase and on-going maintenance
of the vehicle; leaving your capital in your account.
Turner Hire Drive offers a package that includes routine servicing and maintenance
costs, and can carry out all scheduled maintenance work in-house. Maintenance packages
include replacement tyres (excluding punctures), batteries, exhausts and all parts
that are subject to fair wear and tear.
Annual Road Fund Licence is also included in the monthly rental for the duration
of the contract.
Key Benefits of Contract Hire with Turner Hire Drive
- low initial outlay
- flexible terms
- Road Fund Licence included in the monthly rental
- choice of rental period
- no depreciation risks
- rentals allowable against tax
- the ability to forward plan
- the lowest fixed monthly rentals
- a simple 'hand back' process at contract maturity
- removes time consuming disposal issues
- makes more capital available to you
- allows VAT reclaimable on the rentals
- Contract Hire offers complete peace of mind
Almost 50% of fleet vehicles, registered in the UK, are now financed on a contract
hire basis and with more and more companies now aware of the benefits, contract
hire has become a major growth area within the industry.
Whether you are looking to run 1, 5, 50 or 500 vehicles, Turner Hire Drive will
be pleased to discuss your business motoring requirements.
Contact our sales team for more information.
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