Business Contract Hire | Chorley Group Finance
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Business Contract Hire

Cost effective and easily manageable long-term business rentals are the most popular method of hiring your business fleet.

Reduce your financial and administrative burden with Business Contract Hire, a credit agreement between your business and the finance company. Leasing your fleet allows you to avoid worrying about depreciation values and vehicle administration, instead simply paying fixed monthly payments for an agreed period of time (one to four years) and hand the vehicle back at the end of the agreement.

Contract Hire gives numerous advantages to your business. Leased vehicles don't need to be shown on a balance sheet and 50% of your VAT on the lease payments can be claimed back. The flexibility of the terms, costs and mileage allows your business to adapt to changing marketing conditions in your industry.

Business Contract Hire Chorley Group

Business Contract Hire (BCH) Benefits

Contract Hire is the one of the most cost effective ways to equip your fleet with premium commercial vehicles including vans, trucks, pick-ups and 4x4's. There are other benefits to Business Contract Hire leasing:

  • Equip your fleet with the latest technology in fuel efficiency and in-car technologies like Sat Nav, reversing cameras and Bluetooth.
  • Low initial payments, usually made up for three to six monthly payments.
  • Monthly payments are fixed at the beginning of the contract based on the duration of the lease and the annual mileage you expect to perform. The residual value of the vehicle will estimated and the monthly payments will be spread out to cover the depreciation costs by the end of the lease.
  • Remove unnecessary administrations and costs from your business, simply pay the monthly fees and hand the car back at the end of the lease.
  • VAT registered business can reclaim 50% of the VAT on the contract and 100% of the VAT on any maintenance element.

Do I qualify for Business Contract Hire leasing?

To be eligible for business contract hire leasing you must be a eligible sole trader, partnership or limited company. Your company will have to provide proof of address and ID and be subject to credit checks before a decision can be made whether or not your organisation is eligible.

What happens at the end of the lease?

At the end of the Business Contract Hire agreement you simply hand the vehicle back to the leasing provider with no further obligations on the vehicle. If you have exceeded the agreed annual mileage you will be liable to pay for each mile over the agreed total. The condition of the vehicle will be assessed according to the BVRLA (British Vehicle Rental and Leasing Association) Fair Wear and Tear guidelinesBVRLA (British Vehicle Rental and Leasing Association) Fair Wear and Tear guidelines. Any damage outside the BVRLA guides may be subject to end-of-lease penalty charges.

Contact one of our Chorley Group dealerships today to learn more about Personal Business Contract Hire and other finance options available.

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