Business Contract Hire Leicester

Business Contract Hire in Leicester has never been easier. There are lots of different ways for your business to buy a new or used car for your business and at Ready2Lease business contract hire (BCH) is one of these.

So what is business contract hire?

A Business Contract Hire agreement is a long term arrangement which allows a business to lease a car. The usual time span for a Business Contract Hire agreement is anywhere between 24 to 60 months i.e. 2 to 5 years). After the contract is finished, the car will be collected by the lender.

Business Contract Hire agreements are all calculated with a fixed monthly rental cost that is static over an agreed period of time, as well as an annual mileage limit. We try to be as accommodating as possible, which is why we allow you to customise both the agreement duration and mileage.

How does business contract hire work?

First, you need to decide how much you want to pay each month. You also need to calculate how how many miles you’re likely to do each year. Once you have that information you can then search for cars that fit with those 2 basic criteria.

We can then help you find the perfect vehicle.  If you are looking to order multiple cars for your business we can help you secure additional discount from manufacturers, who want nothing more than to see your business driving their brand.

What happens at the end of a business contract hire deal?

At the end of the deal, you simply hand back the car. If you have done more mileage than you anticipated when entering the deal, you’ll be charged for any excess miles.

You'll also be charged for any damage to the car, so it’s worth paying for repairs that need to be done and to have the car thoroughly cleaned inside and out before returning the keys.

What are the main benefits of Business Contract Hire?

Lower costs
Something that attracts a lot of people to take out a Business Contract Hire agreement is the low initial rental. Compared to how much you could pay for buying a car, the difference is quite considerable.

Fixed costings
When working within a business, costings related to vehicles can often be a concern. When you choose a Business Contract Hire agreement, you'll have fixed costs which include:

• the leasing service (i.e. the vehicle itself)
• maintenance
• servicing
• road tax.

Being able to plan how much you use a vehicle is crucial within a business, and fixed costings makes it so much simpler and budgeable. Any costings can be worked out well in advance before you start using the car, so you will always be prepared.

Lower risk
When you begin a Business Contract Hire agreement with Ready2Lease, you agree on a predicted level of depreciation. Any other depriciation that may occur will not compromise your contract. By not owning the vehicle, you do not have to worry about selling it on after your contract has ended. You simply return it and pick up your next new car (if desired).

Administration
When using and running a vehicle in your business, it's important that you have correct paper work. With most lenders you will be given access to their fleet portal, whereby you can make changes to your agreement and check important details.

VAT
Many businesses don't realise that if you lease a vehicle exclusively for commercial use, you are able to claim back 100% of the VAT. Furthermore, even if the car is used as a private vehicle, you are still able to reclaim at least 50% of the VAT.

Ready2Lease pride ourselves on offering some of the best deals for business contract hire in Leicester. Please browse through our site to check out some of our special offers. We look forward to being of service to you soon soon.

In the meantime, if you have any questions, please get in touch and we'll be happy to answer any other questions you may have. Also, why not have a look at our current special offers.

Are there any disadvantages to Business contract hire?

As with everything in life, there are always pros and cons. Below are some of the things to consider when entering into a business contract hire agreement:

High mileage
Mileage is a key part of any car lease for businesses. It is important that you estimate your annual mileage as closely as possible and accurately reflect that in your lease agreement. Penalties for excess mileage average around 10p per mile but can increase considerably if the vehicle is of executive class. An extra ten thousand miles on the clock - which, while somewhat extreme, does happen - is likely to put £1,000 or more onto the final bill. So estimate properly from the get-go and you can avoid this unwanted extra cost at the end.

Excess wear and tear
Fair wear and tear is understandable – no leasing company expects the vehicle to come back as perfect as it left – but taking this to excess is going to be costly. If you are providing vehicles to your staff, it is important that you remain vigilant regarding their maintenance of the car or van. A good rule of thumb is for people to treat the car in the same way they would had they bought it themselves!

Minimising physical damage both internally and externally is obvious, but one of the often-overlooked problems is that of smell. Smoking and eating are huge culprits when it comes to ruining the cabin atmosphere and should be discouraged or banned in all vehicles that form your business lease.

Maintenance and servicing
Remember to always get your fleet serviced by an authorised dealership to remain in the terms of your business contract. Use of unknown or unauthorised garages can incur fees when the vehicle is returned.  You can always add a maintenance package to your lease - Check with us when ordering for prices relevant to your car and terms.

Think Business Contract Hire Leicester: Think Ready2Lease

Need help? Contact us below and get the answers you need:

☎️ 0116 4030235

📧 Hello@Ready2lease.co.uk