Choosing a Business Contract Hire Car
Leasing a car through a business contract hire deal takes the financial strain out of securing a new vehicle. Buying a new car would put a hole in the running costs of any business. By leasing you avoid the expense of putting the money up front, or of having to take out a car loan. Instead, you put down a deposit and sign a business contract hire deal which can last from a year up to five years.
You will still need to make monthly payments for the car being leased, but they will be less than those for a loan deal. Once the leasing period is over, you can either give the vehicle back to the contract company, who continue to own the car during the period of the lease, or buy it from them.
There are several points to consider when choosing a business contract hire car. The main one is which company you will deal with. There are many companies offering business contract hire, so it is important to find the best one to deal with. Just check online and see what they have to offer.
A low deposit, free delivery and collection of the car and flexible payment options may be things that appeal to you. A business car contract hire company with a good track record may be another.
Having made picked your business contract hire car company, you will also need to consider the choice of lease. If you prefer regularly having the use of a new vehicle then the shorter leasing deal may be best for you. Then there is the question of your mileage. Annual mileage is an important component of the cost of any leasing deal. This has the advantage of you paying for the car only when you use it. However, should you exceed you annual mileage, you will pay more. While knowing your annual mileage makes good business sense, needs do change. So if you believe your mileage may change, check to see if this can be altered without incurring any extra charges or penalties during the term of the lease.
When choosing a business contract hire car, check to see what extras the leasing company has to offer. It may be that they pay the road fund licence, offer free roadside recovery or discounted prices for maintenance. These extras are not only attractive, they will save your business money.