If you are a business customer, Contract Hire and Finance Lease are both viable vehicle finance options.
If you're looking for hassle-free van leasing where you simply return the vehicle at the end, Contract Hire could be the right option for you.
With Finance Lease, however, you have more control over the vehicle and, if you look after it well, you might reap the benefits in the end. This is not possible when leasing the van on Business Contract Hire, as a higher residual value will benefit the funder instead of you. Finance Lease might also be more suitable for businesses that require more practical use of the van where there's a chance for damage to occur.
Both agreements come with optional vehicle maintenance. If you choose a maintained agreement, you'll enjoy routine servicing, repairs, tyres, battery, exhaust, and breakdown recovery of your van for a small additional fee included in your monthly rentals.
Business Contract Hire and Finance Lease come with remarkable tax benefits. You can find out more by reading our blog Tax Benefits and Implications of Business Car and Van Leasing. VAT-registered businesses may also be interested in learning how they can reclaim VAT on leased vehicles.
Click the button below to compare Business Contract Hire and Finance Lease.
BUSINESS CONTRACT HIRE VS FINANCE LEASE
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