Corporate & Engineering Finance

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Finance Solutions - Contract Hire
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Key features and benefits

Features

  • Your company hires the vehicle for a specified period and makes fixed regular payments. 

  • The funder retains ownership of the vehicle and is responsible for the associated risks. 

  • At the end of the agreed rental period the vehicle is returned to the funder.

  • Rental payments are based on the purchase price of the car and account for the rate of depreciation, the period of rental, the anticipated mileage, maintenance requirements and any additional services included in the agreement.

  • Whilst typical rental periods are between 24 and 36 months, at CEF we are flexible in offering a wide variety of contract terms, mileages and in some circumstances payment intervals.

  • We apply an uncomplicated ‘fair wear and tear’ assessment of vehicles at the end of contract. This conforms to the British Vehicle Rental and Leasing Association ‘Fair wear and tear’ guide.

  • Our involvement can be at whatever level matches your needs and circumstances. Most of our customers opt for a full service and maintenance package.

  • You need never see a garage bill.

  • A dedicated service through the AA or RAC will be provided, which will help to reduce disruption to you and your company car drivers.

  • Uninsured Loss Recovery

  • Accident Management

Benefits

  • You can be free of the financial risk and administrative burden associated with outright ownership of your company’s vehicle fleet.

  • Fixed contract rentals allow you to plan ahead with confidence. Rentals are agreed in advance and remain the same for the duration of the contract (subject to any changes in VAT or capital allowance rates).

  • As the initial capital outlay is relatively low, contract hire can help to ease your cash flow situation and release funds for your company’s core business.

  • The risk of lower than expected resale values is borne by the funder who undertake all vehicle disposals.

  • Reducing the administrative burden of looking after your company’s vehicle fleet will allow you to concentrate upon car policy and company strategy, without the distraction of such things as vehicle disposals, servicing and renewing road fund licences.


Call CEF on 01926 511 100 or 07885 304 9 79
Fax CEF on 01926 511 148 Email: