One of the most popular forms of vehicle leasing for businesses, contract hire arrangements are well-liked for their lack of bureaucratic obligations. The option of simply handing in the old vehicle at the end of the term, and replacing it with another one using another contract hire deal, is also appealing for VAT-registered companies that desire both security and flexibility for their fleet's financial commitments.
A fixed monthly rental cost over a certain period is agreed between your business and Lookers Land Rover. This takes into account the estimated annual mileage of your chosen vehicle over the period of the deal, and whether you would like to include a maintenance plan. At the end of the term you simply hand your vehicle back to us with no additional costs (as long as the vehicle has stayed within its mileage allowance).
As you do not own a Land Rover used under a contract hire agreement, your business bears no responsibility for its depreciation or sale. This also results in tax efficiencies on VAT, Vehicle Excise Duty and Benefit in Kind levies – for example, a VAT-registered business can claim back 100% of the VAT paid on the vehicle if it is used exclusively for business purposes.
Contract hire deals are therefore ideal for enterprises that want to update their fleet quickly with minimal short-term expenditure.
Head to any of the Lookers Land Rover dealerships, located in Bishops Stortford, Colchester, Chelmsford (Essex), or Battersea, Park Royal (London), call us, or fill in our enquiry form and a member of the Lookers Land Rover Corporate team will gladly help with further details on Land Rover Contract Hire funding.