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Business Contract Hire (also known as Business Leasing) agreements are a cost effective way of funding a single company car or a fleet of business vehicles. Simply choose a vehicle that fits your needs or those of your employees, decide whether you would like a 2, 3 or 4-year term and estimate your annual mileage.
To make your experience even easier, you can include servicing & maintenance costs in the monthly payment.
Contract hire is suitable for sole traders, partnerships and especially limited companies, who are able to claim back 50% of the VAT on vehicle payments and 100% of VAT on maintenance costs.
There are many advantages to choosing business contract hire over purchasing vehicles outright:
This is in addition to driving a modern, fuel efficient car with all the latest safety technology.
You will pay an initial rental and a fixed monthly amount for the duration of the contract, at the end of which you are able to simply hand the keys back and walk away with nothing more to pay, or start again with another new model from our range.
The initial rental is up to you - put in a higher amount at the start of the contract to bring down the monthly repayments or spread the cost over the entire term.
The length of your contract is flexible to suit your business' requirements and can be over a period of 24, 36 or 48 months. Your monthly rental payments are based on an agreed annual mileage.
An annual mileage allowance is agreed at the beginning of the term, and is tailored to suit you. The minimum mileage we offer is 6,000 miles per annum. The maximum mileage we offer is 150,000 miles over the duration of the contract.
Please note that exceeding the maximum mileage limit may result in excess mileage charges at the end of the contract, so it is important that you accurately estimate the distances you will travel throughout the duration of your deal.
Vehicle Excise Duty (also known as Road Tax) is included in the cost of the monthly repayments.
The finance provider is the owner of the vehicle, meaning you cannot sell the car nor do you have any concerns regarding end of term disposal.
It is possible to terminate Business Contract Hire agreements early but early termination fees usually apply and they can be significant.
Marshall Motor Group Limited is authorised and regulated by the Financial Conduct Authority. Our Firm Reference Number is 310503. Details of our permissions and trading names can be checked via the FCA register https://register.fca.org.uk/s/
All of the following companies are individually authorised and regulated by the Financial Conduct Authority with a Limited Permission for credit broking. Each company is a credit broker not a lender: Marshall North West Limited; Marshall of Ipswich Limited; Marshall of Peterborough Limited; Marshall of Scunthorpe Limited; and Silver Street Automotive Limited. All of the following companies are Appointed Representatives of Marshall Motor Group Limited for credit broking: Pentagon Limited; Ridgeway Garages (Newbury) Limited and S G Smith (Motors) Beckenham Limited.
We will receive a commission or other financial benefit from our lenders for arranging finance for you. For further information on our commission arrangements please see our Finance Commission Disclosure Statement
Marshall Motor Group Limited is authorised and regulated by the Financial Conduct Authority to conduct insurance distribution as an ancillary insurance intermediary. All of the following companies are Appointed Representatives of Marshall Motor Group Limited for the purposes of insurance distribution: Marshall North West Limited; Marshall of Ipswich Limited; Marshall of Peterborough Limited; Marshall of Scunthorpe Limited; Pentagon Limited; Ridgeway Garages (Newbury) Limited; S G Smith (Motors) Beckenham Limited; and Silver Street Automotive Limited.
List of Companies for credit-broking and insurance distribution
More about our credit-broking services & our insurance distribution activities
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