Mitsubishi Contact Hire
What is Contract Hire?
Contract Hire is a rental product where the monthly rentals for a vehicle are
based on the period of hire, the annual mileage, the vehicle price and the
anticipated future value of the vehicle. Service and maintenance cover can be
introduced. On a contract hire agreement, you pay an initial payment of three or
six monthly rentals and this is followed by equal monthly rentals over the 2 or
3 year period of the contract. At the end of the agreement, as long as you have
fulfilled the mileage and condition requirements, you simply return the vehicle
to us
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Key benefits of Contract Hire
- Contract Hire offers lower fixed monthly rentals.
- Rental fees for contract hire vehicles are allowable
against tax (restricted on the cars costing more than £12,000).
- 50% of the VAT can be reclaimed on rentals on cars (the
actual percentage may vary).
- There's an optional maintenance package to cover
unexpected costs for contract hire vehicles.
- Cash flow is improved.
- Administration is minimal to setup an agreement for a
contract hire vehicle.
- Contract Hire protects you against any fall in used
vehicle prices.
- You're not responsible for disposing of the vehicle via a
contract hire approach since the vehicle is simply returned.
- Your vehicle can be changed for a new one every 2 or 3
years.
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Click on the Vehicle of choice for more
information
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