Gareth Posted November 29, 2007 Report Share Posted November 29, 2007 [ QUOTE ] Yep contract hire, 2 or 3 year contracts. Deposit is 3 payments followed by either 23 or 35 payments depending on contract length. Gareth, the offers doesn't seem to be restricted to business users only as the personal contract hire rate is the same but obviously with VAT added on top. As accountants we are finding more and more of our clients switching to contract hire. I think people like the fixed costs whithout having to worry about negotiating trade-in values, discounts etc. Just run the car for a couple of years hand it back and then find another cheap deal. Merlot, I totally agree if you like to add options then contract hire is not the best way to finance your vehicle but if you can find a car with a nice standard spec then it does seem to be a good alternative to owning the vehicle. [/ QUOTE ] There is some truth in what you say here but don't forget that with contract hire the initial 3 month deposit is used to part fund the profit in the deal and the money paid off is essentially dead (as in renting, not buying) and one has nothing to show at the end. For some people (Limited companies/Sole Traders etc) it can work and certain aspects can be written off in your books but it doesn't suit all. And normally the better deals are for business users only. FWIW I'm looking into contract hiring a couple of cars for my business right now and it is-even for an expert -a bloody minefield!! Link to comment Share on other sites More sharing options...
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