Contract Hire Explained

Contract hire explained

At Dick Lovett BMW and Dick Lovett MINI our experts are on hand to help guide you through every aspect of business leasing and contract hire, whether you’re a business owner, fleet manager or you receive a company car allowance.

Business contract hire, also known as business leasing, allows a company to lease cars for a set period of time and pay by monthly instalments. The rental cost is reduced because the business lease provider reclaims the VAT on the car or fleet you choose and then passes the saving on to you.

The business doesn’t own the car, so it’s off the company’s balance sheet and is simply returned to the lease provider at the end of the contract term. It’s also available to those who are self-employed.

Contact our finance specialists at Dick Lovett BMW if you are interested in a new BMW, or for MINI enquiries, contact Dick Lovett MINI to find out more.