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Finance

From Contract hire to Lease to the straight purchase financial agreement.

Type of lease

In essence, there are three main categories, Contract Hire, Finance Leasing and Lease Purchase. Contract Hire is designed to achieve cost stability by removing much of the risk of vehicle ownership. Finance Leasing provides a flexible and easy method of funding; the choice is usually determined by the customer attitude to risk. Lease Purchase is similar to Hire Purchase as you retain the equity of the vehicle

Contract Hire with Maintenance

This is our most popular type of lease by some way and is the choice of customers who regard leasing as a means of maintaining costs at a known level for the purpose of budgetary control. With Contract Hire, the risks of owning and maintaining the vehicle is not borne by you the customer, so if vehicle values fall heavily or the vehicle requires above average maintenance (or both!), the contract hire company must stand such a problem, not the customer. The comfort level can be further improved by taking up one of several replacement vehicle options.

We find a number of schools and councils are now moving into contract hire as well as some smaller fleets (The customer is required just to supply insurance, driver, fuel and to check oil level once a week maintaining a regular monthly payment of a known contracted amount)

Contract Hire without Maintenance


By accepting the risk on maintenance, careful drivers can benefit from the lower level of rental, but it is an important condition on this type of lease that the vehicle is properly maintained during its term - at the customer’s expense.

A sensibly structured Finance Lease will provide a simple, flexible and effective source of funding for customers who do not wish to tie up working capital in vehicle ownership. A lower rental results from the fact that the customer is prepared to take responsibility for both maintenance and an agreed end of lease value for the vehicle.

Hire Purchase/ Lease Purchase

We have held a Consumer Credit Licence (with the government office of fair trading) since 1988
so have the experience and are well able to handle and deal with your hire purchase requirements.

Accounting Requirements: It should be borne in mind that, unlike Contract Hire, vehicles on Finance Lease and Hire Purchase must be reflected in the balance sheet, possibly having a material effect on the financial gearing of the business.