Business Car Leasing
Discover more about business car leasing with Lincoln Vehicle Solutions.
Business car leasing, also referred to as contract hire, offers a simple and cost-effective solution for businesses to fund any number of vehicles without upfront costs. Whether you need a single vehicle or an entire fleet, Lincoln Vehicle Solutions provides comprehensive supply and management services.
Ideal for Limited Companies, Sole Traders, and Partnerships, business contract hire allows you to customise your lease agreement over several years, with optional maintenance packages available.
Advantages of Business Leasing
There are a few elements that should be noted when looking at business leasing:
- Minimum capital expenditure
- Accurate monthly accounting
- Fixed interest rates for the duration of the contract
- Reduced administration
- On-going advice and support with Jacksons Leasing
- Road Fund Licence provided for the duration of the contract
- Optional maintenance package
- Optional breakdown rescue cover
- Optional replacement vehicle cover in event of a breakdown
- Optional GAP insurance which provides cover for the shortfall between the outstanding finance and the insurance value if the vehicle is declared a write-off by your insurance company
Disadvantages of Business Car Leasing:
There are plenty of advantages to business contract hire, but like most financial agreements there are some disadvantages to look out for:
- Early termination can be expensive if required to do so. Normally 50% of the remaining contract is expected as the charge.
- If you do more miles than stated in your contract you will be charged excess mileage for each mile over that stated in your contract, normally billed as pence per over mile.
- You must look after the vehicle and return it in a well-maintained condition otherwise you will be charged for any damage over and above that stated in the 'Fair Wear and Tear Guide' from the BVRLA.
- You must have fully comprehensive vehicle insurance.
- You will never own the vehicle as there is not always an option to buy the vehicle at the end of the lease contract.
Your Business Leasing Questions Answered
Business leasing, also known as contract hire, is a type of car finance where you pay a fixed monthly fee over a specified period. Contracts typically range from 24 to 48 months, and you select your desired mileage at the start.
Unlike renting a car, leasing allows you to choose the exact make and model, along with your preferred options, such as the vehicle's color.
A vehicle lease from Lincoln Vehicle Solutions, whether for business or personal use, includes free delivery within mainland UK, a full manufacturer's warranty, and road tax for the entire contract duration.
For added peace of mind, you can include servicing, tires, and full breakdown cover in your agreement for a fixed monthly fee.
Lincoln Vehicle Solutions provides vehicles to a wide range of businesses, including limited companies, sole traders, partnerships, and charities.
As with any financial agreement, businesses will need to complete a finance application.