Why choose Contract Hire when financing a business car?
- Flexibility – You could set the term and annual mileage to suit your needs and amendments and extensions are usually possible.
- Manage maintenance – By adding maintenance into your Contract Hire agreement, you can spread the costs of servicing and repairs.
- Avoid Depreciation – As you don’t own the vehicles, you will not be affected by market values depreciating.
- Less admin – We source and supply your car and you return it at the end.
- Helps cash flow – No upfront charges and fixed monthly rentals could help your business’ cash flow.
- Upgrades – Easily replace your business cars every two, three or four years, as required.
- Lower costs – We purchase some cars with larger discounts than normal and you could benefit from lower costs when you select one of these special offer vehicles.
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What's a business Contract Hire car?
Business Contract Hire cars are a flexible solution that could help you even out your business costs and minimise the financial risks associated with car ownership. Things like unforeseen maintenance and repairs can really affect the cash flow of your business. When choosing Lombard business Contract Hire you could also benefit from our large scale purchasing of vehicles which could lower the costs of your business cars.
To find out more about Contract Hire as a type of asset finance and other related services we provide, visit the Contract Hire page.
Business Contract Hire requirements
Through LVS we offer Contract Hire to micro businesses and sole traders, as well as larger-scale companies. If you are VAT registered and plan on using the vehicles entirely for business, you are able to claim back 100% of VAT however if the vehicles are used for a mix of business and pleasure, the amount of VAT claimable decreases to 50%.
Tax reliefs referred to are those applying under current legislation which may change. The availability and value of any tax reliefs will depend on your individual circumstances’
Lombard Vehicle Solutions (LVS) is provided by ALD Automotive Ltd (ALD), trading as Lombard Vehicle Solutions, Oakwood Drive, Emersons Green, Bristol, BS16 7LB. The arrangement ensures that Lombard customers as well as those of National Westminster Bank PLC and The Royal Bank of Scotland PLC have access a wider range of products to meet their vehicle finance needs.
Customers whose agreements are regulated by the Financial Conduct Authority should be aware that there is a financial connection between ALD and Lombard, which is acting as a credit broker and not a lender and that Lombard will receive a payment from ALD should you wish to proceed with an agreement. You can ask Lombard or ALD for more information about this.