Business Car Leasing
Find out more about business leasing with Jacksons Leasing
Business car leasing, sometimes known as contract hire, is an easy and cost effective way for a business to funder any number of vehicles, without having to pay for the vehicle upfront. Whether you're looking at just one vehicle or a fleet of vehicles, Jacksons Leasing can help you with the supply and management of your fleet vehicles.
Business contract hire works well for all types of businesses, including Limited Companies, Sole Traders, and Partnerships, and allows you to tailor your lease agreement over a number of years and include maintenance options.
There are a few elements that should be noted when looking at business leasing:
Advantages of 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
There are plenty of advantages to business contract hire, but like most financial agreements there are some disadvantages to look out for:
Disadvantages of Business Car Leasing:
- 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 form of car finance where you pay a fixed monthly fee over a set duration of time. Contracts can range in length, typically between 24 and 48 months and mileage is choosen by you at the beginning of the contract.
One key difference from renting a car is that with leasing you can choose the exact make and model of the vehicle along with your preferred options on the car, including the colour of the vehicle.
A vehicle lease from Jacksons Leasing, whether for business or personal users, will include free mainland UK delivery, full manufacturer's warranty and road tax for the duration of the contract.
Servicing, tires, and full breakdown cover can be added to your agreement for a fixed monthly price for peace of mind.
Jacksons Leasing can supply vehicles to all manner of businesses including limited companies, sole traders, partnerships, and charities.
Just like any financial agreement, the business will need to go through a finance application.