Van Business Contract Hire

Van Contract hire is perfect for businesses that would like a brand-new vehicle but don’t want to own it. It is a long-term agreement which lasts between 2-4 years and can be tailored to your requirements. You can select the length of the term, mileage and initial deposit, which help lower the monthly rentals.

It is important to bear in mind that when using contract hire, if you exceed the annual mileage then you could see additional charges at the end of the agreement. So, make sure that when agreeing contract, you choose a reasonable mileage limit so that you avoid any charges later.

Once you have completed the agreed contract then you will hand the van or pickup truck back.

Why Should Use Choose Van Business Contract Hire?

It is often the case that the monthly payments are lower than other finance options. This provides you with the opportunity to drive the latest model at a fixed monthly cost, thus making budgeting more manageable. With van contract hire you can claim 100% of the VAT charged back.

There can be a lot of stress when comes to owning a vehicle and with this finance option, you won’t have that problem. This includes not having the risk of negative equity because you are not owning the vehicle. Business contract hire also provides the ability to upgrade to a new vehicle at the end of the contract with no hassle at all.

Not using your van for business but for personal use instead, then view our personal contract hire page for more information.

What Credentials Do You Need to Apply for Contract Hire?

Name
Date of birth
Address history from the last 5 years
Company name and company registration number (if a limited company)
Number of years trading
Email address
Bank details
Director details

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FAQs on Van Contract Hire

How long does van business contract hire last?

This can depend on your business needs, but it usually varies between 2 to 5 years.

Will I need to return the van at the end of the agreement?

For this type of contract, you will need to return the van once the contract has finished. This will allow you the opportunity to lease a new vehicle.

How long does the approval process take?

This will depend on the Lender, but it can take as little as one hour. We hope to get the answer within 24 hours. If the Lender requests further information from you then the decision will take longer.

Can I claim VAT back on contract hire?

You can claim back 100% VAT through contract hire if you are VAT-registered.

Can I still use contract hire even if I have a bad credit history?

This will depend on what the type of bad credit history you have. Lenders may have different criteria that you might need to meet to be approved. What it comes down to is if your incomings outweigh your outcomings. If you do have a bad credit history then you will need to prove to the Lender that you will be able to afford monthly payments throughout the contract.

Will I need to pay for dents and scratches on the vehicle once returned?

Lenders will ask for payment if the damage to the vehicle is not acceptable. You can find out what is deemed chargeable and what is acceptable, so, make sure before returning the vehicle to put these issues right.

Is insurance included in the Contract Hire Agreement?

Unfortunately, it is not included in the contract but there are plenty of insurance companies to choose from.

Van Business Contract Hire

Why Should Use Choose Van Business Contract Hire?

What Credentials Do You Need to Apply for Contract Hire?

FAQs on Van Contract Hire

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