Car Leasing Directory | A Guide to Business Contract Hire & Leasing
Car Leasing & Car Contract Hire
Whether you are self employed, a sole trader or a public liability company contract hire remains the most popular choice for businesses that operate company cars or vans for business use.
Car leasing is used as a generic term by most people to describe a leased vehicle, but of course like most financial products you need to ensure that you take out the right contract agreement that really suits your business, as there are many car contracts to choose from.
To start, I will explain what type of car contract agreements are available in today’s market place, who are the main providers and how car leasing brokers and agents benefit the buisness and private consumer. We will also look at how this very complex industry and market place works, who are the winners and losers and who benefits most from this competitive arena . We will deal with van leasing contracts later as this is a slightly more complex area to explain so look out for it.
Terminology Used
- Car leasing
- Contract lease
- Lease hire
- Contract hire
- Car contract hire
- Lease
- Personal leasing
- PCH & PCP Plans
- Lease car contract
- Employee ownership schemes (ECOS)
- Operating lease and so many more…
You name it or punch in to Google, Yahoo or MSN and you will find a vast array of car contract terminology used to describe the most popular products. You may find yourself confused and not really sure whats on offer. You will probably find yourself on some website focusing on price for a vehicle you have never considered before simply because the advertised price is so low you really can’t believe it, only to realise that the offer ends this week - You then wake up to find it’s a 3dr hatchback and your business requirements are for an estate car for a service engineer that covers 30,000 miles p.a and not the 5-6,000 miles offered.
First do your home work, speak with a professional, a car leasing company that is an appointed and affiliated official leasing agent for the major leasing and contract hire providers, they will be able to explain in detail the major benefits and difference between all of the contract types and who will offer willing advice on which car contract will suit your business circumstance. Ask if they are regulated under the consumer credit act as this will be vital if your are not limited by liabilty and data protection act. You will need to be open with them and may need to discuss your financial position, projected growth and the reason for the vehicle requirement and any special conditions surrounding your business or needs - Get it right and you will not regret it.
Most would tend to agree a deal on price first, this would be wrong. I cannot express this enough, you must agree the right contract type and conditions that suit for your business at that time first, overtime this may change so be prepared to change. Look at all of the options available - one contract type does not fit all, otherwise it may cost you dearly if your circumstances change.
Available Business Car Leasing Contracts
- Business Contract Hire
- Contract Purchase
- Lease Purchase
- Finance Lease