What is contract hire?
- Our Contract Hire solution can be the most efficient way to get behind the wheel of the latest, safest and most reliable vehicles. It's a flexible, hassle-free way to finance a fleet of both cars and commercial vehicles.
- You’re in control of how you choose spread the cost, made up of an often small deposit and fixed monthly payments for the duration of your agreement. You can even choose to add vehicle servicing, maintenance, breakdown cover and accident management to your contract to avoid any unwanted financial surprises!
- Instead of paying for the full cost of the vehicle, you monthly rental is based on the difference between the initial value of the vehicle and its expected residual value (vehicle depreciation) at the end of your agreement. This means you don't have to pay a large, upfront payment for your vehicle and monthly payments are lower.
At the end of your agreement:
- Come the end of your contract term, you have further choice to extend, hand back or swap out your vehicle for another new model.
- Simply return your vehicle to us with nothing extra to pay, (subject to it being in line with the BVRLA Vehicle Return Standards, vehicle condition and excess mileage - other charges may be payable).
How does it work?
- Speak to one of our fleet experts to agree a mileage allowance and select your vehicle
- Make an advanced rental payment covering the first 3 months
- Once the hire agreement is signed, the vehicle will be delivered
- Pay fixed monthly payments for the duration of your contract
- At the end of your agreement you will have the option to extend the term or hand the vehicle back to Athlon
What do you need to know about contract hire?
Fixed regular monthly rentals (that include VAT) means you can easily budget
You can pay an agreed number of advance rentals at the start of the contract or agreement
Rentals are based on your annual mileage
We manage the vehicle taxation process on your behalf, as well as sending MOT reminders and administering any speeding and parking fines when necessary
Service, repair and maintenance options are also available
Capital expenditure is eliminated
Your business can gain an additional line of credit
Rentals are allowable against taxable profits (proportionally)
VAT is reclaimable depending on usage (proportionally)
The vehicle may not show as an asset on the balance sheet
Rentals also include the cost of Road Fund Licence over the length of the finance agreement
How can Athlon help you?
To speak to a member of the Athlon team about your funding options, get in touch via our online form.
Athlon Contract Hire
Our contract hire product is available with or without maintenance, allowing you to decide what is right for your business. Whatever you need. Athlon can find a leasing solution that works for you.
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