Contract Hire, sometimes referred to as an Operating Lease, is a long term rental agreement. Contracts range from 12 to 60 months and are tailored to the businesses requirements.
The Contract Hire Company reclaims the VAT on the original purchase, which reduces your monthly rentals (which are + VAT). Contract Hire is a very popular choice for VAT registered companies as they can claim back 50% of the VAT on the finance element for cars and generally 100% for commercials (subject to no private use, no exempt turnover and not being on the Flat Rate VAT Scheme).
On contracts with maintenance the VAT on the service element is 100% recoverable. One of the major benefits is that there are no disposal worries as the future value is underwritten by the leasing company.
* Please note that calls to Sprint Contracts Limited may be monitored or recorded. All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
T: 01782 566 806
F: 01782 454 524
Sprint Contracts Limited
Newcastle under Lyme
Sprint Contracts Limited are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 688249
Registered in England & Wales with company number : 3871903 | Data Protection No : Z6896619 | VAT No : 797685151
Registered Office: Unit 1, Studio 2 Lymedale Court, Dalewood Road, Newcastle Under Lyme, Staffordshire, ST5 9QH
Copyright © 2020 Sprint Contracts Limited, All rights reserved.