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Contract Hire

Contract Hire is another form of hire contract that is typically used to finance the acquisition of new cars and light commercial business cars. It acts as a contract between the lease company providing the customer with the use of the vehicle for a fixed length of time or hire period. The benefit to you is that you will experience none of the risks associated with ownership, and you can simply hand the vehicle back at the end of the contract duration. Rental costs paid each month can also include the provision of road fund licence, tyres and routine servicing. Furthermore, your lease payments are calculated around the future re-sale value of the motor vehicle and a stipulated contractual mileage (e.g. 15,000 miles per annum).