Here are some key features and benefits of Business Contract Hire (BCH) available with Ask 4 Leasing

 

Fixed Monthly Payments:

With BCH, businesses can budget more effectively as they know exactly how much they will be paying each month for the lease of the vehicle. These payments are usually lower than the monthly payments for purchasing a vehicle through a loan.

No Ownership or Depreciation Worries:

When you lease a vehicle under BCH, you don't own the vehicle at the end of the lease term. This means you don't have to worry about the vehicle's depreciation in value, which can be a significant concern when you own a vehicle.

Maintenance Options:

Many BCH agreements offer maintenance packages, which can cover routine servicing, repairs, and sometimes even tires. This can help businesses manage their vehicle maintenance costs more efficiently.

Tax Benefits:

In the UK businesses can often claim tax and VAT benefits or deductions on the monthly lease payments as a business expense, which can reduce the overall cost of leasing.

Flexible Terms:

Businesses can choose the lease term, usuall 2, 3, 4 and 4 years, whichever suits their needs, and at the end of the lease, they can return the vehicle and lease a new one or sometimes even have the option to purchase the vehicle at its residual value.

Fleet Management:

BCH is a popular choice for businesses that need to manage a fleet of vehicles. It allows for a more structured approach to vehicle acquisition and replacement. Ask 4 Leasing can help manage your fleet.

Less Capital Outlay:

Compared to purchasing vehicles outright, BCH typically requires less upfront capital, as there's no need for a significant down payment.

However, it's essential to be aware that there are often mileage limits and wear and tear restrictions in BCH agreements. Exceeding these limits or returning a vehicle with excessive wear and tear can result in additional charges. Ask 4 Leasing will allways ensure we contact our clients before any vehilce is returned to asses any wear an tear that may need to be repaired to avaoid any charges.

BCH can be a cost-effective and convenient way for businesses to access vehicles without the long-term commitment and financial burden of ownership. Businesses should carefully consider their specific needs, budget, and the terms of the lease agreement when opting for Business Contract Hire.

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