We’re not going to bore you with pages and pages of text telling you the ins and outs of every single contract type because we really like to talk to people (call us!). For now, here’s some brief information regarding the contracts we offer which will be replaced with short videos in the future.
This information will give you a brief idea of what each type of contract entails but which would suit you best? We won’t know until we know more about you (and your fleet). Call Ridings Automotive Financial Services on 01482 858800 to talk to a human.
From 2 to 5 years in length, contracted through your business or personally. You hand the vehicle back at the end of your contract and in most cases can even amend the contract’s parameters during your agreement. No residual value risk, no lump sum rental payments at the end, your road tax is included and you can claim 50% of the VAT back if you’re a business.
Also available in a variety of contract lengths and as a general rule – the longer the contract, the lower the payments. You can opt for a lump sum payment to bring the monthly cost down further if required (but usually, you can refinance this too if needed). No VAT recovery with this product and it can be taken with a maintenance package if desired, available for both business and personal customers.
A business only option, this type of contract is like Contract Hire though you undertake the residual value risk and sell the vehicle on to a third party at the end of the contract (or roll into peppercorn rentals). In some instances there’s the option to own the vehicle too but this depends upon the specific terms offered by the relevant finance company for your agreement.