Contract Hire is not always suitable or the best option.
Your business uses the vehicle while paying a rental rather than a repayment. The monthly rental is determined by the initial cost of the vehicle (excluding VAT), the period of the finance lease and the residual value (the estimated future value of the vehicle at the end of the finance lease period once depreciation is taken into account), plus interest.
Minimum capital expenditure
Accurate monthly budgeting
A fixed interest rate is available on some contracts
No damage recharge as you are responsible for disposal of the vehicle
Finance lease is a very popular choice for VAT registered companies and businesses 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). On contracts with maintenance the service element VAT is 100% recoverable
Rentals can be offset against the businesses profits. Cars with a CO2 output above 130g/km are currently subject to a 15% disallowance on the amount of the rental that can be claimed against the businesses taxation, for cars with a CO2 output of 130g/km or below, there is currently no disallowance
Lamia put me,the customer first the day I entered their office. They listened to my requirements and got me the best deal as well as being transparent on costs and conditions of contract. They even arranged interim car hire between the old and new vehicle. Testimony to using a local business who are values based!
Lamia put me,the customer first the day I entered their office. They listened to my requirements and got me the best deal as well as being transparent on costs and conditions of contract. They even arranged...
i have used Lamia for many years and can honestly say they r one of the best companies for Client care i know of. Nothing is to much trouble and they bend over backwards to give you what you want. I recommend...