Contract Hire
Contract hire is used to describe long term rental (usually 3-5 years) of a vehicle. These contracts normally include a maintenance and repair plan for the defined period. The vehicle remains the property of the lessor (contract hire company) and never becomes the property of the lessee (the company renting and using the vehicle). Contract hire is a very popular choice for companies, with more than 40% choosing this funding method (Fleet Week). Tax advantages and reduced administration help businesses to budget more accurately for their vehicle requirements.
The Main Advantages of Contract Hire are principally finance benefits & vehicle running benefits
| Finance Benefits | Vehicle Running Benefits |
| Accurate monthly budgeting | No vehicle disposal problems |
| Off balance sheet | Reduced administration |
| Improved cash flow | On-going advice and support |
| Minimum capital expenditure | Road Fund Licence provided for duration of contract |
| Protect your capital budgets | Optional maintenance package |
| Fixed interest rates | Breakdown rescue cover |
| No peaks and troughs on maintenance costs | Optional replacement vehicle cover in event of breakdown |
| No depreciation risks. Responsibility for disposal rests with the leasing company |
Manvik own and operate one of the largest contract hire fleets in the UK & Ireland, consistently making us one of the largest purchasers of specialist commercial vehicles. There are a number of other distinct advantages that we can offer you too - tried, tested and trusted by some of the biggest and best names in the Private and Municipal Sectors.
What your fleet costs you is critical to your competitiveness and success and it is important that you look at all the options that will help you keep costs under control. For a start, Manvik is an independently owned company, with no financial links to any vehicle manufacturers, banks or finance houses. You can be sure that you will always get independent advice from us.
We have the depth of expertise and the hands-on experience to make a new Manvik contract hire deal one of the easiest business decisions you'll ever make - competitively priced vehicles, with no worries about maintenance, replacement vehicles, tax, or the hundred and one other things that can make operating vehicles a nightmare. Talk to our consultants now for a deal that will make all the difference.