Contract Hire is available to any type of customer (lessee) – whether business or private – but, because of its structure and form, it is ideally suited to VAT registered businesses because the VAT that rentals attract can be claimed back from Her Majesty's Revenue and Customs (HMRC).
The facility is offered by direct advertising in the press and other media (especially the internet) by Contract Hire companies or via finance brokers who offer agreements on behalf of finance providers.
Personal Contract Hire (PCH) is becoming a more popular option with consumers at the Point of Sale within dealerships.
