Contract Hire is now a very attractive option for Business Users as it effectively allows them to “Hire” vehicles as opposed to owning them. This eliminates any concerns about residual value and at the end of the term they can simply return the car to the lease company and begin a new contract hire lease on a brand new car.
Maintenance packages are also included in most Contract Hire agreements and this minimal monthly cost will take care of your complete running costs for the term of the lease.
A Contract Hire agreement with Audi Finance can run over one, two, three or four years and will be tailored to suit your annual mileage and your motoring needs.
If you are a VAT registered business a proportion of the rentals may be tax deductible. Contract hire is classified as an operating lease for current taxation purposes, therefore it is regarded differently to 'purchase' contracts so you may benefit from certain tax advantages. Your financial or tax advisor should be able to advise you if this applies.
Another alternative to Contract Hire is Audi P.C.P which is a perfect solution for a driver who is mainly office based , travels very little business mileage but has the option of a company car. Audi P.C.P is a Personal Contract Plan.
Under our Personal Contract Plan, Audi Finance purchases the car on your behalf. You pay a deposit of between 10% and 30% and then pay an agreed monthly payment over 36 months.
A portion of the car’s value is deferred until the end of the agreement which reduces the monthly payment substantially, this is your Guaranteed Future Value.
At the end of the 36 months you have three options.
- Pay the final instalment and take ownership of the car, or re-finance it subject to lending criteria.
- Part exchange your car for another
- Return your car to Audi Cork with no further payment, terms and conditions apply.
P.C.P is a great alternative because it will reduce your benefit in kind payment (You pay BIK based on monthly allowance instead of value of vehicle) and it also allows you to keep control of the vehicle at the end of the term. The Guaranteed Future Value is set at an amount which ensures that the owner will gain equity at the end of the period.
In summary we at Audi Cork believe that we have the solutions to all business users motoring needs and would be delighted to explore all these options at our initial meeting
We look forward to talking to you soon
For more details
Email: leonardprendergast@audicontracthire.ie