​Contract Hire is a popular vehicle leasing option that allows you to drive a brand-new car or van for a fixed period and mileage, without ever owning it. You pay an initial rental followed by fixed monthly payments for the duration of the agreement—usually between two and four years. At the end of the contract, you simply return the vehicle to the leasing company with no obligation to buy it.

This option is ideal for individuals and businesses who want hassle-free motoring with predictable costs. Road tax is included for the full term, and you can also add an optional maintenance package to cover servicing, tyres, and repairs. Because you never own the vehicle, you don’t need to worry about depreciation or resale value—making Contract Hire a simple, cost-effective, and stress-free way to drive a new vehicle regularly.

Here are the key benefits of Contract Hire:

1. Fixed monthly costs – You pay a set amount each month, making it easy to budget and manage your motoring expenses.
2. Low initial payment – Contract hire typically requires a smaller upfront cost compared to buying or other finance options.
3. No depreciation worries – Since you don’t own the vehicle, you’re not affected by its drop in value over time.
4. No resale hassle – At the end of the term, simply return the vehicle—no need to worry about selling or trading it in.
5. Road tax included – Vehicle Excise Duty (road tax) is covered for the entire length of the contract.
6. Optional maintenance packages – You can include servicing, maintenance, and tyres for complete peace of mind.
7. Access to new vehicles – Enjoy driving a brand-new car or van every few years with the latest technology, safety features, and fuel efficiency.
8. Professional image for businesses – Helps companies maintain a modern, reliable fleet without large capital outlay.

Finance Lease is a flexible funding option that allows you to use a vehicle for an agreed period while spreading the cost through fixed monthly payments. Unlike Contract Hire, a Finance Lease gives you the opportunity to share in any potential resale value at the end of the agreement. You don’t own the vehicle, but you are responsible for its disposal at the end of the lease, and you may receive a proportion of the sale proceeds once it’s sold to a third party.

This option is particularly popular with business customers who want to keep vehicles off their balance sheet while still benefiting from many of the advantages of ownership. Finance Lease agreements can be structured with or without a final “balloon” payment to help reduce monthly costs, offering flexibility to suit your cash flow. It’s an ideal solution for those who want to drive newer vehicles, manage budgets efficiently, and retain some control over the asset at the end of the term.

Here are the key benefits of a Finance Lease:

1. Low initial outlay – You can access a new vehicle without the large upfront cost of buying outright.
2. Fixed monthly payments – Regular payments make budgeting simple and predictable.
3. Flexible structure – Agreements can include a final “balloon” payment to lower monthly costs, allowing you to tailor the lease to your budget and cash flow.
4. Tax efficiency – For businesses, lease payments are usually tax-deductible, and the vehicle remains off the balance sheet.
5. Potential equity return – At the end of the term, when the vehicle is sold to a third party, you may receive a share of the sale proceeds.
6. No mileage restrictions – Unlike Contract Hire, Finance Lease often has no strict mileage limits, offering more flexibility for higher-use vehicles.
7. Access to newer vehicles – Enjoy the benefits of modern, reliable vehicles with the latest technology and lower running costs.
8. Optional extension – You can often continue to use the vehicle after the initial term for a small annual fee.