Business Contract Hire is commonly referred to as vehicle lease and allows businesses a fixed payment method for the use of a vehicle for a term of normally between 12-48 months. The payments attract VAT of which for cars 50% and for commercial vehicles 100% of the finance element is reclaimable, 100% of the VAT for any maintenance payment is reclaimable. The rental payments are also classed as a true business expense so can be wholly offset against corporation tax. The benefits are fixed monthly payments with no disposal risk but reasonable care has to be taken of the vehicle and also there is an obligation to remain under the stated mileage at the contract inception or the finance company will levy a charge for loss of value.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
T: 01904 405299
F: 01904 405304
Peregrine Vehicle Leasing
3 Maple House
Northminster Business Park
Peregrine Vehicle Leasing is a trading style of Peregrine Asset Finance Ltd, registered in England number: 4208223 and whose registered address is 3 Maple House, Wykeham Road, Northminster Business Park, Upper Poppleton, York, North Yorkshire, YO26 6QW. Peregrine Asset Finance Ltd is authorised and regulated by the Financial Conduct Authority number FRN649227, ICO number Z7989599, Peregrine Finance offers financial facilities to UK customers only through a number of authorised funders, a list of which is available on request. We are a credit broker and not a lender. BVRLA Registration Number - 2182
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