Business Finance Brokers | Contract Hire For Business

What is Contract Hire?

An alternative to buying a product outright, contract hire allows you to hire an asset over a fixed term.

At the end of the term, the asset is returned to the lease company or supplier.

Return conditions are set out at the start of the agreement with the rental profile.

Key Features

No intention for the end user to acquire the asset at the end of the primary lease period.
Off Balance sheet – the debt does not show in your liabilities.
Reduces your cost as the funder or manufacturer takes the risk in the residual value of the equipment and factors this into the rental.

Important Information

Rental period is for less than the estimated useful life of the asset.
Contracts require the end user to maintain and use the asset in accordance with the manufacturer’s recommendation.
The asset must be fully insured.
Your accountant will be able to provide more information. This information is provided for guidance only.

Contact Us

Contact an expert in your area to discuss whether Contract Hire is the best option for your business.

Locate your local expert on our Contact Us page.

Alternative Funding Options

Finance Lease

Finance leasing is similar to hire purchase, whereby you pay for the goods in instalments and is generally considered to be capital leases for accounts purposes.

Hire Purchase, arranged by Business Finance Brokers Ltd, allows you to use goods immediately, but pay in instalments. At the end of the hire term, you will pay An Option to Purchase Fee to transfer title of the goods to you.

Agricultural Loans

Agricultural loans are a flexible finance option, with short or medium-term finance arranged for the purchase of goods or services. Business Finance Brokers Ltd can secure the best loan rates for your business.

Business Finance Brokers Ltd is authorised and regulated by the Financial Conduct Authority, FRN: 675825. All finance is subject to status and income. Written quotation on request. We act as a credit broker and not a lender. We work with a number of carefully selected credit providers who may be able to offer you finance for your purchase. We are only able to offer finance products from these providers.

It is our intention to provide a high level of service at all times. However, if you have reason to make a complaint about our service you should contact Business Finance Brokers Ltd at The Gables, Watling Street, Burbage, Hinckley, Leicestershire, LE10 3JA. If we are unable to resolve your complaint satisfactorily, you may be entitled to refer the matter to the Financial Ombudsman Service (FOS). Further information is available by calling the FOS on 0845 080 1800 or at http://www.financial-ombudsman.org.uk