What is Business Contract Hire (BCH)
Business Contract Hire, or BCH, is a form of long term car hire for businesses. It is often known as car leasing. Businesses using contract hire for their vehicles have a set monthly payment and, unlike the rates for Personal Contract Hire, the amounts are exclusive of VAT.
Within the business contract hire agreement a lease term will be agreed, normally between one and three years, and an estimated annual mileage provided. The mileage is important since the car leasing company will use this figure to estimate the value of the car at the end of the agreement and also factor in the number of services/expected maintenance which a business contract hire agreement can incorporate.
Prior to receiving the vehicle the business will be asked for an initial deposit, usually multiples of the agreed monthly payment, after which the regular payments will begin. Especially important for business users is providing a reasonably accurate mileage figure since Business Contract Hire agreements will specify an additional charge per mile should the estimated figure be exceeded.
Business Contract Hire providers will usually calculate their rates by considering the type of business applying for the car lease, how long it has been trading and its credit history.
Benefits of Business Contract Hire (BCH)
Any company looking a simple and easy way to manage a fleet of vehicles or maintain a professional image will find Business Contract Hire ideal for them. Having a brand new Vauxhall which is fully maintained and replaced before it gets too old is great for business – running costs are set, the company image is professional and staff can rely on their vehicles to do the job.
Vauxhall Cars available on Business Contract Hire (BCH)
Vauxhall Vans available on Business Contract Hire (BCH)