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Contract Hire
Contract Hire is designed to take away the major sources of hassle involved in the often thankless task of running a commercial vehicle fleet.
Put simply, it combines a leasing arrangement with repair and maintenance all included in your monthly payment.
The basic idea of Contract Hire
Typically over 3-5 years, a Contract Hire agreement with Mercedes-Benz CharterWay requires no capital investment and the vehicle is off balance sheet. Throughout the life of the arrangement you know in advance precisely what your outgoings will be on a month-by-month basis. There are no hidden surprises or cash flow-disrupting peaks and troughs, which is good for the budgeting process.
The following items are typically included:
- An Operating Lease
- All scheduled maintenance
- All necessary repairs – including brake pads and clutches
- 24 hour Roadside Assistance 365 days a year for the duration of the contract
In addition it can also cover:
- Road Fund Licence
- Replacement vehicle in the event of vehicle breakdown
- Tyres
- Maintenance for ancillary equipment such as cranes, fridges and tail lifts
- Collection & delivery for scheduled maintenance
- Out of hours servicing
- Windscreens
- Fixed penalty administration
- Business benefits of Contract Hire
A Contract Hire agreement can benefit your business in a number of ways;
- No disposal risk or hassle
- Additional credit lines
- Totally fixed and predictable costs
- Outsourced administration
- Outsourced management
- Off balance sheet funding
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