I am currently looking at the replacement van for a very good plumber I know from Rochdale Lacrosse Club. As a small business he has been effectively 'blinded by science' when it comes to the information he requires to do the best for his business.
Effectively the question was "Are you quoting a Contract Hire or a Lease?"
Answer:
Contract Hire - is just that, a hire/rental of a vehicle. 50% of company cars are funded in this way. At the end of the contract the vehicle return to the hire company.
A Lease - The vehicle is, in effect owned by the person paying the bills! At the end the vehicle becomes your liability with a possibe one-off 'balloon' payment to pay. Mainly vans are funded this way.
For this client, it is in his best interest to Contract Hire, he can budget his payments and has no responsibility for the van at the end of the contract. He has better things to do than start selling one van to pay for the next!
There are so many options available that you really should speak to an impartial expert. This becomes difficult when nearly every 'expert' has their own specialism in which they make money!
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