Contract hire or buying outright: which is right for your fleet?
Should you lease your business vehicles or buy them? We break down the pros and cons to help you decide.
One of the first decisions any business makes about its vehicles is how to fund them. Contract hire and outright purchase each have their place, and the right answer depends on how you run your business.
The case for contract hire
Contract hire spreads the cost into predictable monthly payments, protects you from depreciation and the hassle of selling vehicles, and can include maintenance. Your cash stays in the business where it can work harder.
The case for buying
Buying outright means you own the asset and can keep the vehicle for as long as you like. It can suit businesses with spare capital and very high mileage or specialist vehicles.
Our advice
As an independent broker we look at the whole market and recommend the funding method that genuinely fits your needs. Get in touch for an impartial review.