Car Finance Explained - Contract Hire

What is it?

Contract Hire is basically a rental agreement that allows a customer to take control of a vehicle for a fixed period of time, paying a fixed monthly fee for the duration of the term and then return the vehicle at the end of the contract.

The payments are calculated by looking at initial cost of the vehicle, projected annual mileage and depreciation of the vehicle, the payment is the difference between the initial cost and the final residual value of the vehicle, so the higher the residual the lower the payment! The customer is not responsible for the disposal or sale price of the vehicle at the end of the contract which makes it a very easy and risk free way to run a vehicle.

Advantages of Contract Hire:

Service packages can be added to your agreement further fixing your monthly costs.

Hire rental tax allowances also apply.

A new vehicle every few years.

Easy disposal at the end of the agreement.

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Other Finance Options

Are you eligible?

  • Do you own a full UK driving license?
  • Have you been a UK resident for the last three years and have an address history?
  • Are you employed and work a minimum of 16 hours a week?
  • Are you aged 21 years or over?

What's Involved

Car Credit Assured will make buying the car you want easy!

1. Call or apply online - our finance team today on 0330 108 3793.

2. Get a decision - We will search our panel of lenders to ensure the best result for your credit status and call you with a decision as quickly as possible.

3. Arrange an appointment - To ensure you receive the best possible experience we will call you and arrange an appointment at one of our dealerships at your convenience.

4. Pick up your car - Once all documentation is received we aim to have you driving away as soon as possible.

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