Contract hire is an ideal product for companies who don't want the financial risk of running their own car and van fleets, and who are looking to reduce the administrative burden of buying, servicing and disposing of their vehicles.
Your company simply hires the vehicle from First Sterling Finance for a pre-determined period at a fixed monthly rate. First Sterling Finance retains ownership of the vehicles - and the risks associated with them - and at the end of the contract they are returned to First Sterling Finance.
The key benefits of contract hire to the business user are:
- fixed costs
- reduced operational risk
- detailed reporting
- reduced administration
- simplified funding process
- alternative credit line
Contract Hire is vehicle leasing for a set time and mileage period.
The fixed monthly rental is determined by:
- depreciation of the vehicle
- length of contract
- planned mileage
- any additional services
You choose the vehicle, the terms and the additional services, while we source, deliver and maintain the vehicle throughout the contract hire period. At the end of the contract you simply return the vehicle with nothing more to pay, and you can take up a new contract with a new vehicle of your choice.
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