With a low initial outlay, regular rentals, and no depreciating asset to worry about, Contract Hire is a cost effective and hassle free method to fund the use of a vehicle for your business. The cost is minimised as the vehicle payments are calculated on a VAT exclusive price.
You choose your desired vehicle, agree your annual mileage, and decide your hire period of between 24 and 60 months. Your rental is calculated based on your choices, such as: vehicle specification, added options, and servicing plans. At the end of your term, simply return the car to Jordans (within the agreed mileage and in good condition), choose your next car, and start again.
Simply put, this payment plan enables you to own the car outright at the end of the term. Choose the amount of deposit you wish to pay, which is deducted from the price of your vehicle, and then decide your agreement term of between 12 and 60 months.
The remaining balance plus the interest is then paid over the length of the term in monthly instalments. After which, the vehicle is yours.
Balloon Hire Purchase
Similar to Hire Purchase, Balloon Hire Purchase allows you to defer a balloon payment to the end of the agreement. Simply choose the length of the term, between 12 and 48 months, and then choose the amount of the balloon payment that you will defer to the end of the agreement.
The balloon payment and any deposit are deducted from the price of your car. The remaining balance plus the interest is then paid over the length of the term in monthly instalments. At the end of the agreement, following the settlement of the balloon payment, you will own the vehicle outright.