Contract Hire
World Cup Contract Hire Promotion
Enter the draw to win a World Cup Football Shirt.
Come into the showroom and have a Contract Hire Quote to Win England Car Flag! You can then enter the draw to win a World Cup Football Shirt.
Any customers who purchase a vehicle on the Contract Hire Scheme between 1st and 27th June will automatically Win a World Cup Goodie Bag including Football, large Inflatable Football Chair with Cup Holders, England Pint Glass and Bottle Opener, World Cup Face Paints, England Car Flags and a World Cup Football Shirt for a team of their choice.
Contract Hire with maintenance
Fixed Rental Payments
Accurate vehicle and financial planning enables you to spread the cost of your vehicles, thereby improving cashflow for your business.
Optional Maintenance
Our ability to negotiate preferential terms extends to service and maintenance requirements of vehicles. We pass this saving on to you, making our fully maintained contracts particularly good value for money.
Accounting
A Humming Bird Motors Contract Hire transaction is classed as an ‘operating lease’ for accounting and tax purposes. Vehicles financed in this way do not appear on your balance sheet, thereby improving key ratios.
Tax & VAT
The following may be integrated into Humming Bird Motors Contract Hire in a manner to suit your exact requirements:
- Operating Lease rentals are an allowable expense for tax purposes subject to a proportional disallowance for expensive cars
- VAT will be chargeable on rentals and will be fully recoverable where there is no private usage of the vehicle. Where there is any private usage only 50% of the VAT on the finance element will be recoverable, but VAT on the remaining service elements is normally 100% recoverable. If the vehicle is a ‘commercial vehicle’, all VAT is normally recoverable irrespective of private use.
Contract Hire without maintenance
Fixed Rental Payments
Accurate vehicle and financial planning enables you to spread the cost of your vehicles, improving cashflow for your business. You will be responsible for all service and repair costs which must be carried out to the manufacturer’s recommended intervals.
Financial Aspects
- A Contract Hire Agreement is classed as an ‘operating lease’ for accounting and tax purposes. Vehicles financed in this way do not appear on your balance sheet, thereby improving key ratios.
- Tax aspects - Operating Lease rentals are an allowable expense for tax purposes subject to a proportional disallowance for expensive cars.
- VAT will be chargeable on rentals and will be fully recoverable where there is no private usage of the vehicle. Where there is any private usage only 50% of the VAT on the finance element will be recoverable but VAT on the remaining service elements is normally 100% recoverable. If the vehicle is a ‘commercial vehicle’, all VAT is normally recoverable irrespective of private use.
