What is Contract Hire (Personal/Business)?
Novuna Vehicle Solutions offers Personal Contract Hire and Business Contract Hire through our broker-dealer network.
With Contract Hire, you can lease a vehicle for a set period with fixed monthly rentals inclusive of VAT. The term, mileage, vehicle cost and expected value of the vehicle at the end of the agreement are factors determining the rental cost.
Terms are customisable within a pre-defined range, with fixed payments throughout (VAT subject to change). You can opt for maintenance covering servicing, tyres and repairs. Mileage is fixed with excess mileage being charged in-line with the excess mileage rate on the agreement.
Road Fund Licence (Vehicle Tax) is also included, with any increases re-charged during your agreement term.
It is important to note you will be responsible for insuring the vehicle on a fully comprehensive basis.
You must keep the vehicle in good repair and serviced in-line with the manufacturer’s guidelines either at your own cost or via the Novuna maintenance package. Damages outside BVRLA Fair Wear and Tear guidelines or missing service records could be liable for a charge at the end of the contract.
At the end of the term, you return the vehicle to us and will not have the option to own the vehicle. Early termination, damage to the vehicle outside of fair wear and tear or excess mileage may result in additional charger.