Budgeting certainty with service flexibility
Contract Hire from GE Capital is more than a funding plan for your fleet. It is an operational solution that delivers specialist expertise in acquiring, maintaining and ultimately disposing of your vehicle.
Flexible and fair
Our Contract Hire solution is tailored to fit your company’s Fleet Policy, along with financial, personnel and procurement requirements. As the Contract Hire rate represents the true operation cost of a vehicle, the rental amount can be used to define a more flexible yet fairer car policy for your company.
A complete solution
Running a vehicle fleet represents a major cost burden for any business, from the original purchase, life-time depreciation and on-going maintenance through to the financial risk of disposal and the often underestimated cost of administration.
GE Capital, Fleet Services manages these issues professionally and cost effectively, leaving you with more time to devote to core activities.
Budget with certainty
A fixed monthly amount covers agreed time and mileage limits allowing you to budget with complete certainty whilst avoiding the risks inherent in ownership. At the end of the agreement the vehicle is returned and any risk on the vehicle’s disposal is borne by GE Capital.
The built-in benefits of contract hire
- Fixed monthly payments allow accurate budgeting and forward planning
- Off balance sheet borrowing improves key financial measurements
- Minimal capital outlay reduces impact on cashflow
- All depreciation risk is eliminated
- Financial risk on vehicle resale disappears
- 50% of the VAT on the capital element of the lease rental can be recovered along with 100% of the VAT on the service element of the lease rental delivering a financial benefit over Outright Purchase
- Interest rates are fixed
- Management reporting and pro-active fleet consultancy
- Reduced costs of fleet administration
- GE Capital, Fleet Services purchasing leverage
In practice, most Contract Hire arrangements are undertaken with a maintenance package which provides cover for servicing, mechanical repairs, tyres, batteries and exhausts.
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