Why Contract Hire
Contract Hire is today’s most cost effective way for business in Ireland to fund your fleet. Whether it is for a Company Car or Light Commercial vehicle and with either a Fleet of 2 vehicles or 100 vehicles, Joe Duffy Ford have the fleet solution for you.
Contract Hire is a fixed-cost form of motoring. For a set monthly payment, you get the use of a vehicle for an agreed duration and mileage that suits your business. The Rental takes into account the vehicle’s price when hired, its forecasted mileage during the term of the contract and its estimated residual value at the end. For companies this finance product is treated as an off balance sheet asset and therefore is treated as a rental rather than a depreciating asset. There is no risk at the end of the term as the mileage and maintenance contract have already been agreed in advance.
Most vehicles will loose value from the moment they leave the showroom. In a Contract Hire deal, you return the vehicle at the end of the contract period and Joe Duffy Ford take the residual value risk. As maintenance and servicing have been included you are also protected from any unseen rise in these costs.
The main benefits are: