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Contract Hire & Van Leasing

Welcome to Central Contracts!

Welcome to the Central Contracts website. We are one of the UK’s leading car leasing websites, with a wide range of high quality vehicles and leasing options to choose from, at incredibly competitive prices.

Here at Central Contracts, we have made it our mission to offer a great variety of top-end vehicles and flexible lease agreements, so that no matter what your needs are, we can accommodate them. We have coupés, convertibles, hatchbacks, estates and saloons from various reputable car manufacturers, and offer them all at affordable prices. We will not rest until we have found you a great car at a great price!

The contract options we offer our customers include:

  • Hire Purchase
  • Lease Purchase
  • Finance Purchase
  • Personal Contract Purchase
  • Business Contract Purchase
  • Personal Contract Hire
  • Business Contract Hire
The specifics of each of these options are detailed further below

All of our vehicles are acquired directly from the manufacturer, so whether you are looking for a family Toyota or a sporty BMW, you can rest assured that the car you are getting is of the finest quality and performance capabilities. Our fantastic team has a wealth of experience in offering and advising options, so they will ensure that you receive the deal which is best for you and the most cost-effective.

We will listen closely - from our first point of contact - to your wants and needs and do everything we can to make sure you get what you want. Throughout your entire contract we are there to assist and advise you whenever you need it, to ensure you get the best car leasing experience out there.

We offer our enormous range of high-end vehicles in a wide range of colours to suit everyone’s tastes, and offer added extras to further enhance your experience. You will find that our website is very easy to navigate around, with a list of manufacturers down the left hand side and a search bar in the top right-hand corner. Give us a call as well if you would like any further clarification - our helpful and friendly team will talk you through every step of the way.

Whether you want a small city run-around vehicle for two years or a corporate fleet of cars for five years, we offer you the best value possible as we want your money to go further. Unlike purchasing a car outright, contract hire and leasing does not require a massive deposit, so your budget will stretch that little bit further.

The main benefits of Contract Hire and Car Leasing include:

  • No need to worry about the depreciation of the vehicle or the sell-on value
  • Low initial deposit
  • Low monthly payments
  • Flexible agreements

If in some way you find the vehicle you want at a lower price elsewhere, we will try to match their price - if not beat it outright. The chances are that by calling us and asking, we can accommodate you - so do not hesitate to pick up the phone and find out. One of our helpful members of staff will be happy to talk to you.

Contract Hire (Business and Personal)

About Contract Hire

Contract Hire is the most popular type of leasing agreement in the UK; it is sometimes alternatively referred to as an 'operating lease'. Here is the gist of it:

  • You only pay to use the vehicle
  • At the end of the agreement, the car is simply handed back
  • Fixed mileage (your estimated yearly mileage is calculated and your monthly payments are partly based on that - so try to be as exact as possible or you could end up paying more than you need to)
  • Fixed long-term rental agreement

The main advantages of Contract Hire include:

  • Low initial deposits
  • Cash flow improvements for your business
  • Fixed cost motoring
  • Flexibility with the payment options
  • No financial risk from having to dispose of vehicles
  • Full maintenance packages so you don't have to worry
  • Fleet discounts
  • You can claim back 100% of the VAT on maintenance
  • You can claim back 50% of the VAT on finance

There are some disadvantages of Contract Hire, though, which you must bear in mind:

  • Ending your contract agreement early can prove expensive
  • The vehicle must be well-looked-after and returned in a suitable condition
  • You must have fully comprehensive insurance
  • You will not own the vehicle at any point of the agreement, nor will you have the option to buy it at the end

Additional information on Contract Hire

Contract Hire is definitely the most favoured type of car leasing in the UK, because it allows you to drive a vehicle you like (one you may not have previously been able to afford), whilst paying low initial deposits and low monthly payments.

Low deposits mean that you can gain access to your dream car quickly, and here at Central Contracts we will always offer you the earliest delivery date possible - all the while keeping you fully informed on the progress of your order.

Once your contract terminates, you do not have to worry about selling the vehicle on at a much depreciated price or disposing of it - you simply hand it back to us, and if you want you can take on a new contract.

A vehicle's depreciation in value is one of the biggest costs involved in motoring - but with contract hire you do not have to worry whatsoever. Everyone can benefit from this too - both businesses and individuals. These deals are easy to manage and prove much more cost effective in the end.

Contract Hire is perhaps the most flexible choice in car leasing, which is why it is so popular with individuals and businesses alike. Here at Central Contracts you will find the payment plan which suits your circumstances and requirements perfectly, and there is opportunity to adjust your payments if your contract increases in its duration (or if you put down a large initial payment) - the longer the lease, the cheaper the deal.

When you enter into a contract agreement with us, you can select your preferred annual mileage limit - i.e. you will tell us how many miles you think you will drive over a 12-month period, meaning that your monthly payments are based partly on that. This saves you money if you stick to the limit you have estimated and don't exceed it, as you will only pay for the amount of miles you do. If you do exceed it, however, it can be quite costly for you - so try to be as accurate as possible when calculating your expected yearly mileage.

If at any point you believe you may have underestimated your mileage, you can adjust your contract accordingly, though that will obviously incur a slightly bigger monthly rental cost.

Central Contracts can implement a maintenance service into your contract, meaning you will pay a monthly charge for this, but you will not have to worry about it again. The maintenance option normally covers the general servicing and routine maintenance, as well as tyres, exhausts and batteries.

Business Contract Hire and Personal Contract hire are very similar, the difference between the two being, of course, that the former is for the use of businesses only. If your company needs a fleet of vehicles, we can organise this, and can offer discounts - call us up and discuss this with one of our team members.

Contract Purchase and Personal Contract Purchase

This is a fantastic option for people who want to purchase a new car and pay for it in a much more manageable fashion than buying a car outright. These payments are made via monthly instalments which are not subject to VAT. There is an optional service package (i.e. the maintenance) on which VAT must be paid, however - but that package is optional.

Advantages of Contract Purchase

  • Payments for the car are made by fixed monthly instalments
  • The initial deposit is very low
  • As the car you will receive is brand new, it will be more fuel-efficient than an older one
  • You can refinance the balloon payment
  • No need to worry about the car's depreciation if you do decide to walk away in the end
  • The initial low payment means you can have access to a vehicle you may previously not have been able to afford
  • There are servicing and maintenance options available
  • Upon the inception of the contract, the finance company agrees a fixed resale with you
  • Once the contract expires, you can just return the car if you want
  • Much more cost-effective motoring

Additional information on Contract Purchase

Contract Purchase gives you more freedom of choice once the finance agreement comes to an end. Car leasing allows people to drive cars which they were unable to afford previously, due to the cost-effectiveness of the plan - with its low monthly payments and low deposit.

When the contract comes to an end, you can either make the balloon payment so that the car is yours, refinance the agreement so that you can continue with that car, or hand the vehicle back and walk away with no more obligation.

Upon the creation of the contract, customers make their initial payment and then pay the fixed monthly payments which are put in place, then at the end of the contract you have the option of paying balloon amount (which is sometimes referred to as "generated future value" or GFV for short).

When the contract period terminates, you have four basic options:

  • Give the vehicle back to the funder, provided the car is in suitable condition for its age and you have not exceeded the set mileage limit
  • Make the balloon payment and keep the vehicle (or refinance it - either way, once the balloon payment is made, the car is yours)
  • Trade the car in at a dealership in part-exchange for another vehicle - if the GFV is less than the trade-in value, you can put the difference towards a deposit
  • Sell the car privately if you think it is worth more than the GFV - any profit you make on it, you keep

In order to get the best monthly rates, you should look at longer contracts as they are cheaper per month, or put down a bigger deposit so that your monthly rates are thereby lower, and also try to calculate your estimated annual mileage as accurately as possible, so that you are not paying for more miles than you need to.

Finance Leasing

Finance Leasing would suit sole traders, partnerships, companies and VAT-registered businesses. The way this agreement works is simple: the finance company owns the vehicle and, once the contract has ended, they keep it - so, basically, the vehicle is hired out for a set amount of time. Finance leasing would suit companies which require a vehicle (or several) quickly, but would rather not make large initial payments.

Advantages of Finance Leasing

  • Low monthly costs
  • Balloon rentals can be applied towards the end of the contract to reduce the monthly payments
  • Customers can claim 100% of the VAT back on commercial vehicles and 50% on cars.

Disadvantages of Finance Leasing

  • You will never have the option of owning the vehicle
  • The vehicle is sold to a third party ultimately
  • There are operating risks associated
  • Interest rates may vary considerably

Additional information on Finance Leasing

The monthly payments are calculated by considering the initial cost of the car, its value at the end of the contract, the length of the contract, and the size of the balloon payment. It is worth noting, though, that finance leasing still means there are fixed mileage restrictions. You will, however, have full use of the vehicle throughout the length of the contract.

Lease Purchase

Lease Purchase is ideal for non-VAT-registered customers who would eventually like to take ownership of the vehicle they are leasing, but do not have the money to fork out for it right away.

You can put down a larger initial payment if you wish, and this will massively reduce the monthly payment amounts. The monthly cost is calculated by the difference between the retail value and the depreciation value - therefore purchasing a car which will hold its value well will work in your favour in the long-run.

Lease Purchase differs to Contract Purchase, as the former gives you the option to purchase the car at the end of the finance agreement, whereas with the former you have to agree to purchase the car at the end. For this reason, lease purchase is only suitable for customers who are absolutely certain that they want to own the vehicle at the end of the contractual period (balloon payments must be paid off too).

Hire Purchase

Hire Purchase essentially gives the customer more options at the end of the contract agreement. Hire Purchase agreements can be drawn out over several years. The longer the contract is, the lower the payments are - but the higher the interest rates (ATR rates are generally fixed throughout the whole of the contract). These agreements generally last between two and three years, but sometimes you will be allowed to finance the car over a longer period of time, so that your monthly payments are kept low.

Advantages of Hire Purchase

  • You are able to afford a brand new car
  • Your deposit is low
  • Low monthly payments
  • Fixed APR for the whole of the contractual period

The customer simply selects the car they would like to finance, and then the application for the Hire purchase is sent to the finance company, which in effect requests a loan from them. If the finance company agrees to it, they pay the dealership the money for the car on your behalf, and you are the registered 'keeper' of the car - whilst the finance company is the legal owner. Once you have made all of your payments, you are then the owner.

Who would Hire Purchase suit?

Hire Purchase is ideal for someone who wants a new car but would prefer to pay for it in a more affordable way - this is the option people go for if they want to purchase a vehicle but not by purchasing outright. Also, this allows customers to gain access to cars which would previously have been beyond their means.

Hire Purchasing also benefits businesspeople, as once you own the vehicle it is classed as an asset of your company or business, and the interest tends to be lower than the interest on a bank loan would be.

If you'd like to find out more about the leasing options available through Central Contracts, please contact us on 0800n 567 0121 right away, or email us.

All prices shown on this page are for Business Users only. These prices are subject to VAT at the prevailing rate

*7-14 day Delivery subject to Availability, Financial Approval and DVLA first registration requirements.

Central Contracts (S.O.T.) Limited is a credit broker not a lender

Central Contracts (S-O-T) Limited is authorised and regulated by the Financial Conduct Authority

Central Contracts (S-O-T) Limited Central House. Trentham Business Quarter. Bellringer Road. Stoke-on-Trent. Staffordshire. ST4 8GB
VAT Reg No. 715 25 1558
Company Reg. No. 3635778 Financial Services Register No. 677877 ICO Registration Number Z7112215