The Contract Hire payment plan allows you to hire vehicles as opposed to owning them. This way, the concern of issues such as residual values or selling the vehicle when the finance term is up is alleviated.
How Contract Hire works
A Contract Hire agreement from Volkswagen Financial Services is for business users only and can run for a period between 1 to 4 years.
Contract Hire is classified as an operating lease for current taxation purposes; therefore it is regarded differently to 'purchase' contracts, so you may benefit from certain tax advantages. Also, if you are a VAT registered business, a proportion of the rentals may be tax deductible. Your financial or tax advisor should be able to advise you if this applies.
With Contract Hire, you'll now receive the complimentary Driverline service that provides you with a single contact number for all your motoring needs.
An example video from one of our brands Audi, explaining Audi Contract Hire.