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Contract Hire

Car contract hire is the perfect alternative for individuals who want a quality motor vehicle but do not want to commit to the vehicle for a lifetime.  While there are a tremendous number of respectable contract hire companies in the UK, there are also less scrupulous outfits who will advertise attractive rates to suck you in.  If you are looking for car contract hire, it is important to do your homework.  Look past low payments and delve deeper into your purchase to make the best possible investment of your hard-earned money.

 

Are the Monthly Installments Too Good to Be True?

 

If you have started comparing monthly payments, you may have stumbled across some vehicles that are priced significantly lower than others are.  Before you run to the leasing company, understand why these vehicles are priced suspiciously low.  The key to uncovering the truth is determining how the installments have been calculated.  The typical contract hire quote will require a three month down payment and approximately 24 to 36 monthly installments.  One way companies can attract interest is by advertising 3 installments in advance and 47 monthly payments.  Other companies will advertise low monthly payments, however, they require 6 months in advance.  When you consider the payments and the advance, you will discover that these suspiciously low prices will end up costing you more over time. 

 

Mileage is Important

 

Most UK leasing companies will set a limited number of miles per year.  The standard mileage limitation for standard contract hire contracts is approximately 10,000 miles per year.  If you know you require more mileage, you will have to sign a contract with higher miles and a higher fee.  Choosing to sign a contract that charges you more in advance is a much more affordable approach than going over your miles when you turn your vehicle in.

 

Will You Be Charged For Cancellation?

 

A common problem consumers run into is being charged for contract cancellation when the leasing company cannot supply the vehicle by the due date.  Not only does the contract hire company have your deposit, they will not return your entire deposit if you want to cancel your order because the company did not set the right delivery date.  If you are signing a contract, make sure you do not sign a contract that will penalize you because of the mistakes the company made.  Also, make sure you can recover your deposit on the delivery date if you have not received your vehicle.  There is nothing worse than waiting for your money because the company is trying to take advantage of you.

 

Always read the fine print when you are signing a contract to lease a vehicle.  There are a number of respectable companies throughout the UK.  The key to signing a good contract is finding a good contract hire company.  Consider the tips above, and do not let the low-priced advertisements fool you.

 

At Apex you don't need to worry about any of the above, with a fixed mileage term, no upfront payments, road fund licence included and no servicing costs, its never been easier to set out a budget for your motoring costs.