Contract Hire

Contract Hire is now one of the most common methods of company vehicle financing. Leasedrive Velo takes the responsibility for vehicle acquisition, disposal, depreciation, funding, servicing, maintenance, repair and administration, leaving the client more time to focus on their core business activity.

Contract Hire is an ideal product for companies who don't want the operational risk of running their own vehicle fleets, and who are looking to reduce the administrative burden of buying, servicing and disposing of their vehicles.

A client (lessee) simply hires the vehicle from Leasedrive Velo (lessor) for a pre-determined period at a fixed monthly rate. Leasedrive Velo retains ownership of the vehicle and the associated risks and at the end of the contract the vehicle is returned to Leasedrive Velo. The rate can be inclusive or exclusive of maintenance.

Contract Hire can be combined with a number of other optional services provided by Leasedrive Velo, such as:

  1. Car policy management
  2. Client services
  3. Driver services
  4. Accident management
  5. Fuel card management

Key Features

  • Off balance sheet
  • VAT efficient
  • Fixed cost with ease of budgeting
  • Reduced financial risk
  • Reduced administration
  • Fixed or "pay on use" maintenance
  • Fixed or "pay on use" relief vehicles
  • Road side assistance service
  • Various payment profiles

System

Leasedrive Velo provides an online quote to order system - Drive:Manager™ enabling drivers/Fleet Managers to view vehicle specifications and prices online, configure and order a vehicle using their company's rule set to determine entitlement. The system also provides the driver with the facilities to locate service outlets and book their vehicle in for work online. Drive:Manager™ is password protected and, as it is internet-based, it is available 24 hours a day, 365 days a year.

The rentals and accounting procedures are managed through ALFA, a state of the art asset finance system providing a robust finance and billing platform. Detailed interactive management reporting is available utilising Info:Manager™.