Mon to Fri: – | Sat: –
While Business Contract Hire (BCH) - aka a business lease - is the most common way to secure a vehicle with Select Car Leasing, other finance options are available. Just speak to one of our expert consultants to find out more.
And here we explain everything you need to know about one of those options: Business Hire Purchase (BHP), which is a way to ultimately own a vehicle by making monthly, bite-sized payments.
Business Hire Purchase (BHP) is a common method of financing a vehicle for businesses, and it sits apart from the business leasing, or the Business Contract Hire (BCH), model.
The clue as to BHP’s main feature is the word ‘Purchase’ - as unlike leasing, you get to own and keep the vehicle once all payments have been made, without having to pay the full purchase price upfront. It allows for the gradual ownership of an asset, spreading the cost over a number of years and making payments more manageable.
A business makes regular payments over a fixed period, typically monthly. Those payments cover the entire cost of the vehicle, as well as interest charges.
If you'd like to speak with our friendly team about business vehicle leasing, simply call 0118 920 5130 or email us at: enquiries@selectcarleasing.co.uk
If you're thinking about business car leasing, we have a collection of informative guides on all aspects of business leasing to make the process as simple as possible.
More and more businesses now choose to lease rather than buy their cars, vans and fleet vehicles, and this number continues to grow year on year. Today, corporate leasing alone (not including business types such as SMEs, the self-employed and sole traders) accounts for over 2 million vehicles in the UK.
If you’re unsure whether it’d be better for your business to lease its next new car or instead to buy it, then read on because our business vehicle leasing vs. buying guide explains everything you need to know and consider before you make this important decision.
Business car and van leasing offers many distinct benefits, however, there are some situations where it may not be right for your business just now. To help you decide, we’ve put together a list of factors to help point you in the right direction.
Information is provided as a guide only. Select Car Leasing cannot be held responsible for any personal or business decisions made as a result of information provided in the guides. As with all aspects of taxation, it is the responsibility of individuals and businesses to understand the rules and regulations and act accordingly. As personal and business circumstances can vary, it is also advised that you take professional accounting advice before making a final decision.
