What Is Business Contract Hire? A Simple Definition

Business contract hire is an agreement which allows a company to hire a vehicle at a fixed rate for an agreed period of time. (As the name suggests, it is strictly for business’ only.) The payment plan is an initial deposit followed either by 24, 36 or 48 monthly rentals in almost all cases. These [...]
Finance Lease

What Is Finance Lease? A Simple Definition

Finance lease is only available to businesses, not private individuals. VAT status is not important; your business can be either VAT registered or non VAT registered. It is a very flexible agreement and offers a wide range of options to suit the business needs. In the agreement, you can:   Set your deposit amount 3, [...]
hire purchase

What Is Hire Purchase? A Simple Definition

Hire purchase is an agreement which allows you to finance the purchase of a vehicle over an agreed period of time. It is purely a finance package and does not include maintenance or other added-value services. The lessee pays an initial deposit and then a series of monthly payments for the term of the contract. [...]
Personal Contract Hire

What Is Personal Contract Hire? A Simple Definition

Personal contract hire is a long term vehicle rental agreement, similar to business contract hire but set up for private individuals. The payment plan is an initial deposit (minimum of 3 payments) followed by either 24, 36 or 48 monthly payments. These are not payments towards ownership; they are for the vehicles hire. At the [...]

Business & Personal Contract Hire: Fair Wear And Tear Guide

When you take on a hire agreement, you will be contractually obliged to return the vehicle in an acceptable condition to AMI. If you’ve hired a vehicle for a long period of time, we understand there will be a certain degree of fair wear and tear when the vehicle returns. If you've not hired a [...]
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