Many people prefer contract hire instead of blocking their money in buying a new car. However, many people still think that it’s a wastage of money and they should consider other options. Let’s try to find that why you should prefer contract hire.
If we compare contract hire with purchasing, you don’t have to pay all your savings to drive a new car. Rather, you can make a very little investment and drive a new car to your home. Moreover, you don’t have to worry about the problems, which people usually face when they have to dispose of their old vehicles. Additionally, depreciation cost is not your headache.
Similarly, if we compare contract hire with the car loan, you have to pay a high interest rate on monthly basis when you go for the car loan. Moreover, the upfront payment is also large enough. During the loan period you have to pay every cost related to maintenance of the car, which can be high as well. In case of contract hire, company will bear the maintenance if they agree at the time of contract and excise duty is also included in monthly installments, making your budget planning easy.
In contract hire you can choose the duration of the contract. You can hire a vehicle for few months to few years, choice is yours. You can ask the company to pay the maintenance charges and taxes as well.
These comparisons clearly show that contract hire is better than any other available option. It saves a lot of your time and money too. You can get rid of many problems and can easily plan your monthly budget. However, make sure that you are hiring a right vehicle, according to your needs and you are making an agreement with the right company. Careful moves can save your money.