Comparing contract hire leasing quotes

If you are comparing car, or light commercial van, contract hire leasing quotations from other sources, we do recommend you make sure you are comparing quotes on a 'like for like' basis.

Sometimes a headline contract hire leasing rental can seem too good to be true. There are many ways to make a headline rental appear lower than it actually is. A favourite tactic is to charge you a higher initial rental of six months up front or even more to make the ongoing rental look low.

"Like for like rentals" can easily be compared on Comparecontracthire.com on any of our quote shoppers direct from the FN50 finance companies who provide their pricing to us. All our quotes are based on a three months initial rental, followed by subsequent monthly rentals.

The following is a checklist to ensure you are not paying more than you think you are and each of the items listed below, will change the headline rental you may be looking at. 

 

Things to check when comparing quotes from other sources

  1. Are you comparing on the exact same model?  - Look at the manufacturer recommended list price (basic price plus VAT) to make sure it is a current model year. Non-current models (old stock) may be offered to you, with different specifications to the vehicle you think you are ordering.
  2. What are the payment terms being offered?  How many rentals do you have to put down and how many subsequent payments will you have to make?  - Bigger initial payments, followed by longer payment periods, will make the headline rental look much lower than it actually is.
  3. Is there a document fee upfront and if so how much is it?  - Divide this fee by the total number of rental payments to see how much this adds to the monthly rental.
  4. How long is the contract for? Rentals will vary depending on the term and generally the longer the length of contract, the less expensive the rental becomes.
  5. What is the annual mileage allowance being offered? – The smaller the allowance provided the less your rental will be.  If you choose a lower contractual mileage, than your actual mileage, you will get an excess mileage bill when you send the vehicle back.
  6. What type of contract hire is being quoted i.e. is it with our without full maintenance for example? - Make sure you know what is included in the contract and what is not.
  7. Finally are you looking at the rental with or without VAT? - VAT will be added to any contract hire rental and your ability to reclaim this depends on your own company status i.e. VAT registered or not? If you are a private individual and opting for personal contract hire you should be looking at the rental including the VAT.
Once you have run through this checklist you should be comparing contract hire leasing quotes on a like for like basis and can contact the relevant Company.

When comparing car leasing prices or van contract hire it is important to make sure you compare rentals on a like for like basis.

Many other websites will advertise car and van contract hire leasing rentals that appear "too good to be true" - most usually are as you will find when you check the payment terms.

In order to ensure you are comparing quotes on a "like for like" basis we recommend you use the checklist above. All of the items can make a headline rental appear very low, when in fact you may be paying more money over the full contract hire lease term.

The most common way to make a rental appear very low is to ask for a large initial rental, a longer number of subsequent payments or showing the price at a very low annual mileage allowance. Don't be fooled by this.

All car or van contract hire leasing rentals, compared on Comparecontracthire.com are on a "like for like" basis and all the relevant terms will be clearly displayed for you to compare.