Lease Hire is a vehicle financing option where you reap all the benefits of leasing a vehicle for a fixed term but where you manage, maintain, tax and insure the vehicle.
The vehicle is handed back to Walden Leasing at the end of the term. Excessive wear and tear and excess mileage is charged on termination.
Off Balance Sheet Funding
Under contract hire your vehicles do not appear on your company’s balance sheet as they are owned by us. The removal of capital assets from your balance sheet can enhance your company’s gearing (borrowing) ratio.
Fixed monthly cost
A fixed monthly payment is charged over the life of the contract and the initial up front payment is normally just three month’s rental. Fixed monthly costs for the period of the contract makes budgeting much easier. In turn more accurate budgeting improves your company’s cashflow.
Reducing your Financial Risks
Managing the risks involved in running a vehicle fleet is all important and that’s exactly what you can do when opting for contract hire. Walden Leasing takes all the risks involved in everything from residual values and maintenance to interest rates. That leaves you to simply pay the monthly contract hire costs, insurance and to fuel the vehicle.