How Contract Hire Works
- At the start of your agreement you decide on the length of your agreement and predicted annual mileage, and pay an advance rental upfront.
- Your monthly rentals are based on the difference between the initial value of the vehicle and it’s projected residual value at the end of your agreement. Therefore, only a proportion of the vehicle’s value is repaid, keeping your monthly rentals lower. As a business customer, you may be able to claim the VAT back on the rentals.
- You can also include the cost of the vehicles maintenance into your monthly rentals, choosing from one of our three maintenance options: Service only, Full Maintenance or Full Maintenance with Tyres. This means the costs are fixed over the term of your agreement, allowing you to budget easier and reduce any unexpected costs. If you prefer, you can choose for a no maintenance option instead.
At the end of your agreement
- We’ll arrange the collection of your vehicle.
- Return the vehicle, subject to it being in line with our Vehicle Return Standards as vehicle condition, excess mileage and other charges may be payable.
- Request an extension should have a new Mercedes-Benz vehicle on order, which will cover you until the confirmed delivery date