Lets take a look at the options available when looking into owning a vehicle (contract hire) or fleet vehicles (fleet management), the process involved responsibilities associated with it. We will also look at the different means available for a first time or even seasoned buyer looking to purchase a car.
The path towards owning a vehicle can sometimes be a challenging one to navigate. The different processes involved and the different option can make one wonder what they are doing. We are going to be taking a look at this process from two points of view, that of a person who is looking at getting a vehicle for their own use (or contract hire) and that of an individual/s seeking to open a business that involves multiple vehicles (fleet management). One thing needs to always be kept in mind, and that is this one fact. Although many aspects of the process are the same, the individual journey itself may be different. With that in mind lets continue.
The first step in this process is to figure out the type of vehicle you want (doing research is a good place to start) as well as figuring out the type of features that you want in a vehicle. The next consideration is the price. Ensure that the price falls within your monthly budget (unless you are buying cash in which case this does not apply) is key as you do not want to exceed your budget and throw your finances out of the window. A contract hire is an excellent option if you do not want to purchase the vehicle up front. It allows you the privilege of using the vehicle for
a contracted period of time at the end of which you can return it to the leasing company. This option is also available on a larger scale (fleet management) but this will be discussed later on.
Now if you want to own a fleet (most times this is for a business involving vehicles) the process is similar but there are a few marked differences. A contract hire is also a great tool if you are planning on opening a vehicle based business, especially if done through a leasing agency. Completing this type of transaction through a leasing agency ensures that a favorable leasing rate is attained by the leasing agency which is then passed on to you. In this instance thought has to be given to fleet management and how these vehicles (as a part of your business) will be maintained and administered.
So lets review:-
- A contract hire is an ideal option both for leasing a vehicle for personal use (as it ensures that your monthly cost is fixed and there is no risk to you) as well as a fleet of vehicles for business use.
- If you are leasing more than one vehicle then fleet management may come into consideration.
Check out our website for more information on fleet management http://www.aldautomotive.co.uk and contract hire http://www.aldautomotive.co.uk .