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Thread: Contract hire?

  1. #1

    Contract hire?

    Well, our third LR Discovery has come to the end of its road. We just wear them out.
    Now, before anyone starts on with a load of Landy jokes, I'll just say that we've found them to be extremely practical, and ideal for our situation - part family car, part work vehicle. But we do work them hard and do a lot of heavy towing and I'm not that hot on maintenance.
    Trouble is, what to do now. MOT runs out on Tuesday, and the next few weeks are our busiest with sheep sales, so need to be able to tow. To put this Disco back on the road would cost substantially more than the vehicle is worth, and would take a couple of weeks to do, so that's a non-starter, and there's no funds in the kitty for a replacement vehicle of any sort.

    So, I'm looking at contract hire options. Seems a no-brainer in a way, as the monthly payments would total in a year no more than we've currently been paying in mechanics bills just to keep the disco going. Plus the benefit of a brand new vehicle - no MOT etc.
    Trouble is, most of the suitable vehicles I can find available on these schemes at affordable rates are double-cab pick-ups, which I can't stand! But that's a minor point - I'm sure I could get used to driving a horrible looking vehicle if it wasn't costing me too much!

    Would be interested to hear of anyone else's experience of sourcing their vehicles in this way - good points / bad points, and any recommendations.

    Also, what about finance lease (where you end up owning the vehicle)? I don't think this is really an option for me as I wouldn't be able to afford the final payout, but would be interested to hear the pros and cons, and how it compares financially with contract hire.

  2. #2
    Check the small print depending how many miles u o a year, if over 10-12K got quite dear. Also depending how ruff u are with them bashes/scratches etc i think they can fine/charge u for it.

    Did look at them but i thought it was a dear way of having 1 esp if high mileage

  3. #3
    I have been contract hiring vans and 4x4's for 9 years. The positives for me are a new vehicle every 3 years, reliability of a new vehicle, no MOT, no depreciation and fixed monthly costs. The down sides are. ....Estimate your yearly milage correctly as extra miles will cost more at the end of the contract and keep the vehicle damage free as this will cost when you return it.

    I recommend giving Tim at Aire vans a call 0113 225 9047 he has given me the best deals (and I've shopped around) he will also give you the info on contract hire compared to finance lease.


  4. #4
    As above and secondly do the have what you're after kicking about ready to contract hire within a week ? My experience is usually not my pals been waiting months for his landy pick up .

  5. #5
    Quote Originally Posted by countrryboy View Post
    Check the small print depending how many miles u o a year, if over 10-12K got quite dear. Also depending how ruff u are with them bashes/scratches etc i think they can fine/charge u for it.

    Did look at them but i thought it was a dear way of having 1 esp if high mileage
    Correct. We got seriously stung when we tried to hand back three vehicles that an ex employee had taken on lease. The small print (which he clearly hadn't read) was a minefield. They wouldn't even let us buy them which would have been cheaper than paying the excess mileage, paying the remainder of the lease payments and having them fully refurbished just to hand back the keys!

  6. #6
    The quote i got for doing 25K a year was massive u could of paid it up on finance for a lot less, and atleast u would own it at the end. I struggled to see why anyone could afford a lease at the money i was quoted.

    Could u hire 1 for the busy period?? SHB hire 4x4's not sure wot other companies do

  7. #7
    I lease everything now

    Currently I run:

    Jag XF 3.0V6 Lux costing 380 a month 10K a year

    Toyota Aygo 125 a month 10K a year millage

    Fiat 500 1.2S 90 a month 10k a year

    Nissan NV200 Tekna van 170 a month 10k a year

    Excess millage on them ranges from 5p (Fiat500, Jag Toyota) to 15p (Nissan van)

    So 10K a year excess millage will cost 500 a year? Not a big deal and doing it this way you pay for exactly the miles you do

    Every way i did the math I was better off. My last car purchase was 33,000 on a Shogun which I sold four years later for 9000

    So I lost 24k in four years or 500 a month ignoring any money lost on fronting the 33K

    I can lease a LOT of car for 500 a month

  8. #8
    Do BASC have any deals, along with their purchase scheme?


  9. #9
    Thanks for all the replies - very helpful.

    Chasey is right - the sums do make sense. Our current Discovery is a 2003 TD5. We paid 7000 for it four-and-a-half years ago, and it's cost getting on for 2000 per year to keep it going (spares, repairs, servicing, MOT etc). It's now worthless (unless anyone wants it for parts), so our motoring has cost us about 280 per month.
    For 165 per month we could have a brand new LR Defender for 2 years, which would satisfy all our towing needs, not require MOT, and road tax is included in the price. What's not to like?
    The mileage might be an issue - we're currently doing 18k in the Disco, and the hire would be based on 10k. However, we've got a little van we use as a runabout, so we could make more use of that to help keep the mileage down.

    Countryboy - the fact that we wouldn't own the vehicle at the end is something I see as an advantage, not a disadvantage. Owning a vehicle is a massive drain on our finances. The depreciation alone would be eye-watering if we were to buy a vehicle on a finance deal. And you could bet you bottom dollar the ******* thing would break down the day after it became officially mine! I don't have much luck in that respect.

  10. #10
    I'm seriously thinking about PCP. I've got a Disco and a Peugeot van. Neither of them great shakes. The running costs of two old and tired vehicles is steep especially as one is a commercial and the other a car so they require separate insurance policies.
    I'd go for a single cab 4X4 pickup with a hard top. It would have as much if not more load carrying capacity as my van (though with a higher load height) and cover all my towing and 4X4 shooting needs. I can't stand double cab pickups. They're just very big, heavy thirsty cars with a boot with no lid on it. A covered single cab would be genuinely useful. But it looks as though that means an L200. Quite fancy the new Ford Ranger or the new Izuzu but everything except L200s seem to be double cab.
    My typical mileage is about 15K. I wouldn't buy it. I replace it or hand it back. My reservation apart from the mileage is that as a builder my vehicles don't stay clean. The cab gets particularly dirty and its unavoidable. Wondering how much that would cost me.
    Last edited by Finch; 05-09-2015 at 21:41.

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