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Contract Hire for Business Fleets in detail

Genesis Finance Business Contract Hire provides hassle-free and cost-effective access for Limited Companies (LTDs) and Limited Liability Partnerships (LLPs) to brand new Genesis vehicles over a period of 18 to 48 months.

All agreements include road fund licence, full manufacturer’s warranty and the manufacturer’s comprehensive breakdown cover.

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Reduced Financial and Administrative Burden

Business Contract Hire – also known simply as ‘Contract Hire’ – is a comprehensive and cost-effective fleet management product designed to minimise the financial and administrative burden on your organisation. Genesis Finance Business Contract Hire will handle the funding and administration of buying, selling and even maintaining your fleet (vehicle maintenance can be included in your monthly rental as an option), which can be billed on an itemised monthly invoice under our Master Hire Agreement.

  • Significantly reduced financial and administrative burden with fixed monthly billing including optional maintenance.
  • Master Hire Agreement with monthly itemised invoice.
  • Mileage pooling available

Minimised Cashflow Impact

With Genesis Finance there are no administration fees or hidden costs and your business pays a fixed monthly fee allowing for minimised cashflow impact and controlled budgeting as your company will not be faced with financing an outright purchase or be exposed to the residual value risk of the vehicles.

  • No administration fees or hidden costs.
  • No exposure to residual value risk of vehicles.
  • Minimised cashflow impact and freed up capital versus purchasing outright.
  • Additional credit line for your business.

VAT reclamation available to VAT registered companies

VAT registered companies are able to reclaim 50% of the VAT on the finance rental where employee private use is permitted, or 100% if the vehicle is solely for business use. 100% of the VAT on the optional maintenance rental can be reclaimed.

Tailored Contract Hire parameters for each vehicle

To suit the need of drivers in your business, each vehicle can be tailored by initial rental amount, term, mileage and the inclusion or exclusion of a maintenance agreement. To facilitate even greater flexibility under the Master Hire Agreement, you can select vehicles to form a ‘Mileage Pool’ which can enable excess mileage charges for returned vehicles to be offset by under mileage off-hires (subject to terms of the agreement). Formal and informal contract extensions are also available upon request.

Straightforward end of contract process

At the end of your agreement period, you are not responsible for the disposal of the vehicle. You will be contacted to book a collection appointment where you simply return the car without further cost, providing it has not exceeded the agreed mileage and the condition is reflective of its age and mileage. You will be emailed a digital version of the inspection report. There is no option to own the car at the end of the contact.

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