What does contract hire mean?
A vehicle funding arrangement focused on fixed-cost use and return rather than ownership.
The exact meaning can vary depending on the asset, lender criteria, agreement wording and business circumstances.
Related finance product
Contract Hire
Fixed-cost vehicle funding for cars, vans and fleets, with optional maintenance support.
Written by: Hart Asset Finance
Reviewed by: T & L Leasing Limited trading as Hart Asset Finance
Last reviewed: