For business and personal users who don’t want to own their vehicle, contract hire provides convenient way of adding SsangYong to your fleet.
Payments are kept lower than hire purchase agreements as the value of your vehicle (at the end of your contract) is offset, meaning you only pay for the time you are using it.
Due to an agreed contract length, contract hire payments are much lower than a normal hiring rate and for VAT registered businesses, the VAT can be claimed back which is why business contract hire rates are quoted excluding VAT.
SsangYong Contract Hire monthly prices can be quoted to include or exclude maintenance so you can always keep track of your vehicular maintenance budget. Contract Hire maintenance packages often exclude tyres. Most contract hire agreements include road tax so with a maintenance package attached, the only running costs you need to cover (over and above your monthly payments) are tyres, fuel and insurance.
SsangYong Contract Hire is the finance option of choice for businesses who want to keep their fleet costs within a tight budget. All new SsangYongs come with a limitless 5-year warranty so you can be sure of their reliability and are covered if the worst happens.
Most personal customers opt for the Personal Contract Purchase scheme instead of contract hire agreements as it offers the flexibility in case they choose to own the vehicle sometime in the future. Please note: on a SsangYong contract hire agreement customers will never own their vehicle.
SsangYong Contract Hire rates are often quoted with a rental amount (based upon the term, likely annual mileage and whether customers opt for included maintenance) and a certain amount of advance payments are needed up front (in place of a standard deposit). For example, if you see a SsangYong contract hire profile with £199 +VAT 3×35 (6K), this means that the monthly payments are £199 +VAT over 35 months with 3 equal payments of £199 +VAT (597 +VAT) to be paid upfront.
Advantages of SsangYong contract hire agreements
Your fleet of vehicles is kept up to date with the ability to replace your vehicle after your term on a new contract
Ideal for high-mileage users such as taxis, farmers and logistics firms
Road tax is often included
VAT can be claimed back (if you are VAT registered business)
Monthly payments can be kept low
Maintenance package can be included.
Disadvantages of SsangYong contract hire agreements
Customers will never own the vehicle
Mileage used in excess of the agreed annual amount is chargeable on a pence-per-mile basis
No flexibility in the agreement unlike Personal Contract Purchase
For more details on financing your next SsangYong car or commercial on Contract Hire, contact our specialists today. If you are sure that SsangYong Contract Hire is for you, you can use the online finance application form below to apply today.
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