Contract Hire is a rental agreement that allows you to drive a SEAT without needing to own it
Once you have chosen your SEAT and decided on your initial rental, you need to make three decisions that will affect the monthly rental payments:
‣ Your rental payment period
Choose any period between 12 and 48 months
‣ Mileage per year
Choose how many miles you expect to drive each year
Choose to include a service, maintenance and tyres plan in your agreement
Once you have paid all outstanding rentals, you simply hand your vehicle back, subject to fair wear and tear and excess mileage charges.
‣ Contract Hire is ideal for customers simply wanting to pay a monthly rental for the vehicle, change it on a regular fixed period and have no disposal risk
‣ You won’t own the vehicle and therefore won’t have the worry of ownership
‣ There is no additional final payment at the end of the agreement
‣ If you are a business user:
• A proportion of the rentals may be claimable as an expense against taxable profits
• An element of the VAT on rentals may be recoverable by VAT registered businesses*
‣ You can build in a service, maintenance and tyres plan to make budgeting even easier
What happens at the end of my agreement?
At the end of your agreement you just pay any outstanding fees and hand the vehicle back to SEAT Financial Services.
Will I own the vehicle?
No, you are hiring the vehicle and will hand it back at the end of the agreement.
Important information to consider
- Ownership of the vehicle will always remain with Volkswagen Financial Services and it is really important that you keep up to date with your monthly repayments.
- Contract Hire agreements are not designed to be settled early. If you wish to end your agreement early you can request an early termination quote to cover the cost of the remaining rentals.
- If you exceed the agreed mileage set out in your agreement then excess mileage charges will apply. If during your agreement you think you will go over your anticipated mileage then please contact SEAT Financial Services to discuss the options available.
- It is important to keep your vehicle in good condition as you may be charged for any damage that goes beyond fair wear and tear.
An offer of finance depends on certain conditions. Subject to status. 18s and over. T&Cs apply. SEAT Financial Services.
* This note is intended as a summary of the principles of VAT and tax in this complex area. We recommend you seek your own tax advice.