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Finance options for small businesses with fleets of 1-24 cars

The provision of company cars is one of the most expensive business overheads after salary and pensions for employers, so it is important to select the appropriate funding method. There are a variety of these, each of which has its features and benefits depending on a business’ operational objectives, accounting and cash flow requirements.

Here are some of the options:

Outright Purchase
The purchase of vehicles, using company or borrowed funds, for ongoing use in a company’s operations, is usually regarded as an acquisition of a fixed asset for accounting purposes. As such, they would be recorded on the organisation’s balance sheet.

Contract Hire
Contract hire frees you from the administrative burden of owning your company car fleet, enabling you to focus on running your business. 

Business finance made simple

We understand that every business is different and every fleet is unique. So we see fleet finance differently, helping you create a simple, flexible lease agreement designed around the needs of your business.

We make it possible through contract hire.

Contract hire can be one of the most cost-effective types of company car finance. Through affordable monthly payments, it provides the benefits of SEAT fleet cars with none of the cost or complexity associated with ownership.

As your fleet evolves, contract hire agreements are easy to adapt to the changing needs of your business. Some can also include costs such as tyres, servicing and maintenance.

Other benefits of contract hire include:

No upfront investment
Pay a monthly fee to operate your SEAT fleet cars with none of the costs associated with ownership, freeing up capital to invest in your business.

No unexpected costs
Including servicing and maintenance turns the cost of your fleet into predictable monthly payments, which helps with budgeting and managing cash flow.

No disposal risk
Any depreciation in the value of your fleet is included in your monthly payments. Once all rental charges have been paid, simply return your company cars and we’ll do the rest (subject to excess mileage charges and fair wear and tear).

Attractive cost-savings
A proportion of your monthly rental may be claimable as an expense against taxable profits. For some businesses, VAT may also be recoverable*.


How to choose a contract hire agreement
  • Decide on a replacement cycle.
  • Choose any period between 12 and 48 months.
  • Use telematics data to estimate your annual mileage.
  • Consider how your SEAT fleet cars will be used and how many miles you expect company car drivers to cover over 12 months.
  • Choose whether to include other related costs.
  • Make it easier to keep track of the cost by adding a servicing, maintenance and tyre plan to your agreement.
Good to know

1. With contract hire, your business doesn’t own your SEAT fleet.
Ownership remains with Volkswagen Financial Services. So it is important to keep up with your monthly payments.

2. Contract hire agreements are not designed to be settled early.
If you want to end your agreement early, please get in touch to request a quotation.

3. An accurate estimate of annual mileage could reduce the cost of your fleet.
If you exceed the mileage set out in your agreement, excess mileage charges apply. If you think you will go over your anticipated annual mileage, please get in touch to discuss how we can help.

4. Your business is responsible for chargeable repairs.
 ‘Chargeable damage’ means any damage not covered by our fair wear and tear policy.

* Business must be VAT-registered. The proportion of VAT recoverable depends upon whether the vehicle is available for private use.

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