This is leasing a vehicle for a fixed period of time at a fixed monthly rental.

a Lease

a finance agreement where an asset is hired, usually for a fixed term of two or three years, rather than for the life of the asset

Fleet offer, off-balance sheet lease agreement

A system that allows drivers to lease their car by paying a monthly tariff. Mostly used by business users. Also known as leasing.

An 'Off Balance Sheet' method where a company hires a vehicle for a specified period and makes regular payments. The dunder retains ownership and all of the associated risks.

Rather than buy the car you rent the car over a set period

Rather than buy the car you rent the car over a set period

In a contract hire agreement, Nationwide Vehicle Contracts provides a vehicle for a determined period of time (contract term) and with an upper limit of how far they can travel (annual mileage). The c [..]

Contract hire is the term used to describe the type of leasing agreement contract Motability offer. This lease offers worry-free motoring with a new car of your choice every three years.

A fixed term agreement for the rental of a car at a pre-agreed fixed monthly cost over a pre-agreed period and mileage (eg 36 months/60,000 miles). The car is returned to the funding company at the en [..]

This is a way of hiring an item of large capital value where the maintenance is the responsibility of the company that hires out the item. A fixed monthly figure is paid and the item can be sold, usua [..]