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Porsche Contract Hire

Porsche Contract Hire

Porsche Contract Hire is ideal for business customers if you simply want 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, you just have to hand it back at the end of your agreement with no additional final payment.

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.

*The above note is intended as a summary of the principles of VAT and tax in this complex area. It is not intended to be and should not be construed as constituting tax advice and we make no representations, warranties or guarantees, whether express or implied, that the content is accurate, complete or up-to-date. Volkswagen Financial Services (UK) Limited cannot be held liable in any way for any reliance upon this document, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable. For specific tax advice relating to your particular set of circumstances, you should contact your own HMRC officer or your usual VAT / tax advisers.

^This is subject to a 50% block where there is any element to private use of a motor car.

How does it work?

It’s really quite simple. Once you have chosen your vehicle and decided on you initial rental, you need to make three decisions that will affect your monthly payments:

Your rental payment period

Choose any payment period between 12 and 48 months.

Mileage per year

Choose how many miles you expect to drive each year¹.

Servicing

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.

¹ Mileage restrictions apply.

Ending my agreement early and vehicle ownership

What happens if I want to end my agreement early?

• 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, these can be quite expensive.

Will I own the vehicle?

• No, the vehicle is owned by Porsche Financial Service¹ you are hiring the vehicle and will hand it back at the end of the agreement.

¹ Porsche Financial Services is a trading name of Volkswagen Financial Services (VWFS), finance is provided by VWFS.

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 Porsche Financial Services¹.

¹ Porsche Financial Services is a trading name of Volkswagen Financial Services (VWFS), finance is provided by VWFS

Important information to consider

• It is really important that you keep up to date with your monthly repayments. Please contact us if you are having any difficulties as the vehicle may be at risk if you don’t.

• 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 Porsche 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. Finance subject to status. Available to 18s and over. Terms and conditions apply. Porsche Financial Services.

For further information and to obtain an individual tailored quote, please contact your local Porsche Centre.

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