Contract Hire

A key element of the MAN Finance portfolio of financial packages, Contract Hire provides commercial vehicle operators with a system where they can simply hire the use of a vehicle for a predetermined period against similarly predetermined maximum anticipated mileage.

The operator/operating company is never required to own the vehicle during the contract period and the agreed MAN Finance Contract Hire monthly charge for the vehicle’s use is fixed for the duration of the contract.

The MAN Finance Contract Hire agreed monthly charge will usually include the following:

• The purchase price of the vehicle
• A predetermined ‘end of contract’ residual value
• The cost of funding the contract
• The cost of the vehicles road fund licence over the contract period
• The cost of maintenance and repairs - with the exception of accidental damage
• Replacement tyres for the vehicle
• Uptime guarantee

Under normal circumstances the MAN Finance Contract Hire charges quoted will include all of these options, and the monthly charges are calculated on a payment cycle that meets the operator's individual business requirements.

With the exception of the vehicles insurance and the fuel it uses, there are no further operating costs involved with Contract Hire from MAN Financial Services.

When the contract period ends, the vehicle should be returned to MAN Finance and, providing it is returned in an acceptable condition and within the stipulated mileage limitations, no penalties will be imposed. In cases where excess mileage is incurred, the excess will be imposed at the rates quoted in the original vehicles contract document.