What is Contract Hire?
A Contract Hire agreement is a method of funding the use of an asset over an agreed period. You will not own the asset at the end of the contract and the assets will need to be returned to the supplier.
In conjunction with one of our authorised asset suppliers, Contract Hire agreements offers a complete asset funding solution. This product is suitable for business customers only.
Our Contract Hire can offer you:
- Minimum loan amount €10,000
- Lower monthly rentals as you are not financing the full cost of the vehicle
- Facilitates use of an asset without taking ownership
- Rentals are usually deductible against taxable profits1
- Rentals can be tailored to meet cash flow needs
- Spread the cost of the asset in line with its value to your business
- No initial cash deposit or costs on disposal
- Protected from any risks of an asset losing value
1 VAT is charged on the rentals.
How to apply for a Contract Hire agreement
| If you wish to apply for Contract Hire or if you would just like to get a quote or enquire, please contact us through the below channels |
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For finance amounts up to €60,000: direct.assetfinance@ptsb.ie
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| For finance amounts over €60,000, please contact: your local Relationship Manager |
| Alternatively, you can call us on 0818 210 263. Lines open Monday to Friday 9am to 5pm (excluding public holidays). |
Important information
- Available to over-18s only. Republic of Ireland only. Security and/or guarantees and indemnities may be required. Fees and charges apply. Lending criteria, terms and conditions apply. Subject to Credit Approval. Lending is for business purposes only.
- Documentation Fee of €120.00 plus VAT will be charged with the first repayment. Additional fees may apply for early repayment of a fixed rate agreement or if an account falls into arrears.
- You will not own the asset at the end of the contract. Certain return conditions may apply. You will need to insure and maintain the asset. You should seek independent advice to determine if this product is suitable for you.
- All statements concerning taxation are based on best understanding of current legislation. Levels and basis of taxation can change at any time. This information does not constitute legal, tax, financial planning or any other advice.
- PTSB Asset Finance will appoint some suppliers as introducers of new business and will pay these suppliers a commission/fee for introducing the new business. Where a commission/fee has been paid to a supplier, it will be disclosed under the ‘Goods Details’ section of your Asset Finance Agreement.
- Click here to view PTSB's fees and charges brochure.
Warning: You may have to pay charges if you repay early, in full or in part, a fixed-rate credit facility.
Warning: If you do not meet the repayments on your credit facility agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
