Point of sale giant Black Horse has launched a
consumer contract hire product, in response to demand from its
dealer network.
The personal contract hire (PCH) product has
been launched alongside a contract hire product for business
customers.
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Both have been developed in collaboration with
Lex Autolease, the largest fleet lessor in the country and a sister
business to Black Horse under the Lloyds Banking Group
umbrella.
Both products, a Black Horse spokesperson said: “offer customers
the opportunity of a fixed-cost, flexible term, low-risk rental
agreement, which can be easily arranged with dealers.”
Under the agreement, customers choose term length with the
dealer (two to five years) and a maximum annual mileage. They pay a
fixed monthly sum and, at the end of the agreement, return the car
to the dealer.
Road tax is included and customers can opt for
a maintenance package add-on, so their only costs thereafter are
fuel and insurance. Business customers can also claim back all VAT
if the vehicle on lease is used solely for work.
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By GlobalDataBlack Horse managing director Chris Sutton
says the new products were developed specifically with dealers in
mind: “We have solid, two-way relationships with our dealers and we
take on board what they say. It’s been clear for some time now that
dealers and their customers have been crying out for a flexible and
hassle-free rental product where the costs are fixed, which very
few of our competitors or manufacturers currently offer.
“These new products will slot in well alongside our product
portfolio, giving dealers and customers greater choice. As we
already have a relationship with most large UK dealers, they will
have quick and easy access to this product.
“I am confident our contract hire offerings
will prove to be popular additions to dealer showrooms, with many
private individuals opting out of company car schemes, due to
limited vehicle choice and tax implications.
