Ali_Maxxum
Member
- Location
- Chepstow, Wales
Looking at changing a 10yr old tractor with 8000hrs which is used for agricultural contracting. But rather than chopping and buying new on finance. I thought it would be better to sell to dealer and go for a 3-5yr contract hire. Simple reason being the tractor is no longer fit for purpose and is going to start costing money, and it's a lot of money tied up in a depreciating asset.
However I'm not sure of the ins and outs of doing this. With contract hire do you start by paying a small lump then continue with the monthly rentals? Or go straight in to the monthly rentals? Are the payments similar to what you would be paying if it was hire purchase?
Thanks in advance.
However I'm not sure of the ins and outs of doing this. With contract hire do you start by paying a small lump then continue with the monthly rentals? Or go straight in to the monthly rentals? Are the payments similar to what you would be paying if it was hire purchase?
Thanks in advance.