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Suzuki launches new contract hire product

Suzuki is launching a new dealer finance product in partnership with Black Horse.

The Japanese brand believes the new personal contract hire (PCH) product will help to provide growth opportunities with business and retail customers.

There are currently 66,000 contract hire customers in the UK operating 1.5 million vehicles, with around 20% of companies operating 40 or fewer vehicles.

Gary Dixon, Suzuki Financial Services general manager, said: “Black Horse created a new PCH product specifically for private individuals and, with our partners at Lex Autolease, a Contract Hire product for business users, including fleet operators.

“Both products offer customers – individuals or business customers – the opportunity of a fixed cost, flexible term, low-risk rental agreement, which can be easily arranged with dealers.

“Once the customer has picked their vehicle, they agree a maximum annual mileage with the dealer as well as the length of the agreement (two to five years) and then pay a fixed monthly amount which suits their budget. At the end of the agreement they return the car to the dealer.”

Road tax is included and customers can also opt for a maintenance package add-on. Another attraction for business customers is that they can claim back 100% VAT if the vehicle is solely used for work.

Examples of PCH are Swift SZ3 1.3 DDiS at £143 per month including VAT and SX4 1.6 SZ5 4X4 at £172 per month including VAT.

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