Having invested in 3 brand new facilities and not being experienced in mobile plant the customer saw the benefits of CPR contract hire immediately.
Zero deposit, the first invoice 30 days after delivery, no upfront Vat, No maintenance or service concerns, all this included in the contract a fixed price for 3 years.
The only unknown cost for the period would be damage
The customer has no depreciation or residual concerns and no trade or sale concerns or values in 3 years time.
Contract hire was also off balance sheet and had no effect on future borrowings.
With a further 6 sites in the pipeline this was an important factor.