Should I take out Contract Hire or a Personal Contract Hire agreement?

Contract hire is only available to companies, partnerships and sole traders. The equivalent for an individual is Personal Contract Hire. Sometimes Company Directors will opt for Personal Contract Hire rather than acquiring a vehicle through the company, this can be when there is a particular tax reason for doing so and these are areas that should be discussed with the Accountant. On other occasions the Director acquires the vehicle personally because the company is not acceptable to the finance company, perhaps because its balance sheet is not strong enough.