A company lease, or contract hire, means that the car is leased or hired for a fixed period between 3 and 60 months, and set charge is paid usualy monthly, This is based on the anual milage the leaser is likely to travel. The lease can come with or without a maintenance contract. At the end of the lease the vehicle is returned to the finance company. As much as 100% of the cost of lease can be offset against taxable business profits and up to 100% of VAT on the leased car can be claimed,