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What Does 3+35 Mean? Contract Hire Terms Explained

In the world of contract hire 3+35 refers to your contract term. You will see throughout our website that all offers advise you of a term in the format of 3+35, 6+35, 3+47 etc. This contract can be personalised to suit you.

So what does 3+35 mean?

The first part (the 3) refers to the initial payment you pay at the beginning of your lease. If an offer is advertised as 3+ it means you pay 3x whatever the regular payment is shown as. If it's 6+ this means it will be 6x the regular payment and so on.

The second part (the +35) refers to the length of the contract. So after the first month this is how many months the contract will last. This means you will pay 35 regular payments over the remainder of the contract as it's a 3 year (or 36 month) contract.

Example of a contract term

In this example offer the monthly price is 211.58 Inc. VAT this is often referred to as your regular payment.

It's shown as Inc. VAT in this example as it's a personal contract and the prices include the VAT.

The term is 3+35 which means it's a 3 year deal (36 months) with an upfront or initial payment of 3x the regular payments followed by 35 monthly payments.

Your Initial Payment is 3+ which means its 3 x 211.58 =634.74 followed by 35 monthly payments of 211.58.

The annual mileage in this example is 8,000 (sometimes referred to as 8k). As this is a 3 year contract this will be 3 x 8k = 24k over the contract duration. Therefore if you only use 6k in your first year you will have 24 -6 =18k for the remainder of the contract as your unused miles carry into the remainder of your contract. To find out more about how excess mileage and yearly allowances work, click here.

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