Q. What is vehicle leasing?
Vehicle leasing is a long-term rental agreement that allows you to use a car or van for a set period of time at a fixed monthly price. It is an alternative, and often cheaper, funding solution to buying a new vehicle.
Q. What are the requirements needed to qualify?
You must be over the age of 18, a resident of the UK for a minimum of 3 years and be on the electoral roll. If you are applying for a lease for your business then you will need to have at least one UK-based director or proprietor.
Q. Are maintenance costs included?
A maintenance contract is optional and covers all routine servicing and repairs due to wear and tear. We tend to recommend maintenance contracts on business leases where the driver is likely to exceed 10,000 miles per annum.
Q. Is car insurance provided with the lease?
You are responsible for taking out your own fully comprehensive insurance.
Q. Can I Lease a Car with no deposit?
Generally, most customers will put an initial deposit or down payment down at the beginning of a car leasing agreement. That deposit can be catered to your personal needs. In the majority of car and van leasing agreements, a smaller deposit is acceptable. Contact us today and we’ll cater a leasing agreement that’s perfect for you.
Q. What happens if I exceed the agreed mileage?
If you exceed your mileage allowance then you will receive an "Excess Mileage Charge" for each mile that you go over the amount stated in your contract.
Q. Do I need to collect my car or will it be delivered?
Delivery is free on all vehicles anywhere in the UK and we will deliver right to your door or business depending on the contract you have chosen.
Q. Who owns the car?
On both ‘business contract hire’ and ‘personal contract hire’ the finance company are the legal owner of the car on the V5 document. The finance company the lease is taken out with, will record the customer/business as the keeper of the vehicle on their internal records for the lease term. If you require further clarity on this question, please call one of our team and they will be happy to help.
Q. Are lease cars covered by any form of warranty?
All brand new lease cars come with the standard manufacturer warranty supplied at main dealer level, we are happy to explain this in more detail.
Q. How long is a lease period?
Contracts with leasing companies usually range from 24 to 48 months, depending on the vehicle and contract chosen. Shorter contracts mean you are able to change your vehicle more often, while longer contracts will generally mean cheaper monthly payments.
Q. Who is responsible for Service and MOT?
You are responsible for ensuring the vehicle is compliant with the servicing and MOT requirements. This information can be found in the vehicle handbook. It’s worth noting that if you take a 48-month (four year) agreement, you will be responsible for the MOT in the final year of the contract.
Q. What is the difference between a fully maintained contract and a self-maintained contract?
Fully maintained contract
You may be able to add a comprehensive maintenance package to your lease contract for an additional fixed monthly cost. This will cover servicing, replacement tyres and other consumable parts. A maintenance package gives you peace of mind, reduces unexpected bills and lowers overall running costs associated with your vehicle.
Self-maintained (may be referred to as non-maintained or driver-maintained) and means anything that goes wrong with the vehicle that is not covered by the manufacturer’s warranty is your responsibility
Q. What happens if you do not comply with the servicing requirements?
If you do not comply with the servicing requirements and a fault appears with the vehicle, this may not be covered under the vehicle’s warranty and you will remain liable for the cost.
Q. What charges may apply at the end of the contract?
Excess mileage The cost of your monthly repayments are based on the expected mileage and if you exceed this amount you will be charged for excess mileage. The charge per mile will be shown on your contract.
Damage Fair wear and tear occurs when normal usage causes acceptable deterioration to a vehicle. Fair wear and tear is not to be confused with damage which occurs as a result of a specific event such as impact.
At the end of the lease the vehicle will be inspected for damage, and you will be charged for any considered to be outside the agreed fair wear and tear standard. The leasing company should provide you with a copy of this standard prior to collection, so you can accurately assess the vehicle.
Q. What happens if the leased vehicle is involved in an accident and is written off by the insurance company?
If the lease vehicle is declared a total loss i.e. written off or stolen, you must inform the leasing company immediately. Your finance provider will require written confirmation from your insurance company that the vehicle is a total loss before providing an amount for settlement of the vehicle contract. If the amount offered by the insurance company does not cover the settlement figure proposed by the leasing company, then the additional payment has to be made up by yourself, if you didn’t take out GAP insurance.
Q. Do you deliver nationwide?
Yes, although we are based in Buckinghamshire we offer car lease deals all over the UK. Delivery is free of charge to anywhere within the mainland UK.
Q. Is there a cancellation fee?
Yes, once your order is signed, if you change your mind, there will be a cancellation fee equal to 3% + VAT of the vehicle's P11D payable within 14 days.