Frequently Asked Questions
Leasing is also known as contract hire, PCH or BCH is the agreement of hiring a new car for a fixed period of time normally 2-5 years, although shorter contracts are available on special request.
You’ll notice that personal lease deals are always advertised including the VAT, business lease deals are advertised without the VAT. Personal leasing is available to anyone over the age of 18, subject to their credit file. Business leasing is only available to limited companies, partnerships, PLC’s, Sole Traders, Public limited companies and any other recognised legal entity within the UK.
VAT registered business users can reclaim 50% of the VAT on cars on lease, and 100% of the VAT on commercial vehicles on lease.
It’s impossible to say exactly, but leasing will always give you more control of your finances with a fixed monthly rate. You can also keep hold of your savings and not have to pay deposits amounting to thousands of pounds.
Leasing a car or van enables you to get new models and vehicles that may otherwise be out your budget. A fixed monthly fee gives you confidence in your motoring costs and the optional maintenance package gives complete peace of mind. It can also help businesses with cashflow and forecasting for business plans.
You sure can! You need to give us a little extra notice and complete the DVLA paperwork which normally carries a small nominal fee for transfer.
Yes, all cars and vans have the road tax (RFL / Road fund licence) included in the monthly cost.
When the lease cost is split over a period of say 24 months, a proportion is paid upfront as the initial rental. You can choose to lower this payment or increase the payment. The amount paid will impact the monthly rental thereafter, for example a higher initial payment would reduce the remaining balance and therefore reduce the monthly cost, and vice versa.
Normally 1-2 weeks after delivery although some funders and dealers may ask you to pay prior to delivery and some may not collect until 3-4 weeks after delivery depending on circumstance and lease type
Normally 2-5 years, although exceptions can be made for shorter rentals on cars and longer terms on commercial vehicles.
Yes, fully comprehensive insurance is required on all lease car and vans.
Road tax (RFL/Road fund licence)
3 year manufacturer’s warranty
At least 12 months breakdown cover
UK mainland delivery
In most cases the contract cannot be changed, however some finance providers will allow a mileage revision after 12 months.
The cost varies depending on the length of contract, the mileage requirement and the make/model of the vehicle. In addition to what is included as standard, maintenance packages will add:
The cost of routine service and or MOT
Replacement of tyres for general wear (damage can be an additional option with some manufacturers)
Consumable items such as brake pads & discs, fluids and oil.
Extended breakdown covers where required
The short answer is no, however we can assist with some chauffeur requirements and driving school cars can be available by special request. Drivers must have a full licence to lease a vehicle, provisional licence holders are not eligible until they pass a test.
It is possible to cancel early depending on situation, however all finance providers will charge an early termination fee, usually equal to at least 50% of remaining rentals. All requests will be considered individually.
The vehicle is owned by the finance provider at all times. There is no ownership option with contract hire and leasing.
Technically we cannot part exchange, however through our network of dealers we can assist you with receiving a cash payment for you used car upon delivery of a new lease car. Please contact us should you wish to enquire.
If your vehicle is damaged in traffic collision then your insurance will cover the cost of repair in most circumstances. If the vehicle is written off your insurance company will normally speak with the finance company on your behalf. You may be liable to any shortfall in any insurance pay-out as well as the excess on your insurance policy.
There is no specific time, although bear in mind that delivery in March and September comes with new registrations and as such you may need to order early to guarantee your slot. Stock deals are often the best value, enabling you to get a car quickly and as part of a promotion.
Yes indeed we do. Electric lease cars are rapidly gaining popularity, you can view our electric lease car deals by clicking here
Yes we sure can. Ready2Lease have a relationship with a national installation company for electric car chargers. Click here to view more details