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Frequently asked questions

Leasing FAQ’s

What is leasing?

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.

What are the main differences between personal (PCH) and business (BCH) lease deals?

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. 

Is it cheaper to lease than buy?

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.

Is it worth getting a lease car?

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.

Can I add my private number plate?

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.

Is the road tax included?

Yes, all cars and vans have the road tax (RFL / Road fund licence) included in the monthly cost.

What is the initial payment?

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.

When do I pay the initial rental?

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

How long does the lease last?

Normally 2-5 years, although exceptions can be made for shorter rentals on cars and longer terms on commercial vehicles.

Do I need to insure the vehicle?

Yes, fully comprehensive insurance is required on all lease car and vans.

What else is included in my lease?

ü  Road tax (RFL/Road fund licence)

ü  Manufacturer’s warranty

ü  At least 12 months breakdown cover

ü  UK mainland delivery

Can I change the contract once it starts?

In most cases the contract cannot be changed, however some finance providers will allow a mileage revision after 12 months.

How much does the maintenance package cost and what is included?

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:

ü  The cost of routine service and or MOT

ü  Replacement of tyres for general wear (damage can be an additional option with some manufacturers)

ü  Consumable items such as brake pads & discs, fluids and oil.

ü  Extended breakdown covers where required

Can my lease be used for Taxi or driving schools?

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.

What if I want to cancel my agreement mid-term?

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.

Who owns the vehicle?

The vehicle is owned by the finance provider at all times.  There is no ownership option with contract hire and leasing.

Can you part exchange my vehicle?

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.

What happens if my lease car is damaged in an accident?

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.

Is there a good time of year to lease a car?

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 promotio