A: When you buy, you pay for the entire cost of a vehicle, regardless of how many miles you drive it. You typically make a down payment, pay sales taxes in cash or roll them into your loan, and pay an interest rate determined by your loan company. You make your first payment a month after you sign your contract. When you lease, you pay for only a portion of the vehicle's cost, which is the part that you "use up" during the time you're driving it.
Q: What is maintenance, and what does it cover?
A: Maintenance is when the vehicle is fully serviced by the leasing company. This covers EVERYTHING apart from insurance and fuel, for the duration of the contract. You simply take the vehicle into the relevant dealership, and all the routine maintenance of the vehicle is carried out for you. This also includes tyres.
Q: Is there a mileage limit?
A: On certain products (such as contract hire) yes, you set the mileage per annum you are going to be covering, and a quotation is based on this. Should you exceed this, you will be charged at a pence per mile quoted at the start of the contract. You can amend your mileage during the contract should your circumstances change. For Finance Lease, we only ask the annual mileage to estimate the final rental. There is no mileage restriction whatsoever with Finance Lease.
Q: Can I purchase the vehicle at the end of the contract?
A: On certain products, you have the option to purchase the vehicle, this figure is pre-determined at the start of the contract. With Finance Lease, you can end up owning the vehicle, but it must be sold to a third party first. With Contract Hire, we can obtain a purchase price from the leasing company and buy it on your behalf, however, we have no control over the price.
Q: Can I extend the contract?
A: On certain products yes, you can either informally extent the contract on a month by month basis, or formally extend the agreement on a 3, 6 or 12 month basis, usually giving a small reduction on the rental.
Q: Do you lease old vehicles?
A: Yes we do, we can lease cars up to 12 months old. All our cars are fully inspected and valeted prior to delivery, and can show some attractive savings.
Q: What happens if I want to terminate the contract early?
A: Depending which product you have, you can request a settlement at any time. Each individual case is calculated separately.
Q: Do I get my deposit back?
A: No, the deposit is part of the contract, and not refundable.
Q: Can I claim the V.A.T. back?
A: Yes you can, you can claim 100% of the v.a.t back if the vehicle is used 100% for business use, and 50% of the V.A.T back if the vehicle is being used for private use as well as business. (100% of v.a.t reclaimable on the maintenance element is taken).
Q: How long does the process take?
A: Credit vetting normally takes 24 hours, we can normally deliver a stock vehicle 2 weeks later. This is dependent on availability of your chosen vehicle.
Q: Can I choose the colour of the vehicle?
A: Yes, you can choose the colour, specification etc as if you were purchasing the vehicle yourself.
If you have a question that isn't answered above, please contact us and we'll do our best to answer any queries you may have.