“All that glisters is not gold ” - (William
Shakespeare's, The Merchant of Venice)
and that goes for Car Leasing as well…………..
you are comparing quotes, make sure you check the following
Check the vehicle description...... are they the same
An easy way is to compare the P11d price, this is
the price set by the manufacturer for company car
tax (benefit in kind tax purposes). The expression
P11d comes from the form used by the tax man to record
the vehicle details. If the quote you have does not
have a P11d price ask.
Check the payment profile, how much do you have to
pay in advance and how many subsequent rentals ?
Standard payment profiles are 3 rentals in advance
followed by 23,35 or 47 subsequent rentals for 2 3
and 4 year deals (subject of course to credit underwriting).
Check for road fund licence, is it included for the
full term ?
All contracts whether they are with or without maintenance
should have road fund included for the full term.
Is there an administration charge or an extra delivery
Always ensure to ask.
Who is the finance company behind the contract ?
A reputable broker will tell you whose figures he
is quoting you, he will also tell you about the quality
of the contract supplied by the finance company and
the levels of service you can expect to receive.
If the broker is unwilling to tell you, beware, as
he may be trying to get your order then shop it around
to where he gets the most commission, which may be
beneficial for him but not necessarily for you.
What does the “with maintenance cover”
consist of ?
Standard maintenance should cover all scheduled servicing,
all remedial maintenance work, unlimited tyres, batteries
and exhaust systems (Including catalytic converters)
accidental and impact damage is not normally included.
Excess Mileage charges, what are they and how are
they calculated ?
Excess mileage charges are payable at the end of
a contract and are calculated for mileage travelled
in excess of the original contract, Be careful, some
companies quote a two tier system e.g. 5 per mile
for the first 2,000 miles then 10p per mile thereafter.
How are end of Contract refurbishment costs calculated
Vehicles are expected to be returned in a condition
commensurate with their age and mileage. A good guide
is when a company states they work within BVRLA (British
Vehicle Rental & Leasing association) guidelines
(ask for a copy). You may also find that some companies
have a small refurbishment allowance of up to £150
Contract Amendments, if circumstances change can you
vary your contract ?
They say a week is a long time in politics, what
happens if your circumstances change, how amenable
is the finance company to mileage changes etc.
Buying the vehicle at the end, nobody knows the vehicle
better than you
Ask if you can buy the vehicle at the end of the
contract and what basis do they calculate the price
Top Ten Tips are given to you in good faith and are
for guidance purposes only
Avail Car and Van Leasing will not accept any liability
implied or otherwise.