Frequently Asked Questions

Common Frequently Asked Questions

Q. Can I early terminate the contract if I want to?
A. Yes. You can terminate the contract at any time before the end of the term, but this may incur penalties. We would try to reduce any costs to a minimum.

Q. Who is responsible for insuring my vehicle?
A. The vehicle must be insured by the user on a fully comprehensive policy.

Q. Can I change my vehicle for any other mid-term?
A. Yes you can, and we will organise this for you, but the original contract must be terminated and charges will probably apply.

Q. Can I change the contract length and mileage mid-term?
A. This is possible but it will depend on your contract. Please ask and we will arrange the figures for you.

Q. Can I purchase my vehicle at the end of the contract?
A. Yes. This is available to you for personal contract hire or personal contract purchase, but business users would need to buy the vehicle through a third party. This option is only available on certain types of Contract. Please enquire for further details.

Q. What happens if I exceed my contracted mileage?
A. You will pay an excess mileage penalty of x pence per mile over the contracted mileage. We help to keep these charges to a minimum and the excess mileage charge is payable at the contract end.

Q. Can I use my local dealership to supply my vehicle?
A. Yes and we can negotiate terms with them, but if they do not meet our terms of supply, then your rentals could increase. We would prefer to use our supplier network as they are used to our funders payment terms.

Q. Where do I take my vehicle for servicing?
A. To a franchised dealer that you would prefer to use or one who is local to you. Vehicles must be serviced by the franchised dealer for the specific make of car on contract hire or personal lease.

Q. What happens if the vehicle breaks down?
A. Breakdowns are normally covered under the manufacturer’s warranty, but this depends on the type of incident, i.e. mechanical breakdown or accident damage. All maintenance contracts we provide have roadside assistance included as standard for the contract duration, and a pack is provided with each vehicle to explain what is included.

Q. Can I reclaim VAT on my payments?
A. If you are a business user then you are able to reclaim the Vat on rentals. You may only reclaim 50% of the Vat if the vehicle is used for both business and social use. You may be able to reclaim 100% of the Vat if the vehicle is solely used for business, but this may be more applicable to commercial vehicles. We recommend that you contact your accountant for further information on this.

Q. What is the difference between Personal and Business Contract Hire?
A. The rentals will be similar but the personal contract hire rate will include Vat, whereas a business will treat the Vat differently. The contracts are structured in a similar way and subject to the underwriting in the normal way.