- What is leasing?
- Leasing is a financial agreement in which an individual or an organisation pays to use an asset (land, machinery, vehicle, etc.) for a specific timeframe.
- Leasing can make financial sense for those who want a brand-new car every two to four years.
- What is contract hire?
- Contract hire is a type of vehicle finance, typically described as a long-term lease agreement between an individual or an organisation and a finance provider for the use of a new car.
- The vehicle is owned by the finance provider and returned to them at the end of the predetermined period of lease.
- The leasee does not own the vehicle.
- What is the difference between business contract hire and personal contract hire?
- Business contract hire is for businesses and is personal contract hire is for individuals.
- It is the same type of financial agreement but with slightly different terms and conditions.
- What are the benefits of contract hire?
Opting for contract hire finance frequently means that you can drive a higher-quality brand new car that you wouldn’t necessarily be able to afford to purchase outright. We see the benefits of contract hire as:
- Payments tend to be cheaper
- Flexible contract lengths
- Maintenance packages (optional) cover your service and vehicle maintenance costs
- Fixed monthly payments
- Will I be able to buy the car at the end of my contract hire agreement?
- A contract hire rental agreement doesn’t provide you with the option to buy the vehicle.
- If you would like a type of vehicle finance that includes the ability to purchase the vehicle at the end of your contract, please contact us to discuss your options.
- What is a maintenance package and why is it included in my quotation?
- A maintenance package is an optional additional product offered by finance providers to help keep vehicle upkeep costs predictable.
- Packages will vary between finance providers and manufacturers but you will generally pay a fixed monthly amount to cover servicing and vehicle maintenance by approved partners for the lifetime of your financial agreement.
- We include the finance provider’s maintenance package price on our quotations to ensure our customers are aware of the option to take the product.
- What is an initial payment?
It is your first payment to your finance provider when your contract begins. It will be taken after you take delivery of the vehicle you are leasing, normally within the next ten working days.
- When will my finance payments be taken?
Initial payments will be taken after you take delivery of the vehicle, normally within the next ten working days. Your monthly payment dates can be determined by your contract start date or by your finance provider’s dedicated billing date (e.g. the 15th of every month).
- What is an excess mileage charge?
- Your finance provider will charge you a fee if you have exceeded the agreed total mileage of your finance agreement at the end of your contract. This fee is determined by the number of additional miles you have done multiplied by the excess mileage charge stated in your contract.
- We will detail your excess mileage charge on your quotation form.
- Can I get out of my contract early?
Most finance providers will allow customers to cancel their agreements but you will incur an early termination charge, which can be anything from 50% of the total of payments outstanding.
- Will my car come with a warranty?
All the cars we supply come with a full manufacturer warranty.
- Can I lease a car if I haven’t passed my driving test?
No. Our finance partners require the leasee to be insured as the main driver of the leased vehicle which isn’t possible without a full valid UK Driving License.
- Who is the leasee and the leaser of my Leasehub car?
You are the leasee and your finance provider is the leaser.
- Should I lease as a business or an individual if I own my own business?
Leasing through a business can give you the ability to claim back VAT on your lease payments. We can help you lease the vehicle either way but ultimately it’s down your preference.
- Can I lease with Leasehub if my business is less than two years old?
Yes, we offer our services to new businesses. Our finance partners may request additional mandatory information to consider your application.
- Will the vehicle I lease be delivered to me?
Yes, we offer free driven delivery to the UK mainland for all orders placed with us. We can also arrange for vehicles to be delivered on a trailer at an additional cost to the leasee.
- How quickly can you deliver a vehicle?
Subject to vehicle availability and satisfactory completion of finance agreements, we may be able to arrange delivery for within seven days for business customers and fifteen days for personal customers.
- Can I collect my vehicle from the supplying dealership?
Yes. However, some of our manufacturer suppliers use vehicle distribution sites to meet their larger logistical requirements and in these cases collection from site cannot be offered.
- Is Road Tax included in my lease agreement?
Road tax is included for the duration of your contract unless otherwise stated in your financial agreement.
- Not found your answer?
- Please get in touch