Frequently Asked Questions about Car Leasing

How do you source your vehicles?

Our cars and Vans are all supplied via either the UK dealer network or via the Franchise direct. We don't use imports and we don't use other Brokers to source hard to find stock

What buying power do you have?

As we buy many thousands of vehicles a year, we are able to secure higher discounts than most.

What warranty do I get on the vehicle?

As our vehicles are supplied via the Dealer network and franchise direct, you receive all the usual benefits such as full manufacturers warranty and road side assistance / rescue package - as dictated by the manufacturer.

What happens to the vehicle at the end of contract?

With all Contract Hire packages, we collect the vehicle from you at an agreeable date at the end of your contract. We may also be able to source you a purchase price which will be based on the Auction Value if you had an interest in owning the vehicle at the end of contract.

Can I extend the contract?

In most cases, yes - usually for anything between 3 and 12 months at a time.

Does the price quoted include Delivery?

Yes. All our vehicles are delivered to any UK Mainland address.

Can I take the vehicle abroad?

Yes - If you are in possession of a leased, hired or rented vehicle the registration certificate will normally be held securely by the company that finances the vehicle. When traveling abroad it is important that drivers are able to produce documentation to show they are authorized to be in possession of the vehicle. The vehicle on-hire certificate (VE 103) has been developed to satisfy this requirement. The certificate, which is subject to a small administrative fee, may be obtained from our admin department.

Over what period can I take a lease?

12-60 months is the range that we currently offer. As a general rule - the longer the contract, the cheaper the rental.

What is the Initial rental?

The initial rental is constructed of either 1, 3 or 6 of the monthly rentals or can be a lump sum. This figure is not returned to you at the end of the contract so to calculate the total repayable you have to take this payment into consideration.

Can you accept credit cards for the initial payment?

No - we can accept cheque, BACS or CHAPS payments. Many finance companies now simply take the first payment by Direct Debit.

What does a Maintenance budget include?

Maintenance on all our lease products will usually incorporate all routine servicing, tyres, brakes, clutch, exhaust etc. It doesn't include, body damage, stone chips to glass or punctures. The cost of Maintenance varies depending on the finance company, vehicle and mileage that you will cover.

Can I terminate my contract early?

Yes - you can terminate a contract early. A termination fee may apply so it's best to check with our Admin team before making any decisions. Finance company admin fee's can vary between £0 and the total amount repayable - so well worth checking.

Is Road tax included?

Currently most of our finance companies offer full road tax for the full term of the contract. It is simply posted to you each year.

What happens if I have an accident?

If you have an accident, call us on our Accident Management help line 0845 634 9212. More details can be found by following this link http://www.skyfleetcarleasing.co.uk/accident-management.php . We will deal with the claim on your behalf.

Who insures the vehicle?

Just the same as if you owned the vehicle, you need to insure the vehicle for the full length of the contract on a fully comprehensive basis. We offer you assistance with a quotation via the following link https://www.yourcarmotorinsurance.co.uk/home/index.aspx?s=9

What if I Exceed the Contract mileage?

Its simple a small "pence per mile charge" applies (PPM) . This "PPM" varies depending on the vehicle and can be found on your contract. Usually it is around 10p per mile - so 1000 miles over contract mileage would result in a £100 charge. You will be invoiced after the vehicle is collected.

Can I transfer the hire of my car to another company or individual?

Quite often, yes! Check with our admin team for further details.

What's the difference between Business and Personal Contract Hire?

The type of finance it is are the same - the only difference is Business rates are quoted with VAT excluded. Personal contracts are quoted with VAT included. Some funders will only finance companies and not private individuals - however, in most cases you can simply add VAT to get the personal price. Just tell us if you'd like Business or Personal, and we'll get you the best price accordingly!

I own a VAT registered business, can VAT be reclaimed on the rentals?

Yes, but only 50% of the VAT. If you have full maintenance, 100% of the VAT for the maintenance element can be reclaimed.

What happens if I get a speeding ticket or parking fine?

If it can't be satisfied on the spot, then the authority issuing the fine will usually write to the finance company funding the vehicle, who will in turn inform the Authority of the individual/company that has possession of the vehicle. It will then be up to them to satisfy the fine directly with the issuing authority. In some cases, the funder will pay the fine immediately and pass the costs on to you.

Can I make modifications to the vehicle after delivery? For example a tow bar?

Yes - subject to the modifications being "made right" before collection. The BVRLA publish guidelines for acceptable marks. Usually, it's fine to leave the modification on the vehicle if it's not easily removed, for example parking sensors - as long as they're not specialist items you would not expect to have on a used vehicle. If in doubt, contact the finance company concerned for specific advice.

What about sign writing?

Yes - but it must be removed without any damage prior to the collection of the vehicle.

Can I have the vehicle delivered to an address other than my home?

Yes, however for fraud prevention we can only deliver to a confirmed address, like your confirmed work address. If for any reason you're not able to accept delivery - we will need confirmation in writing that you're authorising someone else to accept delivery on your behalf, and a copy of their identification.

My company wants me to get a car in my name, but they've said they'll pay the Direct Debit. Is this possible?

No - the Direct Debit must come from an account from the person/company underwritten, whose name is on the finance agreements.

Can you take part exchange?

Unfortunately not.

What happens when the vehicle requires an MOT?

In many cases clients have their vehicles collected before an MOT is due (which is 3 years from registration). If it does go over this date, it's a legal requirement the MOT is carried out. Customers with full maintenance contracts have this covered as part of their maintenance agreement.

 

For answers to any questions not mentioned above please do not hesitate to contact us