| What is contract hire? |
This is a way to finance vehicles. A company or private individual hires a vehicle(s) from a provider for a specified period and makes regular monthly payments to rent them. The leasing company retains ownership of the vehicle and is responsible for the associated risks. At the end of the contract period the vehicle is returned to the leasing company. |
| What is Personal Contract Purchase? (PCP) |
Personal Contract Purchase involves an initial deposit and then a series of monthly payments. There is also a fixed value of what the car will be worth at the end of the contract – this is the minimum guaranteed future value. The monthly payments are the cost of the vehicle after the Minimum Guaranteed Future Value and the value of your deposit have been deducted. Please note in the case of a PCP your monthly payments will be plus interest. At the end of your PCP you have the option of either paying off the Minimum Guaranteed Future Value and taking ownership of the vehicle, or handing it back. There may be restrictions on your annual mileage and you are expected to maintain the car to a high standard. |
| Will my vehicle covered under warranty? |
Yes, your vehicle will be covered under manufacturer’s warranty. Most new vehicles particularly Audi are covered for the first 3 years or up to 60,000 miles although this can vary depending on the make of your vehicle. |
| What if my Vehicle Breaks down? |
Again, most new vehicle’s are covered for Roadside and Relay for the first 2/3 years. Details of this service can be found in the manufacturer’s guide or service pack which will be supplied with your new vehicle. Please note that this may vary from manufacturer to manufacturer. |
| Do I need to take out insurance? |
Yes, It is your responsibility as an individual / Business to ensure that your new vehicle is properly insured throughout your contract. All vehicles MUST be insured fully comprehensively. Please can you also be aware that you will not be the registered keeper of your new vehicle. The registered keeper will be the finance company which holds your contract. You will need to make your insurance provider aware that you will not be the registered keeper when insuring your vehicle. |
| Will the car need an MOT? |
| No, It is very unlikely that your vehicle will need an MOT. Vehicles do not need an MOT until they are 3 years old from the point of registration. If you are leasing a vehicle for a longer than 36 months then your vehicle will require an MOT. Since most of our Contract Hire deals range between 12 – 36 months it is unlikely that you will need to MOT a vehicle ordered with us. |
| Will the car need a service? |
Depending on the duration of your contract, the vehicle may or may not need a service. In contracts with low mileage or some 24 month contracts the vehicle will not necessarily need a service.
Please refer to the manufacturers handbook supplied in the glove box of your new vehicle in order to calculate when your vehicle will be due a service. Please can you also be aware that some vehicles such as Renault require a service after 12 months – instructions on your vehicle dash board will also indicate when a service is due.
The cost of a service is not covered in your contract and you are liable to cover this cost unless it is otherwise stated in your contract that servicing is included. Ensuring that your vehicle is kept fully maintained is a condition of your contract. |
| Do I have to pay for road tax? |
In most cases, but not all, road tax will be covered in your contract. In cases such as this a new tax disc will be sent to you each year of your contract, free of charge.
In the case of a PCP (Personal Contract Purchase) you will only be provided your road tax disc for the first 12 months. After your first tax disk has expired, you will then be liable to cover the cost of taxing your vehicle throughout the rest of your contract. |
| What happens at the end of my contract? |
Usually around 2 weeks before the vehicle is due to be returned, your finance company will contact you. They will arrange a suitable date to collect the vehicle from you. Once the vehicle has been collected you will have no further obligations to it.
The vehicle needs to be in reasonable condition on collection and an inspection shall be made by the funder on the vehicle’s return based on age and mileage.
Should there be any damage to the vehicle upon inspection other than expected wear and tear – you may well be liable to cover the costs for repair. |
| How do I pay for the Vehicle? |
| You will be required to complete a Direct Debit Mandate when signing your finance documents. For the duration of your contract you will pay a fixed monthly premium by Direct Debit. |
| Do I have to pay a deposit? |
Yes. A deposit is required to secure the vehicle. This deposit will then be refunded in full once the vehicle has been delivered and the finance company have confirmed that the contract is ‘live’.
Please understand that once you have ordered a vehicle it is very difficult to cancel it. Should you wish to cancel your order you will forfeit your deposit in order for us to cover cancellation costs. |
| I can’t find the car I’m looking for on your website; does that mean the car is unavailable? |
No not necessarily.
Due to the huge number of cars and constantly changing prices, it is just not possible to display every single vehicle on our website.
If you cannot find the vehicle that you are looking for please contact our sales team on 01495 238771 who will be more than happy to help you find a fantastic deal on the car that’s right for you. |
| How long will delivery of my car take? |
If you are ordering a vehicle which is already in stock, then delivery can be arranged as soon as the Finance Contracts are signed and in place. In most cases this can take as little as 7 – 10 working days.
If you are Ordering a vehicle from build (factory order) lead times are usually between 12 – 16 weeks. This lead time could also increase if your order includes factory fitted accessories/ extras. You will always be informed of the anticipated delivery date or lead times before placing an order with us. You will also need to note that delivery dates are given as estimates and Top Cars Leasing will accept no responsibility for delays due to circumstances beyond our control such as manufacturer delays / dealer delays or factory shutdown. |
| What happens if I have an accident in my vehicle? |
In the case of a minor accident you will need to claim off your insurance through the usual channels.
If the car has been severely damaged and needs to be written off, you will need to refer to the contract between yourself and the finance company. If your vehicle needs to be written off you must inform the finance company who hold your contract as soon as possible and follow their instruction. |
| Is there any way I can lower my monthly repayments? |
Your monthly payments will be outlined in detail before you enter into the contract. Should you wish to try and lower your monthly rental during your contract, you will need to contact your Finance company for advice. |
What if I exceed my mileage limit? |
This largely varies from funder to funder. If you exceed your mileage limit there is a small charge for each mile you go over. In some contracts this is calculated at a certain pence per mile for up to 10k and then at a slightly higher rate thereafter. |
Can I Take my Car out of the country? |
Most Finance companies will have no problem with this but before you can take the vehicle out of the country you must contact the finance company and request authorization. They will then provide you with the relevant documentation which you will need before making your journey. |
What if I want to put a personalised number plate on my new vehicle? |
Yes this can normally be arranged with a minimum amount of paperwork prior to delivery. |
Who else can drive my new vehicle? |
In order for someone else to drive your new vehicle, they must be over 18/21 years old (Depending on the funder), be insured fully comprehensively and hold a full driving license. |
Are Tyres covered under warranty? |
No. Tyres must be maintained by the customer. |
