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Frequently Asked Questions

Vehicle Leasing.

What is car leasing?

Leasing is very similar to car hire but over a longer period of time usually between 2 and 4 years although other lengths of contract are available is necessary. The contract is set by length, Mileage and the amount of initial money you put down. These factors will effect how much you pay per month however the fee is fixed so no unexpected costs will arise. At the end of the contract you can simply arrange for the vehicle to be collected by the finance company who will inspect it for damages. Leasing is popular because you can get a brand new car on a regular basis for an affordable monthly payment.

How do I benefit from car leasing?

There are many benefits to leasing a vehicle as it is a very cost effective way of motoring allowing you to budget exactly how much it will cost you over the course of 2 to 4 years. We thing the main benefits are:

  • Brand new car - nearly all lease deals are based on new or pre reg vehicles with delivery miles so you have the benefit of all the latest automotive technologies and safety features.
  • Affordable motoring - lots of our customers are surprised and didn't realise they could afford the vehicles we have to offer which makes for big smiles on their faces.
  • Low maintenance costs - as you are driving a newer vehicle the costs to keep it in working order are minimal as the parts are not worn by previous owners and MOT’s are not required until a vehicle is 3 years old.
  • Protect your future - with a lease you do not ever own the vehicle so when it comes to the end of the agreement you do not have to worry about the hassle of selling it and more importantly the depreciation.
  • Easy budgeting - Road tax is included in a lease and you have the benefit of an optional fully comprehensive maintenance package which includes services, parts and tyres to give you piece of mind that there will be no surprise monthly costs.

What is the difference between leasing and personal contract hire (PCH)?

They are the same and act as a long term hire agreement which is most popular between 2 and 4 years. This type of contract involves a credit check before you can be accepted for a lease.

What is best PCP or PCH?

Both finance options have several benefits which might appeal to different customers. Leasing gives you the reassurance of fixed monthly payments and no surprise costs whereas PCP gives you the chance to build equity in the car and also the option to buy it at the end of the agreement.

What do I do if there are no prices for the car I am interested in?

We can provide quotes for any make or model of vehicle so the best thing to do is call and speak to our expert team on 01625 568 612 or you can email sales@letstalkfinance.co.uk

Do you have stock available?

Because we have access to national stock availability frequently changes. If your looking for something quick it is best to ask us to check availability for you as we might be able to find you a car for quick delivery even when the website says factory order.

What are the next steps if I want to proceed?

To get the ball rolling the next steps are really simple:

  • Pick your new Vehicle - Decide which car you would like to go for along with any optional extras you might want to pay for. Select the length of contract, mileage and initial payment which best suits you.
  • Submit your application - Finance must be approved before we can order your new car which usually takes between 24 - 48 hours to receive an answer from when it is submitted.
  • Vehicle order - Once finance is approved we will send you an electronic order form to sign and once this has been done we are good to go.
  • Finance documents - When the vehicle has had its safety checks and is waiting in the que for delivery we will send you finance documents to complete.
  • Delivery - Delivery is free of charge to anywhere in the UK (Mainland) Monday to Friday.
  • Enjoy the car - the cars all yours for the agreed length of contract and at the end you simply hand the keys back to the finance company.
  • Time to renew - Before the end of your contract we will be in contact to discuss your next vehicle and if you decide to lease again you will have access to all of our fantastic new offers available.

How old do I need to be to be able to get a car lease?

As long as you have a UK driving licence we can submit your application. A credit search will be conducted before receiving a final decision from the finance company.

How good does my credit need to be?

As long as you have a clean credit file and you can show that the vehicle is affordable you have a good chance of being accepted for a lease.

I am new to leasing, how do I work out my annual mileage?

The best way to check this if you are unsure is to look at recent MOT tests to work out your annual mileage on average but if you have not owned a vehicle before you can work out your distance to work and other trips you might take in a month and multiply it by 12. The most popular mileage options our customers choose range between 8000 and 12000 per year.

What do you mean by payment profile?

This is a term used in leasing to establish your requirements i.e. 1+23 10K means you want to put as little money upfront as possible and pay a higher monthly payment with 10,000 miles per year. If you were to say 9+35 10K you would like to put more money in upfront to bring the monthly payments down with 10,000 miles per year. The initial payment is always that first number times the monthly payment to calculate your first payment.

What can be done to bring the total cost of the lease down?

Generally no matter if you put a higher initial payment down or not the total cost is virtually the same on a lease. If you feel you will do less miles per year than quoted you can always reduce the mileage prior to signing the finance documents to a minimum of 5000 but be sure to take note of the excess mileage charges as you will be charged this at the end of the agreement if you go over the contract agreement.

How quick can you get me a vehicle?

This depends on the stock availability of the vehicle you are looking at but if it is in stock we can deliver the car in as quick as 7-10 days. If the vehicle is not in stock and you require a factory order then this normally takes 12 - 16 weeks on average.

Why are the prices different for business and personal?

Most of the time the difference is the VAT which a business must still pay however they might be able to reclaim this if they are VAT registered. Some finance companies offer occasional special deals for Businesses or personal customers. In these circumstances the prices will be different however it doesn't happen often as most lease deals are available to everyone.

Can you do a price match if I find a better deal?

If the deal is like for like and exactly the same we will always match or even try to beat the price you have found as we value every customer.

Why does the price change when I choose a different mileage?

Lease deals calculate depreciation of a vehicle so if you choose a higher mileage contract then it is likely the vehicle will be worth less at the end of the agreement.

Where do you get the vehicles from?

We have built relationships with all of the leading UK dealerships and finance companies.

Can I buy the car at the end of my lease?

You do not have the option to buy at the end of a lease. If you would like this option one of the other finance packages available might be more suitable. For more information please give us a call on 01625 568 612.

What do I have to pay for on a lease?

If you do not add our maintenance package you will be responsible for the upkeep of the vehicle. Your will also be responsible for damages on the vehicle so it is important to return the vehicle in good condition. If you need more info on this the finance contract will outline the guidelines for fair wear and tear. 

Fuel and insurance is also your responsibility when leasing a vehicle.

Am I able to add my private plate on to the lease vehicle?

Yes this is possible to do and you will need to change the nominee details on your retention certificate to the finance company. Once this has been done you can communicate with the finance company directly to get it officially added on to the vehicle. This must be done after delivery as the car must first be registered on a standard number plate.

At the end of the lease it is your responsibility to arrange for the plate to be officially removed with the finance company and it must be returned on the original standard number plate.

Does the vehicle need to be cleaned before handing it back?

So that the vehicle can be properly checked we would recommend that you get it fully cleaned before collection so that any damage is fully visible.

Applying For Finance.

Will you check my credit history if I want to lease?

Our finance partners will conduct a credit search to ensure you can afford the vehicle and you are not facing any financial difficulty. This is in place to protect the customer.

We have several different lenders we use, some of which might be more suitable to your circumstances in which case we will choose the cheapest lender to suit you.

My credit isn't great, can I still lease?

It is much easier to get a lease is you have a good credit score however we do have relationships with lenders who specialise in customers with poor credit.

How long does a credit check take?

Most of our finance partners need 24-48 hours on average to review your application but it usually is much quicker than this. If the finance company requires more information this can take longer.

How much should I budget?

This depends on each individuals income and expenditure. We would recommend you work out how much you could comfortably afford each month for the contract.

What is the best deposit to put down?

The choice is yours as to wether you would rather put very little down and pay a higher monthly payment or if you would like to bring the monthly payments down by putting in more upfront. Regardless of how much you put down the total cost is normally always the same.

Do finance companies accept guarantors?

All finance companies have different lending criteria so it is best to ask a member of our team who can find out. It will be assessed on both the individuals financial circumstances and also the guarantors.

When does the initial payment get taken?

This usually is taken by direct debit after you have taken delivery of the vehicle around 7-10 days to act as your first payment. It is important to check the finance company have the correct bank details to prevent the payment failing which could have a negative impact on your credit file. 

Some finance companies require the payment in advance which your will be notified of before delivery.

Finance Contract.

How long is the warranty?

You get the remainder of the manufacturers warranty on a lease vehicle.

How long do I have to change my mind once the documents are signed?

For personal customers some agreements will have a 14 day cooling off period in place but you should carefully read the documents for information on this. Cancellation charges might still apply even in the cooling off period so it is important to check this.

Why cant the insurance comparison website find the vehicle registration?

This is usually because their databases haven't had time to update your new car so you will need to call your insurer so they can manually add it to their database.

Can I hand the car back early?

You can hand it back early but charges will usually be payable to do so.

Who owns the car?

The finance company are the legal owners of the vehicle and they keep the V5c document.

Vehicle Delivery.

How much is delivery?

UK mainland deliveries are free of charge to UK mainland. Outside of that delivery will be chargeable and also if you request for the vehicle to be transported and not driven then there will be delivery charges.

Can I collect the vehicle to speed things up?

Some dealerships allow customers to self collect but this must be checked on a case by case basis so you are best to ask a member of our team to find out for you.

Does the delivery have to be to my home?

No you can have the vehicle delivered anywhere providing we have plenty of notice.

Do I need to be there to sign for the vehicle?

You don't need to be there to sign for the car however if someone is taking delivery on your behalf we must be advised of this when delivery instructions are sent over.

What do I need when the vehicle delivery arrives?

You will need a form of ID like a passport or Driving licence. Make sure you carefully check the vehicle for damages before signing the delivery note.

What time is the car due for delivery?

We can not specify a time as this depends on the drivers delivery schedule on the day, Distance to travel and also traffic conditions. The driver will call you 1 hour in advance to delivery and we would recommend that you keep your full day free so that you are available.

How much fuel will I get in the car?

There are no agreements in place for vehicles to be delivered with fuel however there is usually around a quarter of a tank.

Who explains how to use the vehicle features?

Delivery drivers will usually explain the basics so you can get on the road. If you need more information please look through the instructions in the vehicle hand book.

Will I get a spare key?

Yes you will receive 2 keys for the vehicle.

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Lets Talk Finance are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 788369

Registered in England & Wales with company number : 10690121 | Data Protection No : ZA445902 | VAT No : 310 2674 45

Registered Office : Clover Cottage Greendale Lane, Mottram St. Andrew, Macclesfield, United Kingdom, SK10 4AY

Disclaimer: All vehicle images and descriptions are for illustration and reference purposes only, all vehicle leases are subject to credit approval and subject to change at any time. E&OE.

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