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18th Sep 2018 - We are currently updating our rates! Please call for an accurate Quotation!
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FAQ

Q - What is the process of leasing a vehicle?

Once you have made the decision of ordering your new vehicle via Personal or Business Contract Hire. You will need to complete the proposal form to the relevant finance company, this option is available at the relevant deal. It is placed on the right hand side under "Apply for Finance" or you can call us and we can do it over the phone.

Once the credit line has been approved, we will need some identification. This may vary depending on the individual or business circumstances.

Depending if the vehicle is physical or getting built, the finance documents will be generated closer to the time of delivery.

Relevant documents will also need to be signed and sent back either via Post or Email. If done electronically, the documents will need to be scanned to be accepted.

The vehicle will then be delivered to the address of your choosing. This is explained in more detail in Order Processing

Q - Where do the vehicles come from?

All of our vehicles come straight from Dealerships and go through all of the relevant checks just like any other car. We do have a network we prefer to deal with because of our relationship and trust we have developed over the years.

Q - I have heard of PCP, is lease the same thing?

No, the two products work under similar principal but are separate entities. You can find more information on this topic on PCP VS LEASE

Q - Do I get a warranty?

Yes, all cars come with standard manufacturers warranty and can be taken to your local dealer if you have any queries.

Q - What else is included?

Personal & Business Contract hire usually include road fund license for the term of you having the vehicle. Some financing options like operating lease, only include the first year and not the rest. Please contact us if you are ever not sure.

Most vehicles come with break down recovery service as part of the package provided by the manufacturer. The actual company who recovers you may vary.

Q - Do I need to service the vehicle at the main dealer?

In most cases yes, but not always. We do recommend that you would do that even if it was not a requirement as it guarantees the level of work carried out. We offer maintenance packages to offer you a hassle free option. Please call to find out how much it would be on your vehicle.

Q - What happens when I finish my lease?

Most of the time you simply hand it back and start again. The finance company would normally contact you closer to them to arrange a time best for you to arrange pick up. Please inspect the vehicle your self to make sure you don't miss anything. If it is outside of reasonable wear and tear guide lines you will be charged.

Any damage caused to the vehicle would need to be repaired as and when it happens. If you were to leave it, the finance company will charge you for the repairs.

Q - What if I go over my annual mileage allowance?

We do recommend you estimate your mileage as accurately as you can at the point of order and don't leave your self short. If you do end up going over, you will be charged a pence per mile charge set by the finance company.

The charge varies from car to car and will normally have a higher charger the more expensive the vehicle.

Q - What does 3 + 23, 6 + 35 and 9 + 47 mean?

The initial number is the amount of payments you would have to make up front as a for of a deposit, also known as Initial Rental. The second number is referred to how many  monthly rentals you would have to make before the lease is complete.

Example:

If the monthly payment for a vehicle is a £100. On a rental profile of 6 + 35, you would have an initial payment of £600. Followed by 35 monthly payments of £100 to complete your agreement.

Q - Can I get out of my contract early?

This is down to the finance company and the agreement. Most of the time it can cost of anything from 50% of outstanding value, upwards. We recommend you look at the lease term based on how long you will actually want to keep the car to avoid any charges.

If you have any further questions regarding anything you have read here or maybe need some general advice on vehicle leasing, please contact Alexander Stone Ltd on 0191 691 1351 or email on Info@alexander-stone.co.uk.

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