Vehicle Contract Hire

[Dagz]

Does anyone know any good deals at the mo? Looking for something cheap - under £200pm, no more than 2 years contract.

I've not done contract hire before, so any useful information would be appreciated.

Is there such thing as used vehicle contract hire?

There's a company called 'swap-a-lease' which seems like a really good idea, but there's hardly anything on there.

Cheers

 

[MyAccountantOnline]

Hi

I am sure you'll have lots of replies from various leasing companies very soon. Just a word of warning be very careful at the end of the lease. When the car goes back you get charged for any tiny dents/dings etc which I dont think is made at all clear when you sign up for a lease. When I got caught I did some research and found some horrendous horror stories!

 

[Dagz]

Hi

I am sure you'll have lots of replies from various leasing companies very soon. Just a word of warning be very careful at the end of the lease. When the car goes back you get charged for any tiny dents/dings etc which I dont think is made at all clear when you sign up for a lease. When I got caught I did some research and found some horrendous horror stories!

Yeah I've heard a few of these horror stories. Apparently they'll always do you for the alloys. Not that I'll have alloys at the prices I'm looking at.

 

[Kernowman]

Leasing isn't cheap, even at the previously owned level.

What I did years ago was borrow some money at the bank (some hope today :-(! ) and went to the local auction, looking out for cars that were between 1 and 2 years old when the biggest chunk of depreciation was complete. I then kept the cars for no more than 1 year and sold them on again before they had racked up starship mileages and not too many dings so they still looked very presentable.

Jolly sight cheaper than leasing and didn't lose much on resale values either.

 

[MyAccountantOnline]

Yeah I've heard a few of these horror stories. Apparently they'll always do you for the alloys. Not that I'll have alloys at the prices I'm looking at.

They absolutely went to town on my last leased car - it must have taken them hours! I wouldnt be too keen on leasing again in future for sure.

 

[Dagz]

I can hire a matiz with no contract for £100 a week. Obviously much more expensive, but I may do this for a week or two until I can afford to buy a car.

 

[Leasepoint]

Hi Dagz,

How about a Nissan Qashqai 1.6 Visia for £179 + VAT Per Month?

This deal is listed on our website, although unlike many other brokerage type operations our website only holds a limited number of offers. We can offer market leading rates on all makes and models, and in talking to our clients directly we are able to arrive at the best choice for their needs/budget, rather than simply offering them a plethera of online 'special offers.'

If you are still in the market for a car, I would be pleased to offer my assistance should you wish to contact me.

 

[fleetsauce]

Dagz,

Don't be put off by the end of term damages, this is usually charged when the vehicle is returned outside of the BVRLA guidelines. Most of the cases I have seen the charges can be excessive I agree, but all you have to do is make sure you "prep" the vehicle prior to it's returning and you will be fine.

It's not always best to fund via HP as this shows as a liability, and can reduce you facility with the banks. Other methods are more cost effective and VAT can be reclaimed (if you are vat registered).

If you still require any quotes let me know as I run a fleet management company which can help in a variety of ways funding your vehicle. Or just give me a call to discuss if you need further info.

 

[Naughty Vend]

Watch for the specials and grab them quick, pre-approve with a broker for finance to minimise the delay because all too often you get "teeth suckers" and the available car disappears or the price changes. I just took a Peugeot 3008 Exclusive Diesel Auto on 20,000 miles fully maintained for £216 p/m on 3+35.

http://www.contracthireandleasing.com/ << where I found that.

At the top of the page now (09:27 09092010) there's a Citreon C1 on £599 deposit + £84 per month (£110 p/m actual inc deposit), 6000 miles which is a lousy mileage allowance for two years but a good wee car for that money. If you went over the miles I'm sure you would find a solution of a corrective digital nature.

 

[Lease4Less]

When you hand a vehicle back at the end of a lease agreement you are covered by the British Fair Wear & Tear Guide.

http://www.bvrla.co.uk/Advice_and_Guidance/Fair_wear_and_tear_standards.aspx

I'm not going to deny that there have been a few horror stories over the years but the majority of charges levied against customers are because they have damaged the vehicle.

The simplist and cheapest way to avoid these is to have the repair work done BEFORE handing the vehicle back to the finance company.

Being honest, would you take delivery of your new car with badly scrapped Alloy Wheels, deep scratch marks or bald tyres? So why should the finance company accept a 2 or 3 year old car back in such a condition?

Fair wear and tear is one thing, but significant damage is something else.

 

[MyAccountantOnline]

When you hand a vehicle back at the end of a lease agreement you are covered by the British Fair Wear & Tear Guide.

http://www.bvrla.co.uk/Advice_and_Guidance/Fair_wear_and_tear_standards.aspx

I'm not going to deny that there have been a few horror stories over the years but the majority of charges levied against customers are because they have damaged the vehicle.

The simplist and cheapest way to avoid these is to have the repair work done BEFORE handing the vehicle back to the finance company.

Being honest, would you take delivery of your new car with badly scrapped Alloy Wheels, deep scratch marks or bald tyres? So why should the finance company accept a 2 or 3 year old car back in such a condition?

Fair wear and tear is one thing, but significant damage is something else.

Fair points indeed - I think people just need to be aware of the stringent checks that are made on leased cars when they are returned. I wasnt.

You'll always read of horror stories with any service.

I had really looked after my car extremely well and the things they picked up on were ridiculous in my case. After 6 months of dispute the leasing company did agree to waive all charges but it was very, very hard work.

In my case I took photos of the car before it was returned and was very grateful I did.

 

[Mattviatura]

I have a customer going through this at the moment and I have forwarded him a copy of the BVRLA guidelines and told him to appeal.

With very local customers I'll go and give the car a once-over myself but dealing nationally this isn't always possible. I do however always advise the customer to put the car back to a good standard, I tell him or her to treat the car as if it is their own car and they are about to sell it.

Most people would fix blemishes to maximise profit.

That is what the leasing company is doing, granted they don't always do the work they bill for but that's the ethos behind it.

If anyone has need of a copy of the BVRLA guidelines drop me a PM and I'll email the pdf.

One more thing, it's often the very cheap deals that cost a lot at the end. the fact is finance companies that did crazy deals (often manufacturer finance companies) have lost a lot of money and they are trying to recoup.

As ever, you get what you pay for and if you find a good (ahem) broker he or she will look after you.