Car leasing can be a confusing and daunting prospect - whether you are new to it or are a seasoned regular. We've compiled a list of the frequently asked leasing questions we receive here at Carparison, in the hope it makes it all a little more clear.
However, our leasing consultants are always on hand to answer any questions you may have. So, if you don't find the answer/s you were looking for, you only have to reach out.
Can I take my leased car abroad?
Yes, as long as you have the appropriate insurance and are leasing using the operating lease or personal contract purchase options. If you are leasing your car on a contract hire agreement, the log book will be in the funder’s name and written notice of your travelling plans must be provided and approved.
What happens with my Road Fund Licence (car tax)?
Road Tax is included for the full term on all Contract Hire agreements. It is also included with other finance options unless otherwise stated by your account manager and in your order documentation.
How will I know when my car is due for an MOT?
Your MOT will be due once your vehicle is three years old. If your lease car was new when you purchased it and your term is three years long you should be able to return the vehicle before the MOT is due, depending on the return dates agreed with your funder.
What happens if I get a parking or speeding fine?
As the vehicle is registered to your finance company, they will receive the fine and transfer all liability for parking and speeding fines to you. The same applies for congestion fines.
How old do I need to be to lease a car or van?
What do I do with my car insurance?
You will need to get your own comprehensive insurance cover which must be in place before taking delivery of the vehicle.
What happens in the event of an accident?
It’s the usual protocol, so you must notify your insurer.
What are the rules on smoking in the vehicle?
You may smoke in the vehicle, as long as it is returned in a manner with no clear effects of doing so, such as burns or a severe smoke smell.
What are the rules on allowing pets in the vehicle?
It’s fine to allow your pets in the car as long as it is returned in line with the required conditions.
Is there a limit on the amount of miles I can drive?
You can drive up to 40,000 miles per annum on a contract. Naturally the higher the agreed mileage, the higher the monthly payment. Please note that excess charges are based on a pence per mile format and may vary depending on the type of contract and model of lease car. They usually range from 6 pence per mile up to 18 pence per mile.
What if I want to end my contract early?
If you choose to terminate your contract ahead of the agreed time, there will be additional charges.
What is fair wear and tear?
Fair wear and tear refers to the agreed standard of your vehicle on returning it at the end of the lease - with the understanding that normal use can cause minor deterioration over your lease term. What is classed as fair wear and tear will be outlined in your lease agreement but generally includes scratches under 25mm (as long as primer or bare metal aren't showing) on body work or wheels.
Do I have to replace my tyres when leasing?
If you take out a maintenance package that includes tyre replacement the cost of tyre changes will be taken care of throughout your lease. If you haven't taken out a maintenance package it is your responsibility to ensure that your tyres are legal and safe at all times. When it comes to handing back your car, the tread requirements on your tyres will depend on your funder. Some will require your tread to be at least 4mm, others will accept 2mm and upwards.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
01395 331 513
Hill Barton Business Park
Clyst St Mary
Carparison Ltd trading as www.carparisonleasing.co.uk is an appointed representative of Product Partnerships Limited which is authorised and regulated by the Financial Conduct Authority. Product Partnerships Limited FCA registration number is 626349 and its address is Salts Piazza Offices, Salts Mill, Victoria Road, Saltaire, BD18 3LA. Product Partnerships Limited’s permitted business is to act as a Principal for a network of Appointed Representatives who arrange regulated credit facilities for customers who are purchasing goods from them.
Carparison Ltd trading as www.carparisonleasing.co.uk acts as a credit broker not a lender. We can introduce you to a limited number of lenders who may be able to offer you finance facilities for your vehicle. We will only introduce you to these lenders. We may receive a commission payment from the finance provider if you decide to enter into an agreement with them. You may be able to obtain finance for your vehicle from other lenders and you are encouraged to seek alternative quotations. There is an additional processing fee of £195 plus VAT chargeable to the applicant with every confirmed financial agreement. If you would like to know how we handle complaints, please ask for a copy of our complaints handling process. You can also find information about referring a complaint to the Financial Ombudsman Service (FOS) at financial-ombudsman.org.uk
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