Frequently Asked Questions
CVC Leasing here provide answers to frequently asked questions about our services and car leasing in general. Click on the question and you will be taken to its corresponding answer below. Should you have any further questions, please consult our Contact Us page.
Frequently Asked Questions
- Why should I lease not buy a car?
- What type of contract would suit me?
- What length of contract do you offer?
- What does a Maintenance Contract cover?
- Where do I take my car for servicing?
- Is there a mileage limit?
- Can I purchase the vehicle at the end of the contract?
- Can I extend the contract?
- Do you lease used vehicles?
- Can I lease more than one vehicle?
- What happens if I want to terminate the contract early?
- Do I get my deposit back?
Answers
- Why should I lease not buy a car?
When you buy, you pay for the entire cost of a vehicle, regardless of how many miles you drive it. You normally pay a deposit and an interest rate determined by your loan company. It is then your responsibility to dispose of the vehicle and settle any outstanding finance. When you lease, you pay for only a portion of the vehicle's cost, which is the part that you "use up" during the time you're driving it. Hence your monthly payments are generally cheaper and you do not have any of the hassles associated with selling the vehicle.
- What type of contract would suit me?
There are many different factors regarding which finance product to choose. Our staff are trained to ask you the questions which will enable us to give you professional and impartial advice.
- What length of contract do you offer?
We can offer any length of contract from 24 months to 60 months. For example if it suits you to change your vehicle after 30 months that’s fine. For shorter terms, we offer daily rental or FlexiPlan for contracts from 3 months.
- What does a Maintenance Contract cover?
Maintenance is when the costs for servicing and repairs is covered by the leasing company. This generally covers all routine serving, repairs and tyres. You simply insure the vehicle and re-fuel. You simply take the vehicle into the relevant dealership or use our customer service number to book any work required, and all the routine maintenance of the vehicle is carried out for you within the cost of your agreement.
- Where do I take my car for servicing?
We have accounts at all main dealers throughout the country so the choice is yours. However to make life even easier for you we can do the hard work for you, for vehicles funded via Network we will give you one contact number, the staff on this number will arrange for your vehicle to be collected, serviced or repaired and delivered back to you washed and vacuumed. There is no extra charge for this service
- Is there a mileage limit?
As the monthly rental is based on the anticipated residual value when you are finished with your vehicle, mileage does have an impact on your regular payments. You set the mileage per annum you are going to be covering, and a quotation is based on this. Should you exceed this, you will be charged at a pence per mile quoted at the start of the contract. You can amend your mileage during the contract should your circumstances change. For Finance Lease, we only ask the annual mileage to estimate the final rental. There is no mileage restriction whatsoever with Finance Lease.
- Can I purchase the vehicle at the end of the contract?
On certain products, you have the option to purchase the vehicle, this figure is pre-determined at the start of the contract. With Finance Lease, you can end up owning the vehicle, but it must be sold to a third party first. With Contract Hire, we can obtain a purchase price from the leasing company but again it must be shown to be sold to a third party.
- Can I extend the contract?
On certain products yes, you can either informally extent the contract on a month by month basis, or formally extend the agreement on a 3, 6 or 12 month basis, usually giving a small reduction on the rental.
- Do you lease used vehicles?
Yes we do, we can lease cars up to 12 months old. All our cars are fully inspected and valeted prior to delivery, and can attract substantial savings over new.
- Can I lease more than one vehicle?
A credit line will be established subject to information obtained from the credit reference agencies. This could mean you can lease one vehicle or a thousand.
- What happens if I want to terminate the contract early?
Depending which product you have, you can request a settlement at any time. Each individual case is calculated separately.
- Do I get my deposit back?
No, the deposit is part of the contract, and not refundable.
