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We want to make sure that you fully understand what we offer, the way that a product performs and what your responsibilities are under a contract hire or finance agreement. We’ve put together some frequently asked questions but if you have any questions, we’re here to help so please call us.

Q: What is leasing?

Leasing comes in many forms but the most popular is Contract Hire, also known as an operating lease. It is a usage product, not an ownership product and the lease simply pays for the depreciation on the vehicle plus any interest or additional maintenance. It is ideal for those who want to change their cars every few years and often allows you to take advantage of high discounts from vehicle manufacturers that may not be available in dealerships. Its benefits include fixed cost motoring and when bought in conjunction with a maintenance agreement, true peace of mind and high levels of safety.

Q: Why lease instead of buy?

Leasing is beneficial for those who wish to have their car for a fixed term & know their costs in advance. Our products are for new vehicles only, so if you wanted a used vehicle then a purchase product may be better suited.

Q: How long can I lease a car for?

You can tailor the duration to your individual circumstances, 12-60 months (1-5 years). Any term within this is possible.

Q: Am I able to choose any options on the vehicle? 

With our immediate stock the cars are already built, but with factory orders cars this can be specified

Q: Should I take maintenance?

Maintenance is optional on all contracts we offer. Our experience is they are great value for money and great peace of mind. You can discuss with the Sales Advisor.

Q: My credit history isn’t strong – what should I do?

That’s not the end of the world. We have options to discuss with you and look at the best course of action. There are a range of options that will cover alternative funding arrangements to debt and counselling referral.

Q: What type of insurance will I need ?

This is usually determined by your funder and will include appropriate motor insurance. We will also have a range of other insurance products to suit your needs, including GAP and alloy wheel insurance.

Q: Will you take my current vehicle in part exchange?

We do not take vehicles in part exchange although we may be able to put you in touch with a local dealer who could give you a price for your current vehicle.

Q: Can I hand my car back early?

Yes it is always possible, however this is often accompanied by an early termination charge by the funder and we can help you through this. The cost will be determined by how far along the contact you are.

Q: What documents will I need?

This will vary by funder but would usually include, passport, drivers licence and recent utility bill. For self employed then proof of earnings is often required.

Q: What are the risks of leasing?

Leasing a vehicle is not totally risk free.

  • Insurance is your responsibility to arrange. You are responsible for any damage that is not considered ‘Fair wear and Tear’.  Most Leasing companies adhere to the British Vehicle Rental and Leasing Association (BVRLA) guidelines which can be read in advance.  Peter Vardy Leasing is a member of the BVRLA.
  • If you exceed your pre-agreed mileage there may be excess mileage payments. These are agreed on a pence per mile basis at the start of the contract.
  • If you do not choose a maintenance package cost of routine servicing, tyres and repairs are your responsibility to arrange.

Q: What is included in my contract

This depends on the package that you take.  A base package includes the usage of a new vehicle, of your choosing, for a fixed period of time and mileage. 

These come with full manufacturer warranty, Road fund Licence for the total period, full Pre Delivery inspection, First registration fee and breakdown cover.

Should you take the additional maintence package you are also covered for many of the running costs associated with motoring.  Most things outside of insurance (and accident damage) and fuel are covered with maintenance packages including Tyres, Servicing, MOT’s, Oil change, brakes, windscreen wipers etc. This provides fixed costs and peace of mind, all delivered through quality assured servicing outlets.

Q: Is delivery and collection included? 

We offer free UK delivery and collection on mainland United Kingdom.

Q: What happens at the end of my lease contract? 

When your leasing contract ends you simply hand your car back to us. We arrange the collection and inspection, and hopefully, we will be there with the keys to your new vehicle taken through Peter Vardy Leasing!


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