Q: What are the minimum & maximum durations for a contract agreement?
The current funders we are accredited to run between 24 months to 60 months
Q: What are the funder’s minimum and maximum mileage in a contract?
Some funders have a minimum annual mileage of 5,000 miles pa but most are set at 8,000 miles pa. A general maximum allowance or calculation is based on a maximum mileage of 120,000 miles over the duration of the contract for cars and 150,000 miles for vans.
Q: What are the eligibility requirements?
For personal contracts “PCH and PCP “agreements there is a minimum age limit of 18 years, plus you must be a resident in the UK for a minimum of 3 years and registered on the electoral role.
Business lease agreements must have at least 1 UK based director or proprietor. There may be other criteria according to the specific offer you choose as we use several +different funders to achieve the best price.
Q: What happens during the credit application stage?
Application details are submitted to one of our funders who will perform a credit check on you or your organisation.
Q: What is required for a credit application?
Normally 5-year address history with full name and date of birth with proofs of ID and address with a general financial declaration of income and expenditure. Bank statements may be required. For companies and organisations, the need is similar but based around the company’s details with the addition of the directors or partners, and again in certain circumstances the last full set of trading accounts.
Q: What is the normal period for acceptance of credit?
Normally 24 to 48 hours, but automated systems can approve credit in seconds. Subject to the accuracy and clarification of data received.
Q: How do I know if my details are sent over is securely?
We collate data via an encrypted service which is then matched via SSL certificate to ensure protection. We constantly update systems to adopt new technology recommend by the relevant authorised bodies that help us remain compliant.
Q: Can I only lease a brand-new vehicle?
Yes. The purchase and procurement of vehicles is such that we buy new vehicles at below demo or used car prices. Being new they have a stronger resale value and a more predictable maintenance programme with added benefits from the full manufacturer’s warranty etc, 99% of all agreements are for new car or vans.
Q: Can you organise a part exchange?
Yes, we can assist with the sale of your current car. All we require is the registration number and mileage to obtain values.
Q: What is the process if I need to cancel the order prior to delivery?
There is a conveyor belt of transactions that we process after we take your order. In most cases we can cancel the order without charges subject to the make, model and dealer used. Typically, they can re- allocate the car and no charges are incurred. However, should the vehicle be registered and prepared for delivery and is not easily transferable then you are likely to incur charges.
Q: What documents do I need to complete or provide?
Contracts are now generally sent electronically. They will consist of the full terms and conditions and contractual agreement. At this stage you might be asked for proof of identity and additional information relating to the credit acceptance (driving licences, passports or utility bills etc.) For business contract hire customers, they will normally require proof of identification for one of the directors. Due to the ever-increasing threat of fraudulent activity we are constantly upgrading systems and lowering the risk to you by asking more personal details and information. Please feel free to ask at point of credit acceptance as to what the funder is likely to ask for.
Q: What is the normal turnaround of receiving a car after placing an ordering?
Stock vehicles take approximately 14 working days. If the car is a factory order your account manager will give you an estimated delivery timescale upon placing your order.
Q: Can I use a preferred dealer to provide the car?
Yes, subject to purchasing terms. We like to use preferred suppliers where we have agreed standards of service. If they meet the required terms it is always possible but not guaranteed.
Q: How do you deliver the vehicle?
The quote includes delivery to anywhere on the UK mainland during normal hours of business, Monday to Friday 9am to 5.30pm. Most of the cars are driven and at point of delivery the mileage is recorded and added to your contractual mileage. Subject to costs we can arrange a transporter.
Q: When are the monthly payments taken?
Each funder is different, but payments are taken by direct debit. The Initial payment is taken just after delivery then the regular payments will be taken one month thereafter until the end of the contract. However, as mentioned some funders draw payments on the 15th of every month. All funders produce an invoice informing you of the days the payments are related to and when they are about to be pulled. Some funders allow you to set the date your monthly rental is taken but you can only do this after the initial rental has been paid.
Q: What happens if I return/ terminate my contract early?
You will need to confirm the actual termination clauses of the relevant funder as they all differ. Most work on a charge of 50% of the outstanding rentals. Your mileage will also be pro rata. It is different for purchase agreements as they will work under the credit consumer act and calculate the settlement figures which relate to the remaining outstanding capitol, rebating any interest.
Q: What happens at the end of the contract?
The vehicle will either be returned to the funder or you will make any final payments to retain ownership or dispose of the vehicle. Vehicles are expected to be returned in a reasonable condition as stated in the BVRLA Fair Wear & Tear guidelines. We can provide electronic copies of both the industries guidelines and the funders own terms. Commercial vehicle leasing has a slightly different set of fair wear and tear standards so please request the appropriate document.
Q: What happens when the vehicle is ready to be collected at the end of the agreement?
We will usually contact you 6 or 3 months before your contract ends, if we have not contacted you 3 months prior to the end of the contract you will need to call us with the full collection address. The collection team will then confirm by email and call to confirm the date and time – we also send out a full breakdown of what is required. Please allow a minimum of 5 working days when booking a collection. Collections only take place Monday through Friday.
Q: What happens if you need the car on longer than the original contract?
We can obtain a quotation for you to extend the vehicle lease, although the terms are dependent on the funder and is most commonly available to business contract hire customers.
Q: Does my vehicle have a warranty and what does that cover?
Yes, all new vehicles come with a warranty. Manufacturing faults or defects that occur during this period will be repaired under the warranty and you will also benefit from roadside assistance for at least some of the warranty period.
Q: Who is accountable for the servicing and maintenance of the vehicle?
If you take out a maintenance package with the contract, then the vehicle should be serviced in accordance with manufacturer’s guidelines and the cost is covered by the funder. You would need to contact the funder’s maintenance department who then arranges for the work to be carried out by an approved local supplier directly. If you have chosen a non-maintained contract, then you will be responsible for all servicing and maintenance costs accordance with manufacturer's guidelines and repairs should normally be carried out by a main franchised service centre.
Q: What does a full maintenance contract contain?
The contract with the optional full maintenance packages covers all normal wear and tear items including all routine servicing, repairs, maintenance and tyres throughout the term of your agreement. Most of the funders now have a no quibble tyre policy which cover the odd kerb damaged tyre and punctures.
Q: Who is the registered keeper or owner of the vehicle?
This does relate to the type of finance but generally all leasing agreements are owned by the funder, all purchase agreements are owned by the funder up until all the payments are made and then ownership transfers to the user .But it is very dependent on the type of finance agreement you have chosen. For full details please visit the finance options section of our website.
Q: Am I responsible for insuring the vehicle?
The individual or organisation named is responsible for insurance for the whole of the period of the agreement. It must be fully comprehensive insurance.
Q: Do you have a Code of Conduct?
Yes, we are very committed to these principles and will honour them by our actions which reinforces the message of 'use only a BVRLA Leasing Broker Member' - only then can you be assured of proper standards of quality, service and value. The Bridle group of companies is a very active member of the British Vehicle Rental & Leasing Association (BVRLA) adhering to the Leasing Broker Members Code of Conduct.
Q: Do you have a complaints handling procedure?
Although we strive for a problem-free service, we have a complaints procedure available on request. The BVRLA also offer a conciliation service for disputes that you are unable to resolve with its members.