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Contracts Explained

  • What is Personal Contract Hire?

    Personal Contract Hire is an agreement based on a fixed term and mileage. An initial payment is required at the beginning of the contract followed by monthly fixed payments for the remaining term of the contract. You have the option to add a maintenance package which is a fixed cost spread over the term of the agreement. If you exceed the mileage agreed, you would occur an excess mileage rate which is calculated in pence per mile. At the end of the agreement you hand back the vehicle and either start a new agreement or extend the current. The benefit of Personal Contract Hire is that delivery charges are included as well as your road fund licence depending on the vehicle chosen.

  • What is Business Contract Hire?

    Business Contract Hire is similar to Personal Contract Hire. The main difference between the two is that on a Business Contract Hire you can recover 50% of the VAT from the monthly rental. The benefit of Business Contract Hire is that delivery charges are included as well as your road fund licence depending on the vehicle chosen.

  • What is Personal Contract Purchase?

    Personal Contract Purchase is a fixed term and mileage agreement. Again, it's similar to Personal Contract Hire and Business Contract Hire but at the end of the agreement you have an optional final payment. The optional final payment gives you a choice to either purchase the car for the final amount or hand the vehicle back, and start a new agreement. If you exceed the mileage agreed, you would occur an excess mileage rate, which is calculated in pence per mile. Personal Contract Purchase only allows 12 months road fund licence.

FAQ's

See below for a list of common questions we get asked here at Best Car Finder. We hope this page will answer most of your questions and we will be constantly updating this list over the coming months.

  • Q: Are there any hidden charges?
    A: No, the only other charge is a document fee, which can vary on the contract and vehicle taken. The charge will always be stated at the time of quotation.

  • Q: How long is the period of lease?
    A: Depending on the vehicle and contract chosen, our contracts range from 6 - 60 months.

  • Q: Is the road fund included?
    A: Depending on the type of contract chosen, our contracts will come with 12 months or for the duration of the contract.

  • Q: Can I change the mileage on the contract?
    A: You can change the mileage on a contract up to the amount of 5,000 mpa depending on the contract chosen.

  • Q: Who supplies the vehicles?
    A: All our vehicles are supplied via the UK dealer network.

  • Q: Is delivery included?
    A: Yes, delivery is included to a home or work address in the UK mainland. The vehicle will also be collected at the end of the contract.

  • Q: Is warranty included?
    A: Yes, you will receive a full UK warranty.

  • Q: Is roadside assistance included?
    A: You will have either 12 months or 3 years depending on the vehicle manufacturer.

  • Q: Is maintenance available?
    A: Yes, maintenance is optional. Please call our friendly sales team for more advice.

  • Q: What if I need to end the contract early?
    A: You can cover yourself with early termination insurance, which is an up front payment that will cover the cost left outstanding.
    Please call our friendly sales team for more advice. 

  • Q: Is Gap insurance available to cover shortfalls between insurance?
    A: Yes, Gap is available, please call our friendly sales team for more advice.

  • Q: What does residual value mean?
    A: In car leasing, the residual value is the predicted value of the vehicle at the end of the lease term - the higher the residual value, the lower the monthly payments of your lease agreement.

  • Q: What does P11D mean?
    A: A term used by the Inland Revenue for tax purposes. This relates to the value of the vehicle after the cost of extras.

  • Q: What does PCP stand for?
    A: Personal Contract Purchase (sometimes referred to as personal contract plans). With a PCP agreement you have an option to pay the final sum to the dealer to own the car, or alternatively you can hand it back.

  • Q: What does the number in front of the total amount of months to pay mean?
    A: This is the number of initial payments payable by way of deposit followed by the number of payments to be made each month for the duration of the contract.

  • Q: What does depreciation mean?
    A: This is how much the car's value reduces over the leasing period. All vehicles depreciate in value as soon as you drive them. The lower the level of depreciation, the less you will have to pay.

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Car Lease Sales

Alliance Asset Management Ltd
T/A BestCarFinder.co.uk
Eaton Court
Colmworth Business Park
St Neots
PE19 8ER

01480 223 067Open Mon-Fri 9am-6pm