When you come to lease a car from us at Kew Vehicle Leasing there are many questions we’re sure you will want to ask us.
But there are a few questions we need to ask you before we complete your new lease car deal.
That’s because we need to understand a bit more about you, the car you want, and ensure the personal lease deal is correct for you. So forearmed is forewarned: here are the 10 questions you can expect us to ask you before you lease a car from Kew Vehicle Leasing.
We just want to clear up any misconceptions you may have about leasing. For example, that you will not own the car under a personal lease - the registered keeper will be the leasing company. The advantage though is that the road tax (Vehicle Excise Duty) is paid for by the funder and not you.
The contract has to be with you, the person on the end of the phone, and it has to be for your use. In other words, you cannot lease a car on behalf of someone else (perhaps because they have poor credit or don’t have a salary and so on) - such a deal is called an ‘accommodation deal’. We are regulated by the Financial Conduct Authority and are not allowed to do this.
We’re not being nosey! We just need to establish that you are 18 or over because lease agreements cannot be written if you are below this age.
We want to establish that we are both talking about exactly the same car that you have seen on our website. It then enables us to tell you further details about the car, the lease and arrange a formal quotation.
We can also talk to you about good value alternatives that you might not have seen or we know are coming to market. It’s important to get the best lease deal for you - we wouldn’t be doing our job otherwise!
The reason for asking this is to establish the correct amount of mileage in your leasing profile. The profile is the number of months for the rental (usually 24, 36 or 48 months) and the annual mileage you expect to cover (5000 miles, 8000 miles, 10,000 miles and so on.)
You don’t want to choose a lower mileage simply because the rental is more affordable. If you go over your agreed mileage there will be an excess mileage penalty to pay. On the other hand you don’t want to pay for mileage you won’t end up using, because that would be costly and wasteful.
Some vehicles that we have are ‘stock specials’. They are usually limited in number which is why the lease rental is so competitive! So if you are not ready for delivery immediately, that may not be the lease car for you.
On the other hand, you might want a car with a special option or paint finish that we’ll need to order. Some cars, particularly the premium German cars, can take up to six months to deliver.
So by asking this question we understand your car requirements and expectations more fully.
Before a car leasing agreement can be underwritten, it will require a credit check. That means we need to ask you some personal questions. These include: where do you live? How long have you lived at your current residence? Your employment and your earnings. This is all part of the Financial Conduct Authority’s treating customers fairly guidance.
We need to establish these points to ensure your eligibility before we send your application through to the finance company’s leasing underwriters.
All cars need to be serviced during a lease car contract, and lease rentals more than three years will also require the car to go through an MOT. Maintenance is an additional agreement that a leasing broker can supply: for a monthly rental it covers all your servicing, plus costly items such as replacement tyres.
You don’t have to take maintenance as part of the agreement; but you will be required to service and look after any maintenance issues during the lease period. That’s why we discuss it with you.
This is the final part of the conversation with you. It’s the moment when we can start your credit application. And the first step towards leasing your new car.
Is there anything you would like to ask us?
If you would like to discuss any of these questions with us at Kew Vehicle Leasing, we’re happy to answer your leasing queries. Either call us on 0203 189 1299 or email us at email@example.com. We’ll be happy to help.
6th of February 2020