Leasing makes perfect financial sense: as soon as you drive a new car off the forecourt it loses thousands in pounds in depreciation. With leasing, you can have a brand new car, for less than the price of the depreciation alone.Why buy a car outright and commit a large lump sum up front when you can pay monthly and still drive a brand new car?
Leasing could not be simpler:
STEP ONE – Choose your vehicle
At the outset, you will either have a budget in mind or a type of vehicle (e.g. a 4x4, hatchback etc) but you may be pleasantly surprised to know that cars which you think are out of your price range may not be. We have current deals which offer great value: we use our buying power to achieve high levels of discount with manufacturers, and we pass all of this on to you through reduced rentals on our current special offers. If you are able to be flexible you will almost certainly find a great offer on a car that is similar to your first choice.
STEP TWO – Choose your contract type
As an individual, you have two choices: Personal Contract Hire and Personal Contract Purchase. Full details of these can be found here: www.affinityvehicleleasing.com/typesoflease
However the main difference is the option to buy the car outright at the end of the lease for a price which is stated at the outset. If you want to have this option, Personal Contract Purchase is for you. If, however, you simply wish to hand the car back at the end of the lease, Personal Contract Hire is for you. This option is also the most cost effective of the two.
STEP THREE – Choose your mileage
You need to calculate your annual mileage as accurately as possible so that the quote and order can realistically reflect your needs. However, you will be informed from the outset of the cost per mile should you exceed this during the lifetime of the lease.
Step FOUR – The paperwork
Once you have chosen a car, the type of lease and the mileage, the next step is to apply for the finance part of the lease agreement. This involves completing an application form and providing some details as you would when applying for any type of finance. This can take some time so it is best to plan with as much notice as possible and to provide all of the necessary information from the outset: if you work part time, be sure to let us know as funders need to have this information. You will need to provide bank statements, proof of address and a copy of your driving license.
You will then receive a decision as to whether you have been accepted or declined. If you are declined we will not be told the reason as the finance company will not inform us due to the Data protection Act. You would, however, be able enquire direct to the finance company and challenge any errors made.
If you are accepted, you move onto the order stage.
STEP FIVE – The order
We will send a final order form to you covering the particulars of the car and any extra's to be included. It is extremely important that you double check all of these details as mistakes can be costly and cannot be rectified. Once we receive the signed order form, we will place your order with the supplying dealer. Once this is placed, both you and Affinity are committed to the order and receive penalties if it is cancelled.
We will then send your finance documents, direct debit mandate, and sales agency fee request if applicable (for Personal Contract Purchase). The car cannot be delivered until these documents, cheques and proof of ID are in and accepted.
STEP SIX - Delivery
Delivery will be free to any address in mainland
We recommend that you do the following checks when your car arrives:
1. Check for any damage, scratches, missing extra's, warranty and service book, alloy wheels. If any of these are not as new we recommend you decline the delivery and do not sign the delivery note. However if its a minor detail then we recommend that if you want to sign for the car, no matter how minor the damage or omission is, you make a note of it on the delivery note and inform us before signing.
2. Check the mileage: if the car has been driven to you it may have several hundred miles on the clock therefore you need to annotate this on the delivery note so it does not apply to your agreed allowance.
STEP SEVEN – During The Lease
Throughout the term of your contract you need to ensure that the car is maintained to an acceptable standard: this means adhering to the service schedule and keeping the car in a roadworthy condition. Please check the parameters in the handbook at the beginning of the agreement. Maintenance contracts are available should you wish to include the cost of maintaining the car in your monthly rental. Please ask us about this as we run your quotes.
STEP EIGHT – End Of The Lease
Three months before the end of the lease period we will write to you to notify you of the return date and to ask your preference for fulfilling your future motoring needs. Your car will be collected on the due date, you do not need to return it to a dealer or to us.
