All you need to know about leasing a commercial vehicle with Flexed
If you’ve never leased a van or pick up before, the chances are you have a few questions that need answering about the whole process before diving straight in.
From maintenance to ownership, many customers are unsure as to what they can or can’t do when it comes to leasing a van, so to ease you into van leasing either for personal use or through your business, we have all the information you’ll need to help you make an informed decision.
With a short term van lease through Flexed, you the customer never actually own the vehicle – you agree to ‘rent’ for a period of time, paying a fixed monthly amount right up until your lease contract ends, which is when the vehicle will be collected from yourselves.
On a Business Contract Hire (BCH) or Personal Contract Hire (PCH) agreement, the customer does not have the option of keeping the van or pick up when the contract comes to an end and the finance company remains the registered owner and keeper of the vehicle for the duration of your chosen lease term.
Top Van Leasing Tips – commercial vehicles available on short term lease with Flexed including pick ups
As it’s the finance provider who are the owner and keeper of the van or pick up, they will hold the V5C registration document for the whole of your lease contract.
UK road tax is included as part of a BCH or PCH agreement and will be covered for the duration of your lease agreement. If you want to check that your lease van or pick up is taxed you can visit the DVLA website. All you will need is the registration number and the make.
With any type of vehicle leasing, the customer must decide what mileage allowance will be best suited to your needs. If you exceed your agreed mileage allowance you will be charged a small fee for every mile over you cover, so for example, if you exceed your mileage allowance by 2,000 miles and the fee is 4p per mile, you will be charged Ā£80.
In order to be accepted for finance, a good to excellent credit score is what most funders are looking for. However, if you’re leasing a van through your new business or you’ve been denied finance in the past, you might be required to provide further information such as 3 months worth of business bank statements, management accounts and a director’s guarantee – for help and advice please call 0800 311 8290.
End of Lease
When your lease contract is coming towards the end, your lease van will be inspected to ensure it’s in good condition and to look for any damage that may not be covered under the BVRLA Fair Wear & Tear guide. You may be liable for any charges if upon inspection the finance provider believes you have exceeded the guidelines.
Therefore, we advise our customers to carry out their own inspection of the vehicle both inside and out beforehand, so that any damage not covered under the Fair Wear & Tear guide can be rectified by yourself, thus avoiding extra charges at the end of your contract.
A copy of the BVRLA Fair Wear & Tear guidelines can be requested by our customers.
If you’re leasing a van for business use, then it might be that you’d like to add your company decals to the vehicle, either in the form of a van wrap or simply with stickers to let people know who you are and what you do.
Most finance providers allow the use of company decals but permission must be granted before going ahead and they must be removed when your contract is nearing the end.
When you sign an agreement for the use of a van on a short term lease with Flexed, you’re entering into a contract which is not really designed to be broken, therefore if you wish to terminate your agreement early, penalties and fees will be payable by yourself, so our advice is to think very carefully before proceeding with a cancellation and understand what the costs might be.
All of our commercial vehicles are based on a 28-day leasing contract and are available to rent short term, anywhere from 1 month to 6 months onwards. Included in your contract is UK road tax, manufacturer warranty, breakdown cover and maintenance.
Please click here to find out more about our car leasing services and fantastic offers for both Business and Personal customers, or give us a call on 0800 311 8290.
Drop us a quick email to talk@flexed.co.uk or chat with a member of our team NOW using our online ‘We Are Here!’ service – we’ll gladly answer any leasing questions you may have.
