SV Contracts - Business & Personal Car Leasing

Contract Hire F.A.Q´s


Q. Can I terminate the contract early if I want to?

A. Yes. You may terminate the contract at any time before the due date but this may incur penalties. We would endeavour to keep any costs to a minimum.



Q. Who is responsible for insuring the vehicle?

A. The vehicle must be insured by the user on a fully comprehensive basis.



Q. Can I swap the vehicle for any other, mid-term?

A. Yes. We can organise this for you, but the original contract must be terminated and therefore charges may apply.



Q. Can I change the contract terms and mileage mid-term?

A. This is possible under certain types of contract. Advice will be given at the time of request.



Q. Can I buy the vehicle at the end of the contract?

A. Yes. There are no restrictions for personal contract hire, but business users would need to buy the vehicle through a third party. This option is only available on certain types of Contract. Please enquire for further details.



Q. What happens if I exceed my contract mileage?

A. We will inform you in advance of signing the contract on how much you will be charged should you exceed the declared mileage. As brokers we can ensure these charges are kept to a minimum. The excess mileage charge will be sent to you at the end of the contract.



Q. Can the vehicle be supplied by my local dealer?

A. Yes and we would negotiate the necessary discounts with them. However, it is advised that we source vehicles through our preferred supplier network.



Q. Where do I take the vehicle for servicing?

A. To a nominated garage, local to you. Vehicles must be serviced by a dealer for the specific make of car on contract hire or personal lease.



Q. What happens if the vehicle breaks down?

A. Breakdowns are normally covered under the manufacturers warranty, this can depend on the type of incident, weather it is down to mechanical breakdown or wear and tear. Some maintained contract's have Roadside Assistance included or can be added as a cost option. A drivers pack is provided with every vehicle which explains fully how to treat every type of vehicle breakdown.



Q. Can I reclaim VAT on my payments?

A. If you are a Business User then you are able to reclaim VAT on payments. However, you may only reclaim 50% of the VAT if the vehicle is used for both Business and Social use. You may be able to reclaim 100% of the VAT if the Vehicle is solely used for Business, this may be more applicable to Commercial Vehicles. We recommend that you contact your accountant for further information on this.



Q. What’s the difference between Personal Contract Hire and Business Contract Hire.

A. There is no difference between the two types of Contract, the price is the same except that Personal Contract Hire rates include VAT, whereas Business Contract Hire does not. The contracts are structured in the same way.





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