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Vehicle Leasing FAQs

Are you considering leasing a vehicle but have questions about the process? Look no further! Our Vehicle Leasing FAQs are here to demystify the world of car leasing and provide you with all the answers you need. From choosing you new vehicle to understanding what happens at the end of your contract, this guide has you covered.

View our vehicle leasing FAQs below.

Finance Choosing My Vehicle Leasing My Vehicle End of Contract General FAQs Electric Car Leasing

Finance FAQs

In brief, yes, it is necessary to undergo a credit check or credit search when entering into a vehicle lease. This involves a creditor examining your financial information by accessing your credit report to assess your reliability as a borrower and ensure your ability to meet monthly payments for the vehicle. The credit check generates a credit report, offering an overview of your financial history. Click here for more information or contact our team directly.

Typically, finance companies will provide a response to a credit application within 24 to 48 hours. However, the process may exceed this if additional information is needed, especially during busy periods. Rest assured, we will contact you once the finance company has reached a decision on your credit application.

At GB Vehicle Leasing, we work with a range of the biggest vehicle funders in the UK, giving us access to discounts and exclusive deals. This includes funding partners such as LeasePlan, ALD Automotive, ARVAL, Lex Autolease, Novuna Vehicle Solutions and Santander Consumer Finance. We also maintain relationships with various other reputable finance companies. As a result, we can ensure we offer highly competitive rates and provide a range of finance products to suit you and your requirements.

Although your income is considered during the finance application process, employment is not essential for a lease agreement. There are various finance options catering to a diverse range of individuals, including retirees, part-time employees, and those who are self-employed. However, you must have a consistent source of income or benefits (such as a pension or disability allowance) and provide evidence of your ability to meet the monthly payments.

To lease a vehicle, your business is required to undergo a credit check, regardless of whether it's a car or a commercial vehicle/s. Securing vehicle finance may be challenging for a business with less than two years of trading or limited financial history. This difficulty arises as the finance provider cannot objectively assess the business and potential lending risks. Only certain funders will consider a business in this situation. During the application process, there might be instances where you are required to provide further information such as management accounts or 3 months’ business bank statements. If you're uncertain about your eligibility for business finance, please contact us to explore your options.

Choosing My New Vehicle FAQs

Yes, all of our vehicles are brand new, supplied by dealerships. GB Vehicle Leasing has long-established links with some of the best suppliers across the UK, enabling our pricing team to ensure we offer the very best lease deals. Sometimes we have huge discounts on ‘pre-registered’ vehicles. This just means they have to be registered before a certain date; they are still brand new vehicles.

Unfortunately not. Our lease agreements do not include insurance, and so you are responsible for ensuring the vehicle is comprehensively insured.

It is possible to add servicing and maintenance to most of our deals for a fixed monthly cost. This usually covers your scheduled car servicing and any wear and tear items which need replacing (excluding damage). Some maintenance packages exclude tyres and/or exhausts so please contact us on 0161 762 5680 to check.

At GB Vehicle Leasing, we are committed to providing a range of affordable car lease deals and cost-effective options for car leasing. Our selection includes a variety of makes and models, ensuring you can discover a budget-friendly car that suits your preferences and budget. Typically, some of the most affordable cars include the Hyundai i10, Fiat 500, Mazda2, Citroen C3 and Vauxhall Corsa. However, please note that rates are regularly updated and therefore, this list may change. Click here to discover our cheapest car lease deals currently available.

When in the market for a car, you may encounter the terms "in stock" and "factory order." An "in-stock" car is one that is already present at the dealership and ready to be delivered (subject to cooling off periods). On the other hand, opting for a "factory order" entails choosing a car directly from the manufacturer. This process typically takes longer than acquiring an in-stock car, as the vehicle undergoes production before reaching the dealership. Despite the extended timeline, choosing a factory order allows for customisation according to your specific preferences, making it an appealing choice if you have particular design or feature requirements.

The primary ongoing expense for drivers is their fuel expenditure. Therefore, it makes sense to look for a vehicle that returns plenty of miles per gallon, and is overall economical to drive. The fuel efficiency of vehicles is assessed through the Worldwide Harmonised Light Vehicle Test Procedure (WLTP). This procedure is specifically crafted to evaluate how economically a vehicle will operate in real-world conditions, subjecting it to a series of simulated and closely monitored scenarios.

Click here to explore some of the most fuel-efficient cars.

Leasing My Vehicle FAQs

Yes, you just need to inform the finance company of your destination and the dates of travel and they will provide you with the relevant paperwork. Contact us on 0161 762 5680 to find out who your vehicle is funded through.

If you have taken out a maintenance package please contact us on 0161 762 5680 or email our Admin Team to find out who you need to contact to arrange your service.

If you do not have a maintenance package you can take your vehicle to any VAT registered garage as long as they use official manufacturer parts, oil, etc.

Yes, please contact our Admin Team on 0161 762 5680 or send us a message and we will assist you with this.

If a vehicle is in stock, it's typically available for delivery within 2-4 weeks (approx.) from order. The statutory cooling off period stated by the finance company (usually 14 working days) must expire before delivery of a vehicle can take place. Also, delivery dates are subject to change by the manufacturer and on occasion, delays may occur. If the vehicle you want isn’t in stock it will be a factory order so these delivery times can vary but we’ll keep you updated of the vehicle’s progress regularly. We require all of the necessary documentation in place before delivery of a vehicle.

Yes, we can consider part exchanges depending on their condition. For more information about part-exchanging your old vehicle for a new lease, please click here. Leave behind the hassle of selling your vehicle as our experienced team help make this an easy process for you.

Each method of funding has its own advantages and disadvantages to consider when looking to lease a vehicle. The most suitable funding method may vary depending on your circumstances and your company. Our leasing consultants can explain all the options available to you, however it's worth also consulting your accountant or local tax office to verify your individual circumstances. Click here for more useful information.

Please contact us on 0161 667 5338 or send us a message and one of our leasing consultants can explain the options available to you and the advantages and disadvantages of these options.

This is how the deal is structured. In this example the ‘6’ means 6 payments in advance and the ‘47’ is the number of monthly payments you will make following this. The more you pay in advance, the lower the subsequent monthly payments will be.

On Business Contract Hire and Personal Contract Hire the road fund licence is included for the full term of your contract.

On Personal Contract Purchase and Finance Lease, the vehicle usually comes with 12 months road fund licence. From the second year onwards, you are responsible for the road fund licence. In some cases, the finance company will arrange and pay for this then will invoice you. In other cases, you will need to arrange and pay for the road fund licence yourself.

It is your responsibility to ensure the vehicle has a valid MOT and servicing is up to date. You are also responsible for maintaining the condition of the vehicle.

End of Contract FAQs

Yes, some methods of funding allow you to buy the vehicle at the end of the agreement. However, it does depend on the method of funding you choose. Please contact us on 0161 667 5338 and one of our leasing consultants can explain the options available to you.

Several months before your contract comes to an end, a member of our team will be in touch to discuss your options. However, if you want to discuss this sooner, please don't hesitate to contact us and we'll see how we can assist you.

Please contact our Admin Team on 0161 762 5680 or send us a message with your preferred collection data and address and we will arrange this for you. To arrange the collection of your vehicle, we kindly request a minimum of 7 working days' notice. Nevertheless, you have the flexibility to schedule your collection as early as 30 days before your intended date.

The possibility of an extension depends on the finance company and the type of lease agreement you have. In general, finance providers may offer two types of contract extensions: formal extensions and informal extensions.

An informal extension allows the customer to continue using the lease vehicle beyond the contract end date until collection is requested. However, an Informal Extension lacks formalities and may not be available from all finance providers. The finance provider retains the right to recall the vehicle at any time. On the other hand, a Formal Extension is a structured arrangement where the customer and the finance company enter into a formal agreement. This extension permits the customer to prolong the lease contract for an additional period, typically six or 12 months.

Early termination of a lease contract refers to the act of ending a lease agreement before the agreed-upon end date. When a customer wishes to return a leased vehicle early, they can initiate an early termination by arranging it with the finance provider. The funder then calculates a set fee that the customer must pay for ending the lease early. It is important to note that substantial penalties may be incurred, so it is advised that you think very carefully before cancelling the agreement.

The option to terminate a lease early is subject to the finance provider's discretion and can depend on your contract type. The penalty charge, also referred to as an early termination fee, can differ considerably between funders. If you’re considering an early termination, please give us a call to discuss it to ensure you’re making an informed decision. Although ultimately the final decision is down to you.

When you choose a Personal Contract Hire or Contract Hire arrangement to lease a vehicle, your monthly payments are determined by the vehicle's residual value, the contract term, and the agreed-upon mileage. In many cases, the vehicle is simply returned at the end of the contract with no extra costs. However, additional charges issued by the finance provider will apply if your vehicle is returned in a poorer condition than when initially leased (subject to fair wear and tear), exceeding the contractual mileage, or is returned early. These charges are imposed to account for any disparities between the anticipated and actual value of the vehicle upon return.

The vehicle should be handed back in a condition that is consistent with the standards outlined for 'fair wear and tear.' The vehicle needs to be both safe for road use and prepared for inspection. On the day of collection, you should ensure appropriate documentation relating to the vehicle such as service history, spare keys and equipment are available to hand over. Also, if there is a private registration plate on the vehicle, you are responsible for ensuring this is put onto retention before vehicle collection.

Click here to read the BVRLA Fair Wear and Tear Guides.

General FAQs

WLPT stands for Worldwide Harmonised Light Vehicle Test Procurement. It is the name of the test used to measure how economical a vehicle is, by measuring 3 things:

1. Fuel consumption
2. CO2 emissions
3. Pollutant emissions

For electric cars, energy consumption is measured.

The new WLTP tests replace the NEDC (New European Driving Cycle) which, up until now, is how vehicles were tested based on theoretical driving.

The NEDC was designed in the 80s so advancements in technology and changes in driving conditions mean we can now carry out much more rigorous testing to provide more accurate results.

WLTP, however, uses real-driving data and should therefore be more accurate as the test is based on normal driving styles.

The improvements made to testing include:

1. Realistic driving styles
2. Broader range of driving situations, such as; motorway driving, town centre driving, suburban driving, etc.
3. Longer test distances to obtain better data
4. Better represented acceleration and deceleration
5. More realistic temperatures for Europe
6. Higer driving speeds
7. Shorter stops
8. Testing for cars with different optional extras added

Although leasing and renting a vehicle may appear similar, there are some key differences. In particular, the duration of a lease is generally longer as you sign a lease agreement for an agreed term (typically 2,3 or 4 years). Whereas with renting, this is more of a short-term solution where you may choose a month-to-month rental agreement.

While the majority of drivers are familiar with the most common next steps – contacting your insurance provider, potentially having to write off your vehicle and such – some steps of the process are slightly different when it comes to cars that have been leased instead of purchased outright.

So, what should you do if you crash a leased car? Click here to view our useful guide to find out.

AdBlue is a solution in modern diesel vehicles designed to reduce harmful nitrogen oxide emissions. AdBlue is now a legal requirement for all diesel vehicles manufactured after 2016 in the European Union and other countries that follow similar environmental regulations.

Click here to find out what AdBlue is made of, and why it's essential for modern diesel vehicles.

In cars, torque refers to the force that the engine generates to turn the wheels. Specifically, it is the force that is applied to the crankshaft by the expanding gases in the engine's combustion chamber, which ultimately translates into the rotational force that turns the wheels. The engine generates torque by burning fuel in the combustion chamber, which creates a high-pressure gas that pushes the pistons and turns the crankshaft. This rotational force is then transferred to the wheels through the transmission and differential.

Click here to find out more about torque.

When picking a vehicle that can handle tough terrain and adverse weather conditions, you'll likely encounter two terms - AWD (All-Wheel Drive) and 4WD (Four-Wheel Drive). Although both systems channel power to all four wheels, they possess distinct characteristics that impact performance, handling, and fuel efficiency. Here, we discover the key differences between AWD and 4WD, including how each system works and what situations each is best suited for.

Diesel particulate filters are an emissions control device installed in the exhaust systems of diesel vehicles. The primary function is to trap and remove particulate matter (soot and other fine particles) from the exhaust gases produced during the combustion of diesel fuel. Functioning like a filter, the DPF captures these particles before they are discharged into the atmosphere.

As exhaust gases pass through the DPF, the trapped particles accumulate over time. To prevent blockages and ensure optimal performance, the DPF undergoes a regeneration process. This process involves the combustion of the accumulated particles at high temperatures, achieved through either passive regeneration or active regeneration.

Diesel particulate filters play a key part in reducing air pollution by minimising the emission of harmful particulates, thereby contributing to cleaner air and compliance with emissions standards.

Electric Car Leasing FAQs

Stand out from the crowd

Electric car technology is advancing rapidly which means electric cars can be costly to buy outright.

With leasing, you are paying to use the car rather than for the whole purchase price, so you can always be seen driving the latest model.

The desire for electric cars is on the rise so why not be the first to do your bit for the environment whilst keeping your payment down?

Watch the pennies

Leasing an electric car can be very cost effective. The cost of charging is less than the cost of petrol or diesel. Electric cars have fewer moving parts so are easier to maintain – you can even add a maintenance package to your monthly cost for peace of mind.

For businesses, electric cars offer great value for money as, not only do they qualify for the lowest rate of company car tax, but the payments are fully tax deductible.

The UK Government are keen for us to make the switch from conventional car driving to electric cars and offer incentives for Ultra Low Emissions Vehicles, as well as grants for the cost and installation of home charging points.

Feel good driving

Unlike petrol and diesel engines, electric vehicles are much quieter and don’t produce any polluting exhaust fumes, making them a great leasing option for the environmentally conscious driver.

Things to consider

With some car manufacturers, you may have to lease the battery separately or upgrade to get the battery included. BMW, Tesla, Jaguar and Volkswagen include batteries.

Typically, the cost for servicing and maintaining an electric car will be lower than the cost for servicing and maintaining a petrol or diesel car. This is generally because electric vehicles have fewer moving parts. There's also no oil to change, no gaskets to replace and no valves to clog up.

All electric cars are different and how far you can travel on one full charge will depend on a variety of factors, including which manufacturer and model you are driving. All electric vehicles will state an anticipated range that the vehicle will be able to travel on a full battery and they will also display a real-time indicator based on the current driving conditions.

The are multiple other factors which may affect the range of an electric vehicle. For example, weather conditions, battery performance and whether you are using the heating or air-con.

Generally, most electric cars can travel over 100 miles on a single charge, however some of the higher-end Tesla's are able to travel over to 300 miles.

When looking for electric vehicles throughout our website look for the 'NEDC Maximum EV Range Miles' value in the Tech Spec, this will give you an indication to the maximum range of the vehicle, and if you're unsure please give us a call on 0161 667 5338.

All vehicles in the UK have to conform to strict safety regulations and electric vehicles are no exception. In fact, electric vehicles will also have to meet certain standards which cover the safety of their battery and charging cables.

No, when charging your electric vehicle at home there are two main options. Firstly, you can plug it into a standard UK three-pin socket or you can have a special home fast-charging point installed.

The advantage of having a dedicated home charging point installed means you will be able to charge your electric vehicle at a faster rate. Dedicated home charging points are also compact, weatherproof and can be mounted to an external wall making charging your vehicle more easy and convenient. If you do opt to have a dedicated charging point installed, make sure it is carried out by a qualified installer.

Despite popular conception that water and electricity don’t mix, this isn’t the case with electric vehicles. This is because charging plugs and electric vehicles have been designed with multiple layers of protection built in. This means it is safe to charge and drive electric vehicles in the rain, even if you drive through a large puddle of water.

Yes, all electric vehicles come with a charging cable. However, the specification of the cables supplied will vary between manufacturers.

Please Note – Manufacturers are continually updating their model ranges and options especially with regard to electric vehicles and the technology for charging connectors either at home or at public charging points. It is difficult therefore to keep updated individual details of which cables are provided with each car. We would suggest that you check the manufacturers’ websites for up to date details of charging cables supplied as standard. GB Vehicle Leasing are unable to accept any responsibility in connection with the supply, installation and maintenance of a home charging point for your electric vehicle.

Electric car insurance rates can vary depending on the company you go with, but typically they are a little bit more expensive than petrol and diesel cars. This is because electric cars are still a new technology and there is not as much data on how often they are in accidents.

However, with the rising popularity of electric cars, many insurance companies are starting to offer discounts, so it is important to shop around, ask about discounts and compare rates before choosing your new electric car.

Often when customers are switching to an electric car, they wonder how much it will cost to charge it. Electric cars can be charged using various methods - at home, from a public charging point and from a rapid charging point. There are various factors which impact the cost of charging an electric car, but with the ever-increasing popularity of electric vehicles, the technology needed to charge them is more accessible and more affordable than ever before. Read our full guide to find out more.

The time it takes to charge an electric car depends on several factors, including the battery capacity of the vehicle, the charging method used, and the charging infrastructure available.

There are three main types of charging stations for electric vehicles: slow chargers, fast chargers, and rapid chargers. Here are their approximate charging times:

3.7kW Slow Charger: 0-100% charge in 13 hours.
7kW Fast Charger: 0-100% charge in around 3 - 6 hours.
50kW or more Rapid Charger: 0-80% in less than 60 minutes.

The exact charging times vary from one electric vehicle to another and so you should check the vehicle’s technical specification for individual charging times. The electric vehicle industry is continuously evolving, and advancements in charging technology are being made. Newer models are introducing faster charging capabilities, and the expansion of high-power charging networks is improving the overall charging infrastructure, reducing charging times and increasing convenience for electric vehicle drivers.

Yes, electric cars are capable of towing. Despite initial concerns regarding their towing abilities, dvancements in technology have resulted in electric vehicles (EVs) that can handle towing tasks effortlessly. As electric car technology progresses, manufacturers are introducing models tailored specifically for towing purposes, featuring increased towing capacities, enhanced battery management systems, and improved range calculations to accommodate this function.

While towing with an electric car requires some additional planning and consideration, the range of suitable electric car models for towing continues to expand. It remains crucial to ensure that the electric vehicle is equipped with appropriate towing equipment and that all safety guidelines and regulations are strictly followed during the towing process. Click here to read our full guide about electric cars towing.

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Vehicle Leasing FAQs

Finance FAQs

Is a credit check required to lease a vehicle?

How long does the credit check take?

Who provides the vehicle finance?

Do I have to be employed to lease a vehicle?

Is my business eligible for finance?

Choosing My New Vehicle FAQs

Are all the vehicles you supply brand new?

Do the lease deals advertised on your website include insurance?

Do the lease deals advertised on your website include servicing and maintenance?

What are the most affordable cars to lease?

What is the difference between in stock and a factory order?

What are the most fuel-efficient cars?

Leasing My Vehicle FAQs

Can I take my vehicle abroad?

My service is due, where do I take it?

Can I put my private plate on a lease vehicle?

How long does it take to delivery the vehicle?

Can you take my current vehicle as a part exchange?

Should I lease a vehicle in my own name or through my company?

What does 6+47 mean?

Who is responsible for my road fund licence?

Who is responsible for the MOT, servicing and maintenance of my lease vehicle?

End of Contract FAQs

Can I buy my vehicle at the end of the contract?

Who do I contact to arrange returning my vehicle?

Can I extend my current lease?

Can I terminate my lease early?

Are there any additional charges at the end of the contract?

What condition should my vehicle be in when returned?

General FAQs

What is WLTP?

Is lease the same as rent?

What Happens If You Crash A Leased Car?

What is AdBlue?

What is torque in cars?

AWD vs 4WD: What’s the difference?

What is a diesel particulate filter?

Electric Car Leasing FAQs

What are the benefits of leasing an electric car?

Stand out from the crowd

Watch the pennies

Feel good driving

Things to consider

Is It Expensive To Service An Electric Car?

How Far Can An Electric Car Travel On One Charge?

Are Electric Vehicles Safe?

Do I Need A Special Charging Point To Charge My Electric Car A Home?

Can I charge an electric car in the rain?

Do charging cables come with my electric vehicle?

How much is electric car insurance?

How Much Does It Cost to Charge an Electric Car?

How long does it take to charge an electric car?

Can electric cars tow a caravan?