Business Leasing or Contract Hire as it is more formally known is a fixed cost rental agreement that provides cost effective motoring. It is an efficient way for private individuals to fund a new vehicle. Enjoy the new car you want without the risks and hassle of ownership. Lex Autolease, part of Lloyds Banking Group, can help you.
You choose the manufacturer and model of vehicle that you want and agree the terms of the agreement (the maximum annual mileage and length of agreement, initial rental amount followed by fixed monthly rentals to suit your budget). The higher initial rental you pay, the lower the normal monthly rental will be. We then purchase your vehicle and hire it to you. At the end of the agreement you return the vehicle to us.
You can even choose to include our optional maintenance and breakdown cover so we manage and maintain the vehicle for you too. The cost would be included in your monthly rental meaning you can pay one fixed monthly payment - keeping your costs affordable and predictable.
It is important that you predict the projected mileage you expect to travel as accurately as possible as once. Once you return the vehicle to us we will compare the actual mileage with the contracted mileage. Excess mileage charges will apply if you exceed the agreed contracted mileage over the term of the agreement. The rate charged (pence per mile) will be confirmed at the start of the agreement. You will not receive a refund if you travel less than the contracted mileage rate over the term of the agreement.
The vehicle should be returned to us in a condition that meets the BVRLA Fair Wear and Tear guidelines otherwise charges may be incurred.
Please be aware that initial rentals are non-refundable.
You will be informed of your vehicle's due date shortly after placing your order. Vehicle lead times vary between manufacturers and models and all dates provided are estimated and subject to change. If you have been provided with access to our Driver Portal you can track the progress of your order online.
With Contract Hire you can amend a vehicle's contracted term and / or mileage after the first six months. This can help spread the cost of additional mileage over the remaining term, or benefit from a reduction in monthly rental where vehicles are tracking under mileage
Amendments to contracts cannot be made in the final six months of lease.
You can manage your vehicle's needs with the Lex Autolease Driver Portal. The Driver Portal can be accessed from any internet-enabled device. You can choose a garage based on performance, location and availability at a time convenient to them with instant booking confirmation.
Collection and delivery of vehicles will be subject to availability and supplier location for a service or mechanical repair. Please give a minimum of 3 working days notice for the collect and delivery service.
Please ensure you give at least 5 working days notice to ensure a courtesy car will be available. When you collect your courtesy car your driving licence will be required along with your DVLA code. You can obtain your DVLA code here - you will need your driving licence number, your National Insurance number and the postcode on your driving license. Please note: Minor repairs such a replacement of a bulb, wiper blades will not qualify for collection and delivery or a courtesy car.
It is essential to service your vehicle in line with the manufacturer's handbook (supplied with the vehicle). Failure to do so could result in your company incurring extra costs for any damage as a result of missing a service. Please ensure that the dealer stamps and dates the service voucher book.
Any repairs required as a result of damage, theft, vandalism, driver neglect or misuse are not covered by any maintenance agreement and are rechargeable to the driver.
If you're thinking of taking your vehicle abroad, please call our European travel line which is detailed on your Driver Card at least 2 weeks in advance of your trip and request a European travel pack. It will include details of our breakdown service in Europe, a VE103 document and a letter authorising you to take the vehicle outside of the UK.
When you call to request a travel pack, you'll be asked to provide the following information;
- Your registration number
- Exact dates the car will be out of the country
- Countries to be visited
Any maintenance costs incurred while the vehicle is out of the country are at your expense, however reimbursements will be considered at the scale of repair charges applicable in the UK. You will be required to produce receipts and translated invoices within 28 days of any expenditure being incurred.
Don't forget when travelling overseas it is recommended that you should take a touring kit of spare parts, a warning triangle and a first aid kit. In many countries these items are mandatory and must be supplied at your own expense. For further details of what is required in the country or countries you're visiting, please ask a representative by calling the European travel line.