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Business leasing, also known as Business Contract Hire (BCH), may be one of the more cost-effective and tax-efficient ways for a UK business, especially those that are VAT-registered, to source Lexus cars.
1. Initial Rental
The Initial Rental is the amount you pay at the start of the contract hire agreement. The amount can range between 1 to 9 monthly rentals.
2. Monthly Rental
Depending on the size of your Initial Rental, this determines your monthly rental payments. Once you choose the term length of your agreement and expected mileage, the rental amounts will be spread equally across the months. It is important to add the correct expected mileage at the start of the agreement as charges will be incurred if it is exceeded. You can choose to include optional maintenance packages in the monthly rental costs as these are 100% VAT reclaimable. Find out more about maintenance packages in our Q&A section below.
3. End of Agreement
Once your agreement finishes and you’ve made your final monthly rental payment, it’s time to return the vehicle to us. The vehicle will be inspected and assessed for wear and tear against the British Vehicle Rental & Leasing Association guidelines. These guidelines will have been shared with you at the start of the agreement. You may be required to pay a charge if any damage is noted beyond the usual wear and tear guidelines or you exceed the pre-agreed mileage limit.
Yes, a maintenance package can be added to your agreement. This allows you to spread costs of routine servicing and maintenance over the course of the term length.
If your vehicle requires any maintenance or servicing, this would be covered under the maintenance package. Without the maintenance package, you will have to organise and pay for these services and maintenance needs yourself.
You will only have to pay one monthly payment which covers routine servicing, maintenance, wear and tear repairs. This keeps you protected against most standard vehicle upkeep costs. All maintenance work will be completed in a Lexus dealer, with genuine parts included and warranty protected.
The maintenance package excludes accident damage, vandalism and repairs due to misuse or negligence.
*Any increases in Vehicle Excise Duty (VED) fees during the rental period are the responsibility of the customer.
**Lexus Breakdown cover is provided by the manufacturer for 1 year if you chose customer maintained but is extended for the full length of the contract if you choose KINTO-maintained.
Steven Eagell Limited is authorised and regulated by the Financial Conduct Authority (FCA Reference Number 671531)as a credit broker. We are not a lender or an independent financial advisor. In the first instance, we will introduce you to Lexus Financial Services and provide you with information regarding the finance products available to enable you to decide whether a particular finance product from Lexus Financial Services is right for you based on the information provided. In the event that Lexus Financial Services is not able to provide credit, we will refer you to another trusted credit broker already known to us. This credit broker will attempt to source credit for you through an alternative panel of lenders.
You are not required to use Lexus Financial Services or any other lender introduced by our trusted broker We do not charge you a fee for an introduction to Lexus Financial Services or to our trusted broker but we will receive a commission if you use their services, this is normally a fixed fee or a fixed percentage of the amount you borrow. The level of commission will vary dependant on the product and the lender that you use. We will inform you of the amount of commission that we will earn in good time before the finance agreement is entered into and ask you to consent to its payment. You do not have to take our finance. You can arrange funding of your vehicle elsewhere and in some cases it may be cheaper.
Steven Eagell Limited is also an appointed representative of Ingeni Services Group Limited, Unit 11, Atlas Works, Foundry Lane, Earls Colne, Colchester, CO6 2TE, which is authorised and regulated by the Financial Conduct Authority. Ingeni Services Limited's (FCA Reference Number 747381) Ingeni Services Group Limited business is to act as an agent on behalf of the insurer for insurance distribution activities only. We do not charge you a fee for our services as an insurance intermediary. We will earn a commission from the insurance provider for introducing you to them. The nature or level of commission we receive will not alter our advice to you and will depend on the product that you purchase.
For full details of our FCA Commission Status Disclosure please click here
