Key Facts – Used Car Personal Contract Hire Terms
This is a summary of the key facts regarding the Used Car Personal Contract Hire agreement you are considering and does not form part of the full terms and conditions of the Finance Agreement. It is important that you read the terms and conditions relating to the Finance Agreement when you receive them from the Finance Company as they supersede our Order Form.
Select Car Leasing is a trading style of Select Contracts (UK) Limited, and the firm is authorised and regulated by the Financial Conduct Authority FRN 670832. Select Car Leasing are a credit broker not a lender.
Finance Agreement
➢ Contract Arrangement: Your order will be forwarded to a Finance Company. You will sign a separate Finance Agreement to lease the vehicle.
➢ Terms and Matching Details: Verify that the Finance Agreement's contract term, mileage allowance, payments, maintenance options, and excess mileage details align with your Vehicle Order.
➢ VAT: Rentals are VAT-inclusive at the current rate, with adjustments if VAT changes.
➢ Mileage Allowance: Your contract includes a mileage allowance. Excess mileage incurs charges as outlined in your Finance Agreement.
➢ Contract Amendments: Changes to contract mileage or duration may be allowed, subject to Finance Agreement terms.
➢ Fixed Term: The contract is for a fixed term, with no automatic right of vehicle use after the initial term.
➢ Early Termination: Ending the agreement early will incur fees as stated in your Finance Agreement.
➢ Vehicle Ownership: You will not have the option to own or sell the vehicle.
Vehicle Responsibilities
➢ Vehicle Suitability: Ensure the vehicle on your Order Form meets your requirements.
➢ Warranty: A standard Manufacturer’s Warranty applies from the date of first registration; servicing must follow the manufacturer’s guidelines.
➢ Breakdown Cover: Vehicles come with Manufacturer’s Breakdown Cover from first registration—confirm the duration with the Manufacturer.
➢ Roadworthiness: Keep the vehicle legal and roadworthy.
➢ Insurance: Comprehensive motor insurance is required from delivery until the vehicle's return. Notify your insurer that the vehicle is leased and owned by the leasing company.
➢ Servicing: Adhere to the manufacturer’s service schedule and use a Finance Company-approved garage. Record service updates.
➢ MOT: Obtain a valid MOT three years post-registration or as required by the Finance Agreement.
➢ Maintenance Plan: If included, the Finance Company covers standard servicing, maintenance, and MOT, but you must schedule these services.
➢ Breakdown Cover (Maintenance Plan): The Finance Company provides additional Breakdown Cover under a maintenance plan.
➢ Uneconomical Repairs: The Finance Company can terminate the lease early if repairs become uneconomical.
➢ Pre-Registered Vehicles: Manufacturer Warranty and MOT may expire before vehicle return if contract duration exceeds standard terms.
➢ Road Tax (VED): Included at the rate on the day of signing; subsequent increases are billed separately.
➢ In-car Connected Services: Finance Company may limit support for in-car connected services. Refer to your Finance Agreement.
In-Contract Charges
➢ Late Payments: Delayed payments incur additional charges, including an administration fee.
➢ Penalty Charge Notices: Forwarded to the Lessee for payment, with an administration fee from the Finance Company.
➢ VE103 Form for Travel: Required for taking the vehicle out of the UK; an administration fee applies.
End of Contract
➢ Vehicle Collection: Contact the leasing company or the end-of-contract team (endofcontracts@selectcarleasing.co.uk) 14 days before lease expiry to arrange collection. Rental payments continue until collection.
➢ Return Condition: Vehicles must meet BVRLA Fair Wear & Tear standards on return; non-compliance results in charges.
➢ Excess Mileage: Any mileage over the agreed limit incurs per-mile charges as per the Finance Agreement.
➢ Pro-Rata Mileage: Returning the vehicle early entitles you to a pro-rata mileage allowance based on term duration.
➢ Service Evidence: You are liable for charges if service and maintenance records are missing upon return.
➢ Items to Return with Vehicle:
- Service history or stamped service booklet
- All keys/fobs, including spares and codes
- Handbooks/manuals
- Locking wheel nuts
- Spare wheel/space saver/inflation canister
- Accessories included in the lease cost
