AUTO GENIUS TERMS

 

ABOUT US

As required by the Financial Conduct Authority (FCA), we are providing to you important information relating to our status, the fee we charge and our cancellation charges.

 

Auto Genius is authorised and regulated by the Financial Conduct Authority Registered No : 815297. You can check this on the Financial Services register by visiting the FCA’s website at www.fca.org.uk or by contacting the contact centre on 0800 111 6768.

 

Our registered address is Heathwood, Orchard Rd, Orpington, Kent, BR6 7NS

 

Tel: 07958 599100

 

Auto Genius Limited is a credit broker and not a lender.

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OUR FEES & HOW WE CHARGE

 

Vehicle & Finance Consultation – Free of charge

 

Personal – Bespoke Car Concierge - £350 per vehicle

Recommendations, car builds & specs, sourcing to timescale, brokering whole market, maximum cost savings, managing finance, order management through to delivery.

If you decide not to proceed, advice and sourcing time costs charged at £50 per hour

 

Business – Cars and Vans - £350 per vehicle

Broker fee payable on confirmation to proceed with the order/finance and PRIOR to finance application

 

Used Vehicle Sourcing - £50 per hour

 

For hours accumulated, we will keep you up to date with time spent and total cost - use Auto Genius as a resource for as little or as much you require.

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Auto Genius fees are due on confirmation to proceed with an order or prior to finance application.

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Fees payable prior to finance application and cannot be refunded, even for failed finance.

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OUR FEE COVERS

Vehicle and finance consultation, recommendations, advice, sourcing, broking, quoting, financial savings and management time fee. Includes managing the whole finance process including finance sourcing and quoting, finance application, invoicing and organisation of payment to supplier. Broker fee includes queries going forward to vehicle delivery and beyond if needed. Our fee covers up to 7 hours total management time and after that, out cost is £50 per hour.

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CANCELLATION / RIGHT OF WITHDRAWAL

Due to the time we spend advising, sourcing, brokering, quoting, recommendations, stock checks and then arranging a detailed handover to the supplier, our fee of £350 per vehicle is due once confirmation has been given by you to proceed whether the order goes ahead or not and prior to finance application. There are no exceptions for this, even if you change your mind after providing confirmation to proceed or for failed finance applications. This is applicable on either business or personal applications.

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Vehicle Order: After passing finance and for Personal orders only, you have the right to cancel the vehicle order/contract under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013. You have 14 days, starting from the day that the agreement has been signed by both parties to the supplier/funder that you wish cancel and exit the contract. There may be a process fee cancellation cost depending on funder/dealer/supplier used. As above, our £350 broker fee cannot be refunded in this scenario.

 

DECLINED FINANCE FEES DUE – IMPORTANT PLEASE READ

The majority of our management time is spent advising, sourcing, broking and then arranging a detailed handover to the supplier. Our fee of £350 per vehicle is due once confirmation has been given by you to proceed whether the order goes ahead or not. There are no exceptions for this, even for failed finance applications. This is applicable on either business or personal applications.

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CAR OR VAN DEPOSITS
For car or van purchase or PCP products, sometimes our suppliers or dealers will require a deposit typically £500 - £1,000 and we will advise you as to whether this deposit is refundable should you cancel the order after paying the deposit.
 

PRICE GUARANTEE

We are so confident of providing you with the lowest price on the UK market (at the time of quoting) that we will beat or match any competitor quote. If we can’t do that we will refund any fees*

*Conditions:
Must be a quote from an FCA registered supplier dated within 3 days of the Auto Genius quote
Must be a full written and confirmed quote
Vehicle must be the exact same make/model/spec and on the same terms and to the same delivery schedule
Must be applied for prior to final order confirmation
 

CUSTOMER SATISFACTION GUARANTEE

We are so confident of providing you with the best advice and service that we will refund any fees if you are not totally satisfied (only applies prior to when final order confirmation has been given by you)

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CREDIT APPLICATION FOOTPRINT

Please note that once you have applied for credit, this will leave a footprint on your credit file.

 

COMMISSIONS

From time to time we received commissions from funders, dealers or other suppliers. If you would like to more information relating to the commissions on your order, please e-mail andy@auto-genius.co.uk

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AFFORDABILITY

It is your responsibility to check that the vehicle repayments are affordable for the duration of the contract. By applying for credit you agree that you have checked affordability.

 

REPAYABLE AMOUNTS

You have been provided with all quote details including the Auto Genius fee, process fee (if relevant), up-front and any monthly payments for the duration of the contract. It is your responsibility to check all of the costs prior to applying for credit. By applying for credit, you agree that you have checked all of the costs and repayable amounts for the duration of the term.

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WHAT HAPPENS IF YOU CAN NO LONGER AFFORD THE MONTHLY PAYMENTS ON A FINANCE AGREEMENT?

If you decide to not pay your monthly payments due to not wanting your lease an early termination fee will occur. Please note that if non-payment occurs or you want to terminate the credit agreement, the car or van will be repossessed. If you are unable to pay due to illness/ loss of job etc the funder will decide on a penalty fee.

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DEALING WITH OUR SUPPLIERS & EXCLUSIVITY

We have strategic relationships with the suppliers we introduce you to and you are not permitted to source additional vehicles through them direct without dealing with us first. Due to the fact that we broker the whole market, the optimum deals can change on a daily basis. If you require further vehicles either at renewal or prior to renewal we will source that particular vehicle again by brokering the whole market and in most cases, the optimum price for the new vehicle will be with another one of our extensive suppliers. Please note that our suppliers have agreed to inform us if you approach them directly and if this happens you will be liable to pay our fee of £350 plus any loss of commission. Thank you in advance for your respect in this matter.

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QUOTES FOR VEHICLES

Due to the fact that we broker the whole market, deals can change regularly and without notice. They can also be withdrawn at any time. Information and prices are correct at the time of quoting which can be subject to change due to supply or funder’s terms, dealer discounts or manufacturer’s terms. All quotes are subject to availability and may be withdrawn at any time without prior notice. Please note that final quotes will be dependent on the exact spec of the vehicle. Please note that we do not include for maintenance in our quotes. Please ask for further information if you would like to know more about including this option.
Please note that the initial quotes we provide are what is available via our on-line broker systems, however, if you want to confirm a quote, then we will then obtain an accurate and official confirmed  quote for that vehicle. Please note that there may be a difference between the initial estimate quote and the confirmed quote.

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MODEL/TRIM/SPECIFICATION/COLOUR

Please ensure that you always go on to the manufacturer’s website to check the manufacturer’s specifications for any vehicle that we quote on. Please also check on the final order that the colour specified is correct. There are a huge number of options with both cars and vans and it is vital that you check detailed manufacturer specifications prior to going ahead with an order. 

We recommend that you do some research or a “build” on the manufacturer’s website so that you are clear of the differences in models/engines/spec/trims/options. Once Auto Genius have passed you on to the relevant supplier it is also vital that you re-check that you are 100% happy with the model/engine/spec/trim/options and that it is in stipulated in the correct colour on the final order form. This is your responsibility to check prior to signing the order with the supplier. Auto Genius cannot be held responsible for any change to specification or colour as this responsibility lies with you and the supplier we pass you on to. 

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PAYMENT OF AUTO GENIUS INVOICE

When you wish to proceed with a vehicle, we will issue you an invoice for £350 per vehicle for immediate payment. We will not pass you over to the relevant supplier/funder until this is paid. We can take credit card payments for ease. Please note that manufacturers or our suppliers/funders can change their prices and quotes at any time. Please therefore do not delay in payment as the quote could change between issue of invoice and payment. The Auto Genius invoice must therefore be paid by return. If there was an increase in the quote between when you are sent the Auto Genius invoice and when you pay our invoice and you do not wish to proceed on that deal, we will be happy to broker another optimum priced deal that is available at the time and we will do this for you at no further charge.

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LEASING FAQ’S

WHAT IS LEASING AND WHAT ARE THE ADVANTAGES?

Leasing a vehicle is effectively the same as renting it for a certain length of time, usually for two, three or four years. You choose the make and model of vehicle, how many miles you are going to drive each year and for how long you would like the contract to last. At the end of the leasing agreement, just hand the car back. You will not own the vehicle at the end of the lease. Leasing means you do not have to worry about the depreciation of the vehicle or disposing of it at the end of the contract.

 

Leasing is now an increasingly popular and affordable way to drive a brand new car or van, as you are only paying for the initial payment and a monthly rental, you are not paying to actually own the vehicle. For that reason, initial payments are usually lower and monthly payments are often much more affordable than the expense of owning a car.

 

With leasing, you also benefit from manufacturers’ warranties; road tax is included as well as breakdown recovery. You may also want to consider the option of including a monthly-paid maintenance package for complete hassle-free motoring.

 

Businesses may benefit from additional fleet support and fleet discounts, reduced administration costs and advantageous tax benefits.

 

ARE THERE ANY FURTHER CONSIDERATIONS TO TAKE INTO ACCOUNT WHEN LEASING A VEHICLE?

More and more people are leasing vehicles each year in the UK, and it is worth considering the key facts before you go ahead with your contract.

 

Excess mileage charge

If you drive more miles than stipulated in your contract, excess mileage charges will apply. You will be made aware of what these charges are prior to going ahead with your contract. You will not receive any money back from the contract if you drive less miles than you predicted.

 

Servicing and maintenance

You will be responsible for servicing and maintaining the vehicle to the manufacturer’s guidelines. This will ensure the warranty remains valid. You can take out fixed price servicing, maintenance and tyres for an additional fee which can help spread the cost throughout the term of the lease.

 

Ending the contract early

Depending on the type of contract and timings of cancellation, you may be liable to pay an early termination charge.

 

Fair wear and tear

You cannot permanently customise the vehicle, although non-permanent accessories may be permitted. In addition, the terms of the lease agreement require the vehicle to be returned in a fair condition based on its age and mileage. The BVRLA ( British Vehicle Rental and Leasing Association) provides an industry guide to fair returns standards. Our funding/leasing partners work to these standards. You can find out more on the BVRLA website.

 

IS VEHICLE ROAD TAX INCLUDED?

Vehicle road tax will usually be included for either the first 12 months of the contract or the entire term. You will be advised on this prior to commitment to the contract.

 

IS CAR INSURANCE INCLUDED?

In most cases, the answer is no. As part of the leasing agreement, it will be your responsibility to ensure that the car has fully comprehensive insurance for the length of the lease.

 

Once your car has been registered and there is a delivery date from the vehicle manufacturer, you can then obtain the new registration number so that you can arrange insurance to commence from the day of delivery. The delivery driver may want to see your insurance certificate before he can hand the vehicle over to you.

 

In certain circumstances we may be able to provide a vehicle which is fully insured. Please ask for details on this.

 

We are not authorised and regulated by the Financial Conduct Authority (FCA) for the sale of vehicle insurance.

 

DO YOU PROVIDE GAP INSURANCE?

Yes, Auto Genius can recommend the most cost effective way to purchase GAP insurance through a separate specialist.

 

WHAT INSURANCE IS REQUIRED?

As part of the leasing agreement, you will need to ensure that the vehicle has fully comprehensive insurance for the entire contract term.

 

AM I RESPONSIBLE FOR SERVICING THE VEHICLE?

Yes, all vehicles should be maintained and serviced in line with the manufacturer’s guidelines, as detailed in the vehicle handbook. In most cases, this can be done at your nearest main dealership or independent repairer using the correct parts, oils and lubricants.

 

For those with a maintenance plan, the majority of costs associated with servicing and mechanical repairs are included in your monthly payment. For full details see your contract.

 

WHAT IS “FAIR WEAR AND TEAR”?

The finance providers will expect your vehicle to be returned in line with their “Fair Wear and Tear” policy. Fair Wear and Tear occurs during normal use of the vehicle over time, but is different to damage, which will need to be rectified before the car is returned to avoid any charges from the leasing company.

 

I DON’T KNOW WHAT MY YEARLY MILEAGE WILL BE…WHAT SHOULD I DO?

There may be a number of reasons why you are unsure of your yearly mileage. For example, you may be changing roles, jobs or moving home, you could be given a different area of responsibility to work in or you may gain a new customer or business contact in a new area. We recommend looking at your distance mileage over the last two or three years and considering your personal circumstances and any other external factors which may affect how far you drive each year. It is important to note that excess charges apply in the event that you exceed the contracted mileage.

 

If you think you are going to exceed your annual mileage, or are driving less miles than you thought, please contact your Account Manager or our Client Services Team for advice.

 

WHAT WOULD HAPPEN IF I WANTED TO TERMINATE MY LEASE EARLY?

Lease agreements are fixed-term contracts therefore terminating them could mean you are liable to pay a charge and any excess mileage charges due at that point. Please contact your lease provider/funder for a quote.

 

DOES MY VEHICLE COME WITH THE MANUFACTURER’S WARRANTIES?

Yes, all new and pre-registered vehicles benefit from the manufacturer’s warranty. These may differ between brands. We can provide the warranty details and benefits for the various makes and models.

 

HOW IS THE RESIDUAL VALUE OF THE VEHICLE CALCULATED?

Leasing companies use a variety of factors to estimate the residual value of your vehicle at the end of the lease. This includes information from the vehicle manufacturer, auction prices and historical resale data as well as market trends and changes in tax legislation including, for example, CO2 tax and Benefit in Kind (BIK) tax.

 

BUSINESS AND PERSONAL LEASING

WHAT IS THE DIFFERENCE BETWEEN A PERSONAL LEASE AND A BUSINESS LEASE?

If you are a private individual with no access to a car allowance, business mileage payment or a company provided vehicle, then you will require a personal finance agreement. This could be Personal Contract Hire (PCH) or Personal Contract Purchase (PCP).

 

If you have access to a company car or a car allowance to opt-out of your company car scheme, we can talk you through the advantages and disadvantages of a business or personal lease.

 

BUSINESS OR PERSONAL QUICK GUIDE:

 

COMPANY CAR (“CC”)

PERSONAL CAR (“PC”)

 

CC: Your company or employer takes the agreement.

PC: It’s your agreement.

CC: You will hand your car keys back if you change your employer.

PC: Your car will stay with you if you change your employer.

CC: The credit commitment is in your company’s name.

PC: The credit commitment is in your own name.

CC: Your choice of vehicle may be limited and you will have to keep it for the number of years specified by your company.

PC: Freedom to choose your own vehicle and the length of the contract.

CC: You could be liable for benefit in kind tax.

PC: You are not liable for any benefit in kind tax.

 

There are a number of considerations to take into account when choosing between a business or personal lease. Auto Genius will provide you with as much information as possible so that you can make the right decision based on your own circumstances. If you are a business owner, we will also provide all the technical information to assist your accountant or tax advisor.

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I DON’T OWN A BUSINESS, CAN I LEASE A VEHICLE?

Yes, you can lease a vehicle on a personal leasing option. Many private individuals now see the benefits of leasing. We will talk you through the options available, find out more about the different options for Business or Personal Vehicle leasing.

 

ARE THERE ANY HIDDEN COSTS?

No, there are no hidden costs. Auto Genius only charge if you want to go ahead with the deal. There is a one off charge to cover sourcing, client liaison, documentation, administration fees. These charges will be clearly identified on the written quotation. We are confident that you will save this cost many times over during the course of the lease.

 

HOW MUCH SHOULD I PUT DOWN AS AN INITIAL PAYMENT?

Your initial payment can be flexible depending on your circumstances, and normally would be the equivalent of between three and nine months’ leasing payments for your chosen vehicle. The higher the initial payment, the lower the regular monthly payments.

 

IS MY INITIAL PAYMENT RETURNED TO ME AT THE END OF THE LEASE?

No, your initial payment is not returned as it forms part of the overall cost of the leasing agreement.

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WHEN WILL THE FIRST MONTHLY PAYMENT LEAVE MY BANK ACCOUNT?

Your first monthly payment is normally taken by the funder approximately one month after delivery of your vehicle.

 

WHEN MUST MY INITIAL PAYMENT BE MADE?

Your initial payment is usually taken by the funder approximately 7 to 10 days after delivery of your vehicle.

 

WHY DO I NEED A GOOD CREDIT RATING?

In order to qualify for a leasing contract, you will need to be accepted by one of the lease company's financial providers. They normally look for a “good” or “excellent” credit rating to protect themselves from risk and ensure that all the payments on the lease vehicle will be made, as per the leasing agreement. If you have any concerns about your credit rating, please chat this through with us at an early stage in the process.

 

Credit reference agencies such as Equifax, Experian and Call Credit can provide you with a report of your credit history and help explain your credit score. You can also access free and independent financial advice from Citizens Advice and The Money Advice Service.

 

MY FINANCE APPLICATION WAS REJECTED. WHAT ARE MY OPTIONS?

If your finance application is rejected, Auto Genius will be on hand to let you know about the decision as quickly as possible and offer some advice, depending on your individual circumstances.

 

Credit reference agencies such as Equifax, Experian and Call Credit, can provide you with a report of your credit history and help explain your credit score. You can also access free and independent financial advice from Citizens Advice and The Money Advice Service.

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WHAT ARE THE ADVANTAGES OF USING AUTO GENIUS?

 

1.SMART ADVICE - our friendly advice and expertise comes free. What car to go for? What options to choose? What are the best types of lease cars to choose? There are lots of changes happening in the car industry such as diesel taxation, the trend to petrol over diesel and hybrid vs electric, so the right choice is crucial. We can help you navigate through the choices if you need the help. Alternatively, if you know what car you want, just give us the opportunity to quote

 

2.TIME SAVING - we have a dedicated procurement resource. Virtually all brokers companies are tied to a handful of finance lenders. Auto-Genius is different as we broker the whole market. We are totally independent and are not tied to any manufacturer, broker, buying group or funder. That means we can use this approach to pass on the best deals saving you the legwork in the process

 

3.GENIUS SAVINGS – we are able to tap into the biggest buying groups in the UK giving you deals that you would simply not be able to achieve yourself either on the web or by walking into a dealership. Result = genius savings

 

HOW LONG WILL MY VEHICLE TAKE TO ARRIVE?

How long your vehicle takes to arrive will depend on a number of factors. Factory orders can take from 6 weeks to 6 months to be ready for delivery. Stock vehicles can be delivered in as little as 7 to 10 days. Let us know what timescales you need to work to in order to have your vehicle delivered, and we will be happy to try and accommodate you wherever possible.

 

DO I NEED TO COLLECT MY CAR?

No, in most cases there is free mainland UK delivery of your vehicle to an address of your choice. The vehicle will be driven to you from the supplier. Should you prefer your vehicle to be transporter delivered, please ask if this is possible and we will advise you if there are any associated costs.

 

WHERE DO YOU DELIVER VEHICLES TO?

All our vehicles include free mainland UK delivery to an address of your choice.

 

I’VE PLACED AN ORDER BUT I WANT TO CANCEL IT….WHAT DO I DO?

If you wish to cancel your order once you have agreed to go ahead and signed our contract you are bound by the terms and conditions with the supplier/funder we place you with. Please inform us by email or in writing as soon as possible if you wish to cancel. Once you go ahead, you will not be able to get a refund on our admin/sourcing/processing fee.

 

WHAT MAKES OF CAR DO YOU LEASE?

We are able to source ALL makes and models available in the UK. We will of course discuss your requirements and provide advice and direction.

 

IS BREAKDOWN COVER / ROADSIDE ASSISTANCE INCLUDED?

Inclusion of breakdown cover will usually depend on the specific make of your vehicle and the type of finance contract. We will be able to confirm this with you prior to commitment to the lease.

 

CAN I ADD PRIVATE NUMBER PLATES TO MY LEASE CAR?

Yes, this is normally fine, subject to leasing company acceptance. We can arrange for private number plates to be added to your vehicle prior to delivery. Please inform your us as early in the process as possible as this can take 3-4 weeks to arrange. Auto Genius will be happy to organise this for you at no additional charge, however, please note that the leasing company may make an administration charge for adding and/or removing private number plates.

 

DO YOU OFFER A NATIONAL DELIVERY SERVICE?

We offer free UK mainland delivery to an address of your choice.

 

WHERE ARE YOU BASED?

Auto Genius’s head office is based at Orpington, Kent. We are close to all major motorway networks, and serve clients in every area of the country.

 

DURING YOUR LEASING TERM - I HAVE EXCEEDED MY YEARLY MILEAGE …WHAT ARE MY OPTIONS?

If you have exceeded your yearly mileage, or think that this is likely, please call or e-mail Auto Genius. We will be happy to discuss the options available and calculate the excess mileage charge to date, to estimate what you might have to pay at the end of the agreement. There may also be the option of re-contracting your vehicle based on the higher mileage.

 

WHERE CAN I TAKE MY CAR FOR SERVICING?

Your vehicle must be maintained in line with the manufacturer’s guidelines as detailed in the vehicle handbook. This can be done at either your nearest main dealership or by a VAT registered quality independent repairer using the correct parts, oils and lubricants.

 

I HAVE A MAINTENANCE PLAN….HOW DO I GET MY TYRES CHANGED?

Depending on the type of maintenance plan you have opted for, most tyres can be replaced by several nationwide tyre companies, including Kwik Fit, ATS and National Tyres, with depots all over the country as well as mobile repair units.

 

You will be provided with a “Driver Welcome Pack” with details of all services available with your lease vehicle, including service, maintenance and tyres, and how to arrange replacement tyres in the event of wear and tear, punctures or blow-outs.

 

WHAT IS INCLUDED IN MY MAINTENANCE PLAN?

Maintenance plans vary by provider. We can talk you through the options available and provide you with a quote. Alternatively, please check your maintenance documentation before booking your vehicle in for maintenance or a service so you know exactly what is covered.

 

MY CAR HAS BROKEN DOWN…WHAT DO I DO?

In many cases, roadside assistance will be provided by the vehicle manufacturer for either the first year of the contract or the entire leasing agreement. Please check your “Driver Welcome Pack” or Vehicle Handbook and call the Breakdown Recovery/Roadside Assistance number. We always recommend putting this number in your mobile phone should you need it in an emergency.

 

I’VE HAD AN ACCIDENT IN MY VEHICLE…WHAT DO I DO?

In the first instance, please contact your insurance company and inform your lease company.

 

Check any documentation provided by your insurance company and leasing company regarding the policies and procedures to follow in case of an accident, and keep them with you in your vehicle at all times.

 

WHAT IF MY VEHICLE IS WRITTEN OFF?

If your vehicle is written off or involved in an accident during the term of the lease, you must inform your insurance company and leasing company. You must make sure your vehicle has fully comprehensive insurance throughout the term of the lease.

 

I WANT TO TAKE MY LEASE CAR ABROAD…WHAT DOCUMENTATION SHOULD I TAKE WITH ME?

You are required to inform the leasing company if you wish to take your car abroad so that they can issue you with a “Vehicle on Hire” (VE103) certificate. Make sure you allow plenty of time to receive the certificate by post - there will be a small charge for this. The certificate will entitle you to drive the vehicle in all EU member states.

 

Make sure you have European Breakdown Cover and that this covers you for repatriation of the car to the UK should it suffer significant damage and cannot be fixed abroad. Make sure your fully comprehensive insurance also covers you for travelling abroad, and that you comply with all legal requirements of the country or countries you are travelling in.

 

You can find more specific advice and links to further information from: www.gov.uk/driving-abroad

 

I HAVE NOT TAKEN OUT A MAINTENANCE PACKAGE….WHERE DO I TAKE MY CAR FOR SERVICING?

You are required to ensure your vehicle is maintained in line with the manufacturer’s requirements. Most cars can either be taken to your nearest main dealership for routine servicing or an independent repairer using the correct parts, oils and lubricants.

 

CAN I MODIFY OR ADD ACCESSORIES TO MY VEHICLE?

Yes, you can modify the vehicle providing the accessory can be removed from the vehicle prior to collection at the end of the lease without any lasting damage. You cannot permanently change the vehicle.

 

CAN I CHANGE TO A NEW CAR DURING THE TERM OF MY LEASE?

If you wish to terminate a lease and take out a new lease on another vehicle, there may be early termination charges to pay. Speak to Auto Genius who will advise you of your options.

 

HOW DO I END MY CONTRACT EARLY?

Please get in contact with us if you want to end your leasing agreement early as early termination charges may apply.

 

I HAVE DRIVEN MORE MILES THAN I ANTICIPATED AT THE START OF THE LEASE. WHAT CAN I DO?

Please get in touch with us so we can confirm your excess mileage charge and offer further advice.

 

MY CURRENT LEASE IS COMING TO AN END…WHAT DO I DO?

We advise you start thinking about your next leasing vehicle six months prior to your current agreement ending. We will be in touch to remind you of the end date of your current contract. Speak to us at least 6 months in advance of the end date of your current contract, so we can advise you of lead times for your next vehicle of choice. We work towards delivering your next vehicle on the day your current agreement ends. Where possible, we will also arrange for your existing vehicle to be collected on the same day.

 

It's also worth checking that your current vehicle is up to date on service and maintenance, and to check the vehicle’s Fair Wear and Tear policy to allow plenty of time should any minor repairs need to be made before the contract ends.

 

CAN I PURCHASE MY CAR AT THE END OF THE LEASE TERM?

In most cases you will not be able to purchase the car. The advantages of Personal Contract Hire (PCH) leasing mean that the car is simply handed back at the end of the term and a new vehicle is leased under a new contract. Funders can be approached to see if they would be happy to sell the vehicle to you - please ask us.

 

Some finance options such as Personal Contract Purchase (PCP) and Business Finance Lease do offer the opportunity to buy the vehicle at the end of the contract subject to a final payment. You will have been notified of the cost before committing to the finance agreement. Find out more about business or personal leasing.

 

CAN I EXTEND MY CONTRACT AT THE END OF THE LEASE TERM?

In certain circumstances this may be possible depending on the type of agreement, the finance provider and whether the agreement is regulated or non-regulated. Please contact us for advice.

 

DO I OWN THE VEHICLE AT THE END OF THE LEASE TERM?

In most cases you will not own the car. The advantages of leasing mean that the car is simply handed back at the end of the term and a new vehicle is leased under a new contract.

 

Some finance options such as Personal Contract Purchase (PCP) and Business Finance Lease do offer the opportunity to buy the vehicle at the end of the contract subject to a final payment. You will have been notified of the cost before committing to the finance agreement. Find out more about business or personal leasing.

 

HOW IS MY VEHICLE RETURNED AT THE END OF THE CONTRACT?

Your vehicle will be collected from an address of your choice. The vehicle must meet the “Fair Wear and Tear” guidelines set out by the leasing company.

 

Car and van leasing is simply a long-term agreement that allows you or your company to use a vehicle for a set period of time at a fixed agreed monthly price. It is a cheaper funding solution than buying a new car or van with a bank loan or dealer finance.

 

IS LEASING JUST FOR BUSINESSES?

No, we can supply both business (Contract Hire)  and personal leases (Personal Contract Hire). When a business lease quotation is supplied the price will be shown excluding VAT, whereas a personal lease quotation will have the VAT automatically included for you.

 

WHAT IS THE RENTAL PROFILE? HOW DOES THIS WORK?

Car leasing deals are usually calculated over a 2, 3 or 4 year term. For example with deals that are advertised as 3+23 or 3+35 contracts, the ‘3’ stands for 3 payments in advance, then +23 or +35 equates to the quantity of payments/months you will pay throughout the contract term.

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IS THAT YOUR BEST DEAL? IS THERE A BETTER WAY TO LOWER THE MONTHLY PRICE?

If you take a lease with a 9+35 rental profile your initial payment would increase but this means your monthly payments would be lower. Alternatively a 3+35 means your initial rental would be lower but your monthly payments would increase, so it really is a matter for you.

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IS IT A BASIC MODEL? CAN I ADD OPTIONS TO THE VEHICLE?

Options can be added to the vehicle at an additional cost.

 

IS LEASING THE SAME AS RENTING A VEHICLE?

A lease agreement, whether Business or Personal contract hire, has a set term, such as 24 or 36 months. You can choose the vehicle you would like to lease and have factory options added at an additional cost.

 

HOW LONG DO I HAVE TO WAIT UNTIL MY NEW CAR ARRIVES?

When you place your order with us we will always look into to find you a vehicle with a short lead time if you require this. If a stock vehicle is not available or if you are ordering additional extras, your vehicle will be a factory order. Factory order lead times fluctuate depending on the manufacture.

 

DO I OWN THE CAR?

No, with both ‘business contract hire’ and ‘personal contract hire’ the finance company are the legal owner of the car as shown on the V5 document.

 

DO I HAVE THE OPTION TO BUY THE CAR?

Some of the funders give you the option to purchase the vehicle at the end of your lease. Please ask us towards the end of your contract if you wish to do this and we can contact the funder for you.

 

IS MAINTENANCE INCLUDED?

Maintenance is not automatically included but we can provide you with a quotation for a monthly maintenance plan. This would include the vehicles servicing, tyres, incremental items and MOT’s if the lease runs long enough.

 

SAFETY? WARRANTY?

All lease cars come with the standard manufacturer warranty as supplied at main dealer level.

 

WHAT HAPPENS IF YOU HAVE AN ACCIDENT IN A LEASE VEHICLE? WHAT HAPPENS IF YOU WRITE IT OFF?

If the lease car has been in a road traffic accident then it is the same as any other situation – you would need to immediately get in touch with your insurance company. It is the driver’s responsibility to have the vehicle insured. If you are unfortunate enough to have your vehicle stolen or written off, there may be a shortfall between the value of the vehicle and the outstanding finance amount. If this is the case then we would recommend taking out a GAP insurance policy.

 

The key element is that the vehicle needs to go back at the end of the lease in a reasonable condition if an accident has occurred, it needs to be repaired by an authorised repairer.

 

WHAT IS THE NEXT STEP ONCE I HAVE FOUND A CAR?

Please contact the Auto Genius at sales@autogenius.co.uk and leave an enquiry for us and we’ll get back to you as soon as we can.

 

 WHAT HAPPENS IF I CAN NO LONGER AFFORD THE MONTHLY PAYMENTS ON A LEASE CAR?

If you decide to not pay your monthly payments due to not wanting your lease an early termination fee will occur.  If you are unable to pay due to illness/ loss of job etc it will be decided by the finance company whether a fee will occur.

 

WHAT DOCUMENTS WILL BE REQUIRED FROM ME?

If you would like to take out a lease, you will need you to fill out a finance proposal form. You will need to supply a copy of your driving licence and a recent utility bill as forms of ID, these are required by the leasing providers/funders.

 

WHY ARE SOME PRICES SHOWN AS + VAT?

Business prices are provided with the VAT excluded, if you are interested in a personal lease we will supply you with a price with VAT included.

 

WHAT IF I CHANGE MY MIND, CAN I CANCEL THE VEHICLE ONCE ORDERED?

If you change your mind it isn’t an issue, we can help you find another vehicle that better suits. If you want to cancel your agreement because you no longer require it then again this is fine, but you need to be aware that a cancellation agreement may apply.

 

At the point of order, you will sign a Broker Agreement which forms part of the Authority to Order documentation this allows you to cancel the agreement within 14 days, after this the cancellation fee may apply. Please note, the Auto Genius broker fee is non refundable and due prior to finance or confirmation to proceed with the order

 

HOW DOES LEASING AFFECT MY COMPANY CAR TAX?

Company car tax is affected by the P11d and the CO2 of that particular vehicle. For an accurate quote on the cost of a vehicle and its company car tax please contact us. If you are taking cash for a car from your employer then you do not pay company car tax and so you only need to look at the monthly rate rather than the P11d and Co2 of the vehicle.

 

ARE THERE ANY HIDDEN CATCHES?

All details will be sent to you disclosing all information necessary to the lease/ contract hire agreement – but no there isn’t any hidden charges.

 

WHERE DO YOU KEEP THE CARS?

Cars are either factory orders or in stock via the dealership. So if the vehicle is in stock, it will either be based at the dealerships compound or at the UK port.

 

WHY USE YOU WHEN I CAN GO STRAIGHT TO A DEALERSHIP?

Because we broker all the dealers and the whole market thereby ensuring you get the best deal. If you can get a discount on a car locally, and you are only buying one car, then just imagine how much discount you could get if you were buying 20 cars? We also work with national buying groups and as a result we have a lot of negotiating power which we are using to help you to get a better deal.

 

DO YOU DO PRICE MATCHING?

We do, and if we can find the deal and match the price we will.