Unlimited Mileage Lease
Unlimited Mileage Lease is for High Mileage Users where Contract Hire is not always suitable.
Unlimited Mileage Lease contract terms from 24 months up to a maximum of 60 months.Ideal for Courier Services and High Mileage Users with funders requiring a minimum of the last 3 months bank statements.
Directors Guarantees would be mandatory on New Start Limited Companies.
Ideal for VAT registered companies who want to handle the administration of their own vehicles and have the asset shown on their balance sheet.
The whole cost of the vehicle is depreciated over the contract term, providing a fully repaid alternative to finance lease .
The vehicle must be maintained and fully comprehensively insured by yourself. All rentals are subject to VAT. The asset and liability will appear on your balance sheet.
Due to the tax status you cannot own the vehicle during or at the end of the primary period, it must at some point be sold on to a third party.
At the end of the contract all sales proceeds less fees are returned to the customer.
Vat is charged monthly on your re-payments which may help with cash flow.
- NO excess per mile charges
It is not easy to accurately determine the mileage per year for a driver. With this agreement you will enjoy total freedom to do as much or as little as required.
- Change or sell your vehicle later in the agreement
We appreciate that your circumstances may change so you have the option to settle off or part exchange your vehicle later in the agreement. This is a popular choice because you are always assured of equity if you continued to the end of the term
- Damage to the vehicle
We understand taking a contract hire agreement is a risk and many businesses have fallen foul of inflated invoices for minor damage when the vehicle is returned. When part exchanging your vehicle with us, we do not ask you to repair your vehicle, the valuation is based on the finish mileage and its condition, this can be a significant saving to you.
- Save on Nearly New
Take advantage of our Nearly New and Pre-registered vehicles where that costly initial depreciation has already gone. We all know that the value of a new vehicles plummets the minute they are driven out of the showroom.
- Buy with Confidence
All our vehicles pass a fully comprehensive inspection, they are prepared, valeted, and serviced if required. All vehicles come with the assurance of manufacturer’s warranty. You may pay a deposit before taking delivery, but do not worry, the contract doesn’t start until you are completely satisfied and signed the delivery note. This is a no risk guarantee to you.
- Terrific for your Cash Flow
We know this is of paramount importance to you. You can take advantage of our low rentals; low deposit and no deposit can be arranged. This enables you to put your well-earned money back into areas that give you much better financial returns.
- Vat Qualifying Cars saves you more money
Payments are based upon the price of the vehicle net of vat, which again reduces the cost to you providing you are vat registered.
- Free Delivery
Your vehicle is delivered free of charge to any address in mainland UK.
End of Unlimited Mileage Lease Options:
- You can choose to continue using the vehicle at the end of the primary period for one further monthly payment annually. At any time, you can act on the leasing companies’ behalf to dispose of the vehicle to a third party. You would need their consent on the sale price, and they would charge you a small fee on the sale
- You can hand the vehicle back at the end of the primary period. We can arrange collection for disposal. You would receive what we consider to be a fair-trade value for the vehicle less any charges imposed by the leasing company. If you would like a free estimate of the vehicle value, please complete the Valuation Form attached and scan/email to [email protected] or fax to 0845 230 4477.
- In your unlimited mileage lease agreement, it states you can never own the vehicle; we can refer you to a third party and would charge one further monthly payment
- You can sell the vehicle on the leasing companies’ behalf. You would need their consent on the sale price, and they would charge you a small fee on the sale.
- You can Part Exchange the vehicle with us, kindly complete the Valuation Form attached and scan/email to [email protected] or fax to 0845 230 4477. Let us know in advance your ideal replacement vehicle, you can visit www.eflvehicles.co.uk to give you some ideas and view all our latest offers. This would also be subject to credit approval on your possible replacement vehicle.
With this information, we hope you put your trust in EFL Vehicles Ltd on your next vehicle purchase.