Contract Types Using The Leasebam System
There are many different types of leasing packages that can be offered from the brokers and companies within. The job of the company or broker you choose to do business with, is to match what leasing options are on offer to match your requirements as well as locating the right vehicle.
It is fair to say that many people do not know what is the best option for them at the time of asking for a quote, so we have simplified the Leasebam quote system in to 5 types of contract, to get an initial quote and to stimulate conversation into other leasing finance that may be more suitable to you.
Remember you are not entering into any contract with any broker or dealer by asking for a price, so it is very feasible that any information you give to the brokers at this point may not be what you actually purchase after attaining more advice from the brokers who use Leasebam to market their services.
The 5 Types Of Contract
Business Lease and Contract Hire (Options 1 and 2)
By selecting this option you are telling the brokers within the system you are a business which can bring into play certain finance options offered to businesses. You are also saying you will accept quotes excluding VAT, as most brokers will assume you are VAT registered. There are normally more finance houses prepared to assist business owners than private. Businesses can claim back from 50% to 100% of VAT depending if the vehicle is used for private use also.
Remember to add extra information in the notes section, which may get you a better deal. For example, are you a Limited Company, are you part of a larger company as examples?
Private Lease and Contract Hire (Options 3 and 4)
Selecting this option tells the brokers that you would like quotes including VAT and that the finance will be raised using your own personal credit history and score. If you are not leasing a vehicle currently there may be assistance in disposing your owned vehicle. (Only some brokers offer this service).
Private Contract Purchase (PCP) (Option 5)
For some manufacturers this is the most popular form of purchasing a vehicle. By selecting Private Contract Purchase PCP you are telling the broker you want the option of a final price at the end of the contract with possibly the option to purchase and you want prices to include any VAT.
Not All Brokers Are the Same
You will find different brokers specialise in different types of lease contracts, for example some within the Leasebam system prefer not to offer private lease or PCP. This is also true with different vehicle makes, as some manufacturers have their own finance arrangements. In many cases though, brokers can find a better deal than dealerships as they are often confined to prearranged finance arrangements.
