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Do I need to pay a refundable deposit on a short term vehicle?

Frequently Asked Questions

Do I need to pay a refundable deposit on a short term vehicle?

Depends on the type of contract you are on, either SHort Term Fixed or Short Term Flexible, the type of company you are and of course your credit score. Our underwriting team will inform you of this as part of their credit checking process if a deposit is required.

The refundable deposit will be returned, usually 28 days after the vehicle is returned. This can be longer depending on the circumstances and the condition of the vehicle.

If you owe money, we may set deposits against the amount due to us. If there is a abalance left over, we will remit this to you or hold as credit for future use. All deposits are returned to the bank details where your Direct Debit is set up. Please ensure the Direct Debit is still active.

Other FAQ's

Do you have a short term vehicle availability list?

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What is the difference between fixed and flexible short term leasing?

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Does my short term lease rental include insurance?

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Can I have a short term vehicle without a credit check?

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What is a cross company guarantee?

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What happens if the car is accident damaged, to the point of being written off by the insurance company? Am I liable for any shortfall in value?

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What is a “Form of Indemnity”?

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How do I pay my initial payment?

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Can I choose when my Direct Debit comes out?

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How many people can I have on my insurance?

Click to read FAQ »
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Short Term Car Leasing Ltd t/a Cocoon Vehicles Ltd (06113683) is authorised and regulated by the Financial Conduct Authority (711074). We act as a credit broker not a lender. We can introduce you to a limited number of lenders who may be able to offer you finance facilities for your purchase. We will only introduce you to these lenders. We may receive a commission payment from the finance provider if you decide to enter into an agreement with them. You may be able to obtain finance for your purchase from other lenders and you are encouraged to seek alternative quotations.

If you would like to know how we handle complaints, please ask for a copy of our complaints handling process. You can also find information about referring a complaint to the Financial Ombudsman Service (FOS) at financial-ombudsman.org.uk

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