v What is the initial payment/deposit? - Short Term Car Lease & Long Term Car Rental Offers
 

FREQUENTLY ASKED QUESTIONS

What is the initial payment/deposit?

Short Term Car Leasing available on Flexilease or Fixed Contracts

The Short Term Vehicles are broken up into 2 categories; Fixed and Flexible. Depending on the tariff you go on will depend how the initial payment and/or deposit is made up. But here are the general rules:

Flexible Short Term Contracts:

Due to the way we take these from the supplier the Initial Payment is usually made up of 1 Period Rental plus VAT, Refundable Deposit (Equivilent to 1 payment inc. VAT), Administration Charge and a Delivery Charge. Payments are then usually taken every 28 days or Calendar Month until the vehicle is returned. The vehicle is assessed and the refundable deposit is refunded less any charges for damage or excess mileage, etc.

Fixed Short Term Contracts:

The process for Short Term Fixed contracts is much simpler. Their is an initial payment followed by the payments remaining in the contract. For Example. 6 Month Contract on a vehicle will have an initial payment followed by 5 monthly direct debit payments until the vehicle is returned.

Terms and deposits may differ if you do not meet the requirements of the credit assessment and/or you are a non-status customer or a new business start-up.

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

 

For complaints information when a transaction is completed online, please access the Online Dispute Resolution platform at http://ec.europa.eu/consumers/odr