Pre-Contract Credit Information

Company Registration Number: 10231513
FCA Registration Number: 752729
Registered Office: Upton House, 4 Baldock Street, Royston, Hertfordshire, SG8 5AY
Phone: 0333 202 6668
Email: [email protected]
Website: www.motorlet.co.uk

1. Key Features of the Lease Agreement

• Product Type: We offer Personal Contract Hire and Business Contract Hire

• Lease Term: We offer contracts from 6 to 60 months

• Total Amount Payable: This varies depending on factors of your agreement.

• Monthly Payment: This varies depending on factors of your agreement.

• Initial Rental Payment: This varies depending on factors of your agreement.

• Mileage Allowance: We offer contracts from 5,000 to 50,000 miles per year, depending on contract length.

• Excess Mileage Charge: Varies depending on the contract and vehicle.

• Option to Purchase: No option to purchase; vehicle must be returned at the end of the lease term.

2. Credit and Payment Terms

• Total Credit Provided: Varies depending on the contract.

• Interest Rate: Fixed at 0% (this is a leasing agreement with fixed payments, not a loan with interest)

• Payment Frequency: Monthly

• Total Amount Payable Over Lease Term: Varies depending on the contract.

Note: Payments are fixed for the duration of the agreement unless there are changes to VAT or other taxes or costs that impact the overall cost.

3. Additional Costs and Fees

• Processing Fee: £250 + VAT (£300 incl. VAT), payable upon confirmation of the vehicle order. This covers the administration and arrangement of your lease agreement.

• Early Termination Fee: If you end the agreement early, fees may apply.

• Excess Mileage Charge: Varies per mile if you exceed the agreed annual mileage limit.

• Condition and Refurbishment Fees: The vehicle must be returned in good condition (subject to fair wear and tear); any repairs needed to meet return standards may result in additional charges.

• Maintenance Package (if selected): Optional maintenance packages are available for an additional monthly fee. This covers servicing, repairs, and routine maintenance.

4. Right to Withdraw

• Cooling-Off Period: Regulated consumers have the right to cancel this agreement within 14 calendar days of signing, without any penalty. Beyond this period, cancellation charges as specified may apply.

5. Your Responsibilities

• Vehicle Use: You must use the vehicle in accordance with the agreement terms and keep it in good condition.

• Insurance: You are responsible for insuring the vehicle fully comprehensively throughout the lease term.

• Maintenance and Repairs: Unless a maintenance package is selected, you are responsible for maintaining and servicing the vehicle as specified by the lease terms.

6. Commission Disclosure

Motorlet Limited may receive a commission from the finance provider for arranging this lease agreement. The amount may vary depending on the finance provider, product, and volume of business. You have the right to request information about the commission we receive in relation to your lease agreement.

7. What Happens at the End of the Agreement?

• Vehicle Return: At the end of the lease term, you will be required to return the vehicle to the leasing company.

• Excess Mileage and Condition Charges: If the vehicle exceeds the mileage limit or is not in the agreed-upon condition, additional charges may apply.

• Renewal Options: You may have the option to enter into a new lease agreement at the end of the current term, subject to approval and current market conditions.

8. Complaints and Dispute Resolution

If you have any concerns about this agreement or our service, please contact us:

• Email: [email protected]

• Phone: 0333 202 6668

If we cannot resolve your complaint, you may refer it to the Financial Ombudsman Service or, as a member of the British Vehicle Rental and Leasing Association (BVRLA), you may also contact the BVRLA for further assistance.