Looking at leasing a vehicle? Here's your guide to the most common abbreviations, terms and technical jargon you're likely to come across.
Just let us know if there's anything you'd like explaining by either calling us on 01494 899262 or via email firstname.lastname@example.org.
The administration fee, or acceptance/processing fee, covers admin costs like registering the deal, setting up finance and the issuing any documentation.
Administration fees are normally charged on signing of the order form.
Annual mileage refers to the number of miles you expect to drive each year.
Your annual mileage limit is agreed at the start of your contract. So, it’s important to consider this carefully, as exceeding your mileage limit will result in an excess mileage charge.
The best way to avoid the charge is to set a realistic limit upfront.
Benefits-in-kind is a taxable benefit received by employees in addition to their salaries such as a company car and fuel allowance.
A broker is a middleman between buyers, manufacturers and leasing companies. They are independent and work to find the best deal for customers, while also providing help and support on the leasing process.
Car Leasing Solutions Limited is a credit broker and not a lender.