The team at Autohorn/1st Car Leasing are committed to treating our customers fairly, ensuring our products and services are clearly understood, and to ensuring we are compliant with the principles and practices set out by our governing/regulatory bodies, trade associations, and processes created internally.
Please read through the following headings, so that you are satisfied with the suitability, and affordability of your vehicle contract, or fleet management service from us.
This page also provides further information on the bodies that we are a member of, or regulated/authorised by.
Autohorn/1st Car Leasing operate in a price driven, competitive market. When providing you with a quotation we competitively tender funding rates across our broad panel, whilst applying preferential manufacturer terms, so as to reach the lowest possible overall cost for each quotation supplied.
We do not choose the funder that suits us best, or provides us the best benefit, instead we work to consistently provide best rate, as well as to consider the provision of the right level of customer service, and whole life cost, thus best representing the interests of our customer with each vehicle quoted/supplied.
Our main vehicle leasing/funding packages are broadly summarised as follows (full terms will be supplied for you to sign up to once you proceed with any order):
This is the most common method for the funding of business vehicles. Ownership does not take place, instead a fixed term hire contract is agreed, along with a predicted mileage.
Road tax is included, and contract durations typically range from 24 months to 60 months. It is optional to take a full maintenance contract that covers; servicing, tyres, wear and tear parts, and usually breakdown cover too
Please note that a contract hire cannot be handed back early without charge. As a general rule, subject to length of time on lease/remaining payments, there is a 50% of remaining payments ‘early termination charge’ that could apply, do not enter in to a contract hire, unless you are happy to commit to the lease duration offered.
With Contract Hire, where applicable, VAT is reclaimable at: 50% on the finance element of a rental, and 100% on the maintenance element, should you opt for this cover. On hand back the car or van will be inspected, and charges will only be made for damage outside of fair wear and tear.
A guide can be requested from us at any time, so that you can appraise condition before expiry / collection of lease.
Mileage is also important to estimate correctly, and to monitor during a lease, so as to avoid hand back excess mileage penalties. We will contact you during your lease, to see if a mileage re-quote is required, or is possible, and we advise that you keep updates on mileage versus contractual allowances.
Terms vary from funder to funder, and full conditions will be supplied with every contract we arrange, please review before sign off on all/any orders you place.
As per Contract Hire terms above, though Personal Contract Hire rentals are quoted inclusive of VAT.
Please review to ensure you understand any arrangement you enter in to.
The VAT and Tax efficiencies of contract hire, also apply to finance lease, though this is a differently structured funding method, available to business users only.
Finance lease is not like Hire Purchase, Lease Purchase, or Contract Purchase. You do not end up with ownership of the vehicle. Instead, you settle the entire value of the vehicle over a set period, which is typically 24 months to 60 months
A Final balloon payment is optional, and there are options to control the level of initial payment made.
Once the full repayments have been made in full (or at an early settlement stage if required, where a figure can be provided) there are options available to you.
You may choose to nominate a 3rd party to be invoiced by the leasing company/funder with whom you are contracted, the 3rd party would then pay the agreed amount, and would receive the V5 from the leasing company/funder.
You would at this time, receive the proceeds of sale, minus a charge of between 0% and 5% levied by the leasing company/funder.
At this point the finance lease is closed off and the provider has no further interest in the vehicle.
Alternatively, you may wish to carry on with the vehicle in a ‘secondary hiring period’. In order to do this you will be charged an annual peppercorn rental, and this will allow you to keep the vehicle until you are ready to exercise your right to sell to a 3rd party.
Affordability: Please ensure you are comfortable with the affordability of any agreement that you enter in to, particularly in respect of the terms noted above with the finance methods listed.
Further information on the bodies that we are members of, are regulated by, or authorised by:
BVRLA: The British Vehicle Rental & Leasing Association
Our membership number is: 1919
FCA: The Financial Conduct Authority:
Our licence number is: 672629
ICO: The Information Commissioners Office:
Our registration number is: Z7997455
Financial Ombudsman Service