When entering into a Business Contract Hire (BCH) or Finance Lease (FL) agreement, you have the option to add a lease maintenance package for a fixed monthly fee. This package covers the costs of servicing, maintenance, and repairs, and is known as a "funder maintained" agreement. Alternatively, a van lease agreement without maintenance is referred to as a "customer maintained" lease.
By opting for a maintenance package, you can have peace of mind knowing that any unexpected vehicle repair expenses will be covered.
What does the lease maintenance package include?
You can add a vehicle maintenance pack to any car or van leasing contract. The maintenance package will cover anything that needs repairing or being replaced during your vehicle lease.
Funder maintained vehicle lease agreement includes:
- MOT
- Routine servicing (All vehicles are serviced in line with the manufacturer's recommended servicing intervals)
- Mechanical repairs
- Tyres (Our approved suppliers fit premium brand tyres. We replace all damaged tyres and any tyres with a tread depth of 2mm or less across the central 3 quarters of the tread band - the legal minimum is 1.6mm)
- Batteries
- Exhausts
- Breakdown cover (including roadside repairs when possible)
- Road tax
- Replacement vehicle (available at a small additional cost)
What's not included in a funder maintained vehicle lease?
- Driver error or driver-induced faults
- Accidental damage
- Missing/broken items
- Vandalism or stolen items
- Windscreen and glass replacement
- Fueling error
- Lubricant and fluid top ups between service intervals, for example, AdBlue®
To ensure your vehicle remains covered under the manufacturer's warranty, it is important to have it serviced regularly. These services can be scheduled either after a specific period (e.g. annually) or after accumulating a certain mileage. Additionally, if you lease a vehicle for 36 months or more, it is a legal requirement to have it undergo an MOT test.
The cost of maintenance is not fixed and can vary depending on factors such as the type of vehicle and the lease agreement you choose. Naturally, higher mileage will lead to increased costs as it causes more wear and tear on components like tires. Consequently, longer-term lease agreements will incur higher fees for servicing and maintenance.
What's included in a customer-maintained lease agreement?
A non-maintained van lease includes:
- Road tax
How does the maintained agreement work?
Upon starting your agreement, we will provide you with the necessary documentation along with a contact number to book any servicing, maintenance, or repairs needed under your agreement. You will be scheduled an appointment at a funder-approved dealership, and you must take the vehicle in at the agreed-upon time. Furthemore, if your finance provider mandates the use of an approved dealership, you must seek their approval beforehand.
Is a funder maintained van agreement right for me?
At Commercial Vehicle Contracts, we prioritise finding the most suitable agreement for your needs. Therefore, we will never suggest a product that doesn't align with your requirements, and the final decision is always yours to make.
When providing you with a quote, we will present options with and without lease maintenance package. These quotes will enable you to compare and evaluate your choices. Ultimately, it is entirely up to you to decide what suits you best. Some drivers prefer the peace of mind of a maintained agreement that offers comprehensive coverage from the beginning. Meanwhile, other drivers want full control over their vehicle maintenance.
Opting for a maintenance agreement is not compulsory. However, it is important to note that, in this case, you will be responsible for maintaining the vehicle yourself. This includes covering the costs of both expected and unexpected repairs, as well as tire punctures. Some customers who choose a non-maintained agreement opt to set aside extra funds each month to assist with the expenses that may arise if any vehicle issues occur.
Benefits of a funder maintained lease agreement
- Fixed monthly cost
You'll never get charged for anything you didn't expect.
- Value for money
With our industry expertise, we keep costs much lower than you'd find as an independent customer.
- Quality of work from fully qualified dealer approved technicians
Your vehicles will benefit from quality workmanship and the highest standard of care from trained experts.
- Reduced downtime
Approved technicians mean minimal downtime and disruption to your business. We will look after you and your vehicle.
- No unplanned vehicle repair bills
No more unexpected expenses. You're fully covered.
- Tax benefits
Claim back 100% of the maintenance VAT element of your agreement (VAT registered businesses only).
- Single point of contact and dedicated Account Manager
We assign each customer a single point of contact for all account management needs, including routine servicing and maintenance queries.
Funder maintained vehicle leasing provides a comprehensive solution to your maintenance requirements, offering both time and cost savings. Whether you are leasing a personal car, a business van, or a fleet van, we highly recommend considering lease maintenance package.
If you are unsure whether a maintained lease agreement is suitable for you, please don't hesitate to reach out to our team. We will be happy to assist you in making the right decision.
