Business Terms and Conditions
About Drivespeed Leasing Limited
Drivespeed Leasing Limited is authorised and regulated by the Financial Conduct Authority. Our FCA Firm Reference number is 791845.
As a regulated credit broker and lender, we may introduce you to a range of finance providers who may be able to help you finance your vehicle and provide other products/services, such as vehicle maintenance and servicing packages. We will only offer products from a carefully selected panel of finance providers. We will not refer you outside of this panel. You can ask us for a list of the suppliers who provide our finance. We may receive a fee for introducing you to one of our many lenders who assists with your agreement.
The charge for our services
Drivespeed Leasing charge a fee for their services.
Processing Fee - We charge a processing fee of £199.00 (incl. VAT) for our services. The processing fee is the charged by Drivespeed Leasing for our service and represents the costs incurred for arranging the sale, ordering the vehicle, arranging the finance and organising delivery of the vehicle. The processing fee will be payable by debit, credit card or bank transfer.
Please check your quotation carefully to ensure you are happy with the product, the price summary and our fees.
Vehicle: The make, model, engine and variant of your vehicle.
Term: The length of your contract, this is typically 24, 36 or 48 months.
Annual Mileage: The annual mileage of the contract. This represents the amount of miles you (the driver) intends to travel yearly.
Initial Rental: An advanced rental of usually equivalent to 3, 6 or 9 monthly rentals payable to finance company within 7 to 14 days of delivery. This amount forms part for the hire agreement and is non-refundable.
Processing Fee: The processing fee represents the costs incurred by Drivespeed Leasing Ltd for processing the lease agreement and will be payable within your first payment.
Monthly Rentals: The fixed monthly amount to be paid to the us the finance provider (not in some cases this could be a different finance provider, if this is the case you will be informed at point of order). Personal contract hire agreements include VAT at 20%.
Maintenance: The cost per month for maintenance package. If you wish to take a maintenance package as part of your vehicle, please contact your sales consultant for a formal quotation. Please be aware that without a maintenance package, you will be responsible for all maintenance and servicing costs for the vehicle throughout the duration of your contract.
Total Rental: The total cost per month including the finance rental, maintenance and any other optional extras.
Excess Mileage: Any mileage over the agreed contract is charged at the excess mileage rate. This represents the cost charged in pence per mile.
Road Tax: All of our vehicles come with road tax for the duration of the contract.
Delivery: Quoted delivery "lead times" represent our “best estimate” based on information provided by our brand supplier. Whilst we endeavour to ensure that delivery dates are as accurate as possible, delivery dates are subject to change by the manufacturer and on occasion delays do occur due to production issues Drivespeed Leasing will keep you informed of any known changes to your vehicles delivery date to allow you to make any necessary arrangements as a consequence. Drivespeed Leasing has no control or influence over manufacturer lead times and will not accept any responsibility for any losses or inconvenience caused because of a delay from the manufacturer.
Please be aware that Drivespeed Leasing do not provide the provision of a hire vehicle in the event that your delivery lead time is put back by the manufacturer.
Your vehicle will be delivered in a driven condition to your specified address, provided your address is situated on the UK mainland. If you require Vehicle Transported Delivery (the vehicle is delivered on a trailer/transporter) this can be arranged but an additional charge will be made.
Returning Your Vehicle: At the end of your agreement we will arrange collection to our compound where it will be inspected for any damage by one of our inspectors. All repairs are chargeable which falls outside what is deemed ‘fair wear and tear’. You can find out more about how fair wear and tear guidelines work in our Fair Wear and Tear Guide, which can be supplied upon request, or by clicking the link below
Drivespeed Leasing is authorised and regulated by the Financial Conduct Authority. Our FCA Firm Reference number is 791845. You can check this on the Financial Services Register by visiting the FCA’s website at www.fca.org.uk or by contacting the contact centre on 0845 606 9966.
Consumer Contracts Regulations
This was previously known as ‘Distance Selling Regulations’. For full information on your consumer rights under these regulations, please click here.