All leased vehicles are brand new, so your businesses vehicles will look a whole lot better on Manx roads
Your businesses vehicles are brand new, with a full manufacture warranty; so they will never be off the road or costing you a fortune in repairs
You can even include maintenance and servicing, so your business can budget accordingly knowing the fixed costs of its vehicles
Hailing from Maughold, Erika Kelly is a full time 20km race walking athlete who has her sight set on representing Great Britain at the Olympic Games.
Erika’s 2019-20 season has just finished and Rex Leasing have supported her all the way through. Erika notched up some fantastic results and even gained her first full GB selection this season. We look forward to being part of Erika’s continued success.
The difference here is the VAT. A VAT registered business can claim the VAT back, so it works out cheaper for any VAT registered business.
No, you can enter into a lease agreement without any large upfront payment.
If you damage the vehicle, you would be expected to have it fixed, the same way you would if you owned it. When you hand the vehicle back it must be in line with the BVLA's fair wear and tear policy.
No, perhaps one day, but not at this moment in time.
Yes, just as it would be if you purchased the vehicle, your Isle of Man log book is in your name and you are the registered keeper for the duration of the contract.
Where possible we will try and obtain the vehicle locally, however in most cases they are supplied by our dealer network in the UK; the main driver of sourcing the vehicles from the UK is the price difference.
Yes, Rex Leasing will be happy to take your current off you as a part exchange.
The car is simply returned. You can then decide whether to lease again, or walk away.
Unfortunately, insurance is not included as part of the standard monthly car leasing price. This has to be arranged separately by the individual or business leasing the car.
Maintenance covers all routine maintenance, servicing, tires, batteries, exhausts and any necessary car repair costs but not accident damage.
If you go over your agreed mileage, there is a small surcharge to pay for each mile above this. This is usually in the range of 1-11p per mile and changes from car to car (ask you’re advisor what the excess is on the specific deal you’re looking at). Example: if the pence per mile charge is 3p and you go over the agreed mileage by 1000 miles, you will be charged £30.00. On the Isle of Man you will struggle to exceed the mileage.
The minimum period you can lease out for is 24 months.
If you want to end your car lease before the agreed contract period is up, you need to negotiate a settlement with the finance provider. This is usually around half the value of your remaining payments but can vary from funder to funder.
A lot of people are unsure as to what the payment structures of personal car leasing and contract hire actually mean. Here is a simple breakdown with an example:
Example - 3 + 35. This would be a 3 year contract made up of 36 individual monthly payments. The initial rental is 3 x the standard monthly rental amount, followed by 35 standard rentals. So, if the standard monthly payment was £119.99, the initial payment would be £359.97, making the contract 1 payment of £359.97 and then 35 payments of £119.99.
There are certain criteria which need to be met in order to get a car lease contract. It is essential that you have to be over 21 years of age, hold a valid UK driving licence, have 3 years' employment history and a reasonable credit rating. Without these 4 profile requirements, no finance company will consider you for a lease.
Browse our huge range of modern vehicles available for leasing right here on rexleasing.im
Contact us with any questions, arrange a test drive, organise affordable finance and make an initial payment.
Whether on or off island, we arrange shipping and delivery of all vehicles to your home or office.