A Guide to Leasing
Why Leasing
Is leasing right for me?
If you like an affordable way to drive a new vehicle every 2- 4 years avoiding all costs associated with ownership then leasing is the right choice. Just choose a vehicle, drive it for the duration of the contract, do not forget to put fuel, and return the vehicle at the end of the lease contract.
Who can lease a vehicle?
Any business can inquire more info about leasing.
Why choose leasing?
Leasing has always been a popular service, due to heavy depreciation, unexpected repair costs and insurance costs associated with vehicle ownership. Nowadays, an increased number of businesses are considering the option of having a leased vehicle instead of purchasing a vehicle. Leasing implies you can drive a new vehicle every 2-4 years, avoiding all costs that may arise from owning a vehicle. You just hand in the keys at the end of the lease contract and upgrade to a new vehicle, avoiding the hassle of having to sell your old vehicle and having to finance a new one. Leasing equals peace of mind.
What is the Process
Choose your vehicle and duration
We make every effort to ensure it is as simple as possible to find a vehicle that is suitable for your needs.
Get your free quote
Our company has considerable experience in the motor trade industry and are well qualified to offer advice on every make and model we represent.
Secure and confirm your order
Once you sign the contract, we ask you to provide a security deposit, which will be held by us as guarantee for the due performance of your lease obligations and shall be returned following the expiration of your lease period, without interest.
Updates
We will update you on a regular basis with the latest information on the progress of your order.
Delivery
We shall liaise with you to arrange a pick up date from our showrooms. Upon delivery we will require a copy of a standing order from your bank for the payment of all monthly fees due. We give you the keys and you can start driving your newly leased vehicle. It really is that easy, and all that is left is for you is to enjoy your new vehicle and remember to put fuel.
Our promise
To provide our services in the best possible way to ensure we meet your corporate fleet needs while reducing your administration and operational costs.
Key Benefits
Fixed monthly payments
Leasing offers fixed cost motoring, which benefits cash flow and offers peace of mind for your business
Minimal capital expenditure
With low monthly leasing fees and low initial outlay, leasing offers minimal capital expenditure. Companies can invest their capital in the growth of their core business instead of spending capital in acquiring fixed assets
No depreciation risk
Most vehicles lose between 40%-50% of their value during the first four years, however, if you choose leasing all the risks/costs associated with the after-sale process of the vehicle fall on us.
Just hand back the keys
Avoid all the hassle of owning a vehicle, paying any related costs, having to sell the vehicle and having to finance a new one. Simply hand us the keys and upgrade to a new one.
Upgrade to a new vehicle
Drive a new vehicle every few years and benefit from an ever-improving standard spec and safety.
VAT recoverable
100% of VAT is recoverable if the vehicle is a commercial vehicle.
Tax exemptions
All costs (except fuel) are included in the rent and allowed as tax deductible expenses.
Tax penalties
There are no tax penalties, whereas in own bought company saloon vehicles, they are penalized with a deemed interest income on the company for seven years (or years in ownership if less than seven) and is taken at full value of the vehicle including VAT for the duration of this ownership.
Frequently Asked Questions
Who is the registered owner and keeper of the vehicle?
CTC Auto Leasing Limited is the registered owner and keeper of the vehicle.
What does the monthly lease fee include?
The monthly leasing fee covers all the vehicle needs over the lease agreed period which includes the vehicle cost, road tax, comprehensive insurance, tyre change every 40.000 km, scheduled maintenance costs, other body repair costs, wheel alignment, MOT, courtesy / replacement vehicle in case of unavailability due to breakage or total loss, 24/7 road assistance.
When do the payments begin?
Commencement date is the date you pick up your car.
When will my payments be taken?
The monthly rental fee shall be payable in advance, on the first day of every month, via standing order.
Can I lease a car without a deposit?
A security deposit equivalent to the number of 3-6 monthly rental fees, depending on the vehicle price category, not inclusive of VAT is required upon the vehicle order confirmation as a minimum guarantee of good compliance with the terms of the contract and is refunded at the end of the lease period.
Are tyres included in the monthly lease price?
Tyres will be replaced without cost due to normal wear, subject to having travelled at least 40.000km following the latest replacement.
Who is responsible for an MOT?
You will have the responsibility, upon such notice being given by us, to arrange for the vehicle to be taken for inspection at an Authorized Motor Vehicle Inspection Center (ΙΚΤΕΟ/MOT) and whenever this is required from the relevant law. The cost for the technical inspection shall be reimbursed to you upon submission of a copy of the relevant certificate and the payment receipt from the Inspection Center.
When is a replacement vehicle offered?
In the event the vehicle is immobilized by reason of an accident or mechanical fault, we undertake to provide you with a replacement vehicle, not necessarily of the same characteristics of the leased car though, within 72 hours from reporting the immobilization. The replacement vehicle shall be offered until the vehicle is repaired or until the expiry date of the lease agreement, whichever occurs first.
Is there a replacement vehicle for a scheduled service appoinment?
We do not undertake to have a replacement vehicle during service.
Can I drive my vehicle within the Turkish occupied territory of Cyprus?
The lease agreement is valid for the geographical area controlled by the Republic of Cyprus only and specifically excludes any other territory, including Turkish occupied territory of Cyprus. By crossing the borders, the driver automatically is in breach of the insurance agreement.
What happens when my lease expires?
Simply hand us the keys, and upgrade to a new vehicle with no hassle and no stress.
