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A Guide to Leasing

Why Leasing

Is leasing right for me?
If you like an affordable way to drive a new vehicle every 2-5 years avoiding all costs associated with ownership then leasing is the right choice. Just choose a car, drive it for the duration of the contract, don’t forget to put fuel, and return the car at the end of the lease term.

Who can lease a car?
Any individual or business can inquire about leasing.

Why choose leasing?
Leasing has always been a popular service, due to heavy depreciation, unexpected repair costs and insurance costs associated with car ownership, more and more businesses and private individuals are looking at the option of leasing. Leasing means you can drive a new car every 2-5 years, avoiding all costs that come with owning a car. You just hand in the keys at the end of the lease contract and upgrade to a new one, avoiding the hassle of having to sell your old car and having to finance a new one. Leasing equals peace of mind.

What is the Process

 

Choose your car and duration
We make every effort to ensure it’s as simple as possible to find a vehicle that’s 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 security for the due performance of your lease obligations and shall be returned following the expiration of your lease term, 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 sums due to us. We give you the keys and you can drive off. It really is that easy, and all that is left is for you is to enjoy your new car, and remember to put fuel.

Key Benefits

 

Fixed monthly payments

Leasing offers fixed cost motoring, which benefits cash flow and offers peace of mind for individuals and businesses.

Minimal capital expenditure

With low monthly rentals and low initial outlay leasing offers minimal capital expenditure.

No depreciation risk

There is none. Most cars lose between 40%-50% of their value during the first four years, however, by leasing all the risk falls on the vehicle funder.

Just hand back the keys

Avoid all the hassle with owning the car, paying the various costs, and having to sell the car, and having to finance a new one. Simply hand us the keys and upgrade to a new one.

Upgrade to a new car

Drive a new car 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 price include?

The price covers all the vehicle needs over the life of the lease that includes the vehicle, road tax, comprehensive insurance, tyre change every 40.000 km, service costs, other repair costs, wheel alignment, MOT, courtesy vehicle in case of unavailability due to breakage or total loss, 24/7 customer service.

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 3-9 monthly rental fees, depending on the vehicle price category, not inclusive of VAT value is required upon the car order confirmation as a minimum guarantee of good compliance with the terms of the contract and is refunded at the end of the lease term.

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.

When is the replacement vehicle offered?

In the event the Vehicle is immobilized by reason of an accident or fault, we undertake to provide you with a replacement vehicle but not necessarily of the same characteristics within 72 hours from reporting the immobilization. The replacement vehicle shall be offered until the Vehicle is fixed or until the expiry date of this agreement, whichever occurs first.

Is there a replacement vehicle for service?

We do not undertake to have a replacement vehicle during service.

Can I drive my vehicle within the Turkish occupied territory of Cyprus?

This rental 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.

What happens when my lease expires?

Simply hand us the keys, and upgrade to a new one with no hassle and no stress.