Your initial rental can be as little as 1 monthly rental in advance. The higher the initial rental amount, the lower the cost of each of the subsequent monthly rentals. Most customers pay an equivalent of 3 monthly rentals in advance, but further increasing the initial rental amount is a good way of achieving a certain monthly budget.
Your monthly rentals are determined by the vehicle type, initial rental amount, contract term and mileage allowance. Contract terms run from 24 months to 60 months. Generally the longer the contract term, the lower the monthly rentals.
At the end of the contract you have 2 options:
1. You can sell the vehicle and retain 98% of the sales proceeds after you have settled the final rental (if applicable).
2. You can pay the final rental (if applicable) and pay 3% of the original invoice price per annum on a ‘peppercorn rental’ agreement. This allows you to continue to run the vehicle through your company, rather than disposing of the vehicle.
Your Yorkshire Fleet account manager will contact you 6 months prior to the contract end date to discuss your requirements.
