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Q: Do you write to tell me
when my agreement has finished?
A: If your agreement is a lease, you will receive a letter 3 months before
your secondary rental is going to fall due. A questionnaire will also be
sent to you 6 weeks before we take the payment. If it is a loan agreement
you will receive a letter informing you it is fully paid.
Q: What is a secondary rental? I thought I owned this equipment once the
original period of the agreement had finished and when all rentals had
A: This is a lease agreement and therefore ownership cannot pass to you.
If you wish to continue to use the equipment you must pay the secondary
rental. However, if you no longer require the asset(s), you may sell it to
a third party. Please contact us directly for more details on finalising
Q: What is the extra amount that has been added to my final payment, and
referred to as an 'option fee'?
A: This is a purchase agreement that has now run to the end of the hire
term. In order for you to gain title to the goods, there is a legal
requirement to sell it to you. There is therefore a nominal 'fee' that is
payable by way of a 'purchase' of the goods. It is optional, and you have
the right not to pay, but the goods must then be returned to the funder.
Q: How do I reclaim the VAT I have paid on my lease purchase agreement?
A: The VAT on the amount advanced can be reclaimed using the document
itself which doubles as a valid VAT invoice.
Q: What sort of assets will you finance?
A: We are able to consider a wide range of assets including vehicles,
plant & machinery and IT equipment as well as more bespoke items. The
assets must be moveable and identifiable.
Q: What is your rate?
A: There is no 'standard' rate from CEF. Every deal is
tailored to your individual needs and priced accordingly depending upon
various factors such as the term of finance, the asset financed, the