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Car Scheme Frequently Asked Questions
Ending the agreement
- My personal circumstances have changed and I no longer require a car. Can I return it?
- I am leaving the University and have handed in my resignation.
- I have been made redundant. Do I have to pay and early termination fee?
- My agreement is coming to an end and I want to know if it is possible to purchase the vehicle?
- My agreement ends next month. What happens now?
38. My personal circumstances have changed and I no longer require a car. Can I return it?
You can return a vehicle during the period of the scheme if your personal circumstances change but you will be liable to pay an early termination fee (please see Question 39).
39. I am leaving the University and have handed in my resignation.
By participating in the scheme, the employee is agreeing that the University can recover the early termination payment from their final monthly salary. Otherwise the employee will be required to pay the early termination payment in full on demand from the University. The early termination payment will be made from net pay and will be calculated on the following:
| Length of Lease | Termination | Charge (proportion of rental) |
|---|---|---|
| 2 years | Before the end of year 1 | The difference between the outstanding amount still owed by the Customer on the Schedule and the Stand in Value of the vehicle. |
| 2 years | Before the end of year 2 | 5 month |
| 3 years | Before the end of year 1 | The difference between the outstanding amount still owed by the Customer on the Schedule and the Stand In Value of the vehicle. |
| 3 years | Before the end of year 2 | 6 months |
| 3 years | Before the end of year 3 | 4 month |
You will also incur charges if you have exceeded your mileage allowance or if the vehicle is returned with more than fair wear and tear damage. Again, these charges will be taken from your net pay.
40. I have been made redundant. Do I have to pay an early termination fee?
On returning the vehicle, the early termination payment will not be charged where the principal reason for the employment ending is redundancy.
41. My agreement is coming to an end and I want to know if it is possible to purchase the vehicle?
There is an option to purchase. You will need to contact ALD Automotive prior to the end of your agreement and they will inform you of the price of the vehicle. If you decide to purchase the car, the purchase will be directly from ALD Automotive and the payment can not be made via payroll, or through the salary exchange scheme.
42. My agreement ends next month. What happens now?
ALD Automotive will contact you direct before the end of your contract to discuss your options. If you decide to return the vehicle then it must be in good condition relative to its age and mileage. ALD Automotive will assess the car in line with independent guidelines set out by the British Vehicle Leasing and Rental Association (BVRLA). When you return the car you should ensure that: personalised number plates are removed from the vehicle in good time and placed on a retention certificate at your cost (this can take up to 6 weeks); any damage to the vehicle is repaired in accordance with manufacturer guidelines making an insurance claim in good time as required; your car is cleaned both inside and out ready for inspection and resale; the Service Handbook is to be returned with the car – stamped where servicing was required, or proof of service from an authorised dealer if stamp is not present; and all spare keys and remote opening devices are returned otherwise a charge will apply.
