EQ Finance Options.

EQ Finance Options

Hedin Automotive London Ltd offers a range of smart finance and leasing options, including Personal Contract Plan (PCP) to Business Contract Hire.

Our range of New and quality Approved Used smart cars come with competitive finance options for you to choose from.

With our selection of smart leasing and hiring options, it has never been simpler to become a smart driver. Whether you are looking for business or personal financing options all the information you need is here.

Agility (Personal Contact Plan)

A flexible method of financing a vehicle over a fixed term. At the end of the agreement, you have the choice to:

- Select another smart car for purchase.

- Acquire your vehicle by settling the Optional Purchase payment (balloon) along with the Option to Purchase Fee of £10.

- Return your vehicle to us.
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Hire Purchase


A straightforward route to ownership, this product allows you to spread the overall ownership cost of your smart car over a fixed term.
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Personal Operating Lease


A solution for those seeking to drive one of our vehicles over a fixed term, with consistent monthly payments and without the obligation of ownership. With this option, you lease your vehicle for a predetermined period and a fixed monthly rental (subject to any changes in VAT rate).
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Contract Hire for business

A Business Contract Hire (BCH) agreement is a type of hire agreement under which you will make monthly payments during the term of the agreement and will return the vehicle at the end of the agreement. You will not own the vehicle.

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Hire Purchase for business


A straightforward route to ownership, this choice allows you to spread the total cost of your smart car over a set period. Your vehicle is recognized as an asset on your balance sheet for the duration of the term, providing clarity and transparency in your financial records.
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Agility (PCP) Frequently Asked Questions

How does Agility work?

 

At the start of an Agility PCP agreement, you decide an amount you would like to put down as a deposit and decide the term of your agreement as well as your annual mileage. Your Finance Specialist at your local retail site will advise you of the Optional Purchase Payment of your chosen smart, which offers you the reassurance of knowing exactly what you will need to pay to own the vehicle outright in the future (this is known as the Optional Purchase Payment).


The Optional Purchase Payment helps you guard against the risk of unplanned depreciation and enables you to benefit from lower monthly payments as you are only financing a proportion of the vehicles value.

Throughout your agreement you simply pay your agreed monthly payments.

What does Agility include?


• Fixed regular payments mean you can easily budget.
• Payments are based only on a proportion of the vehicle’s value, keeping your monthly payments lower.
• Our Optional Purchase Payment avoids the risk of unplanned depreciation of your vehicle.
• You defer your ownership decision until the end of the agreement.

What happens at the end of the agreement?

 

Purchase your vehicle

Purchase your smart car by paying the Optional Purchase Payment and Purchase Activation Fee of £10. This will complete the purchase of your smart car, leaving you free to simply enjoy your vehicle.

Hand back your vehicle

If you decide to return your vehicle to us, it must be in line with our Vehicle Return Standards, as vehicle condition, excess mileage and other charges may be payable.

Part-Exchange for a new vehicle

Pay the Optional Purchase Payment and Purchase Activation Fee of £10. This will complete the purchase of your vehicle, allowing you to part-exchange for a new smart car.

 

What important information do I need to know?

 

• The vehicles value at the end of the agreement may be less than the Optional Purchase Payment, you can exercise your right to return the vehicle.
• Ownership of vehicle will not pass until all payment have been made including the Purchase Activation Fee.
• If you do not maintain payments in line with the finance agreement you are at risk of repossession.
• If you opt to return the vehicle at the end of the contract or through Voluntarily Termination the agreement of Vehicle Return Standards will still apply.
• The full term mileage will be agreed at the start of the agreement, should you elect to return the vehicle and have exceeded the agreed mileage a pence per mile charge will apply.
• You are required to have comprehensive insurance for the full term of the agreement.
• You are not permitted to sublet the vehicle during the term of the contract
• Administration charges may be applicable due to late repayments or altering of payment dates.
• Full details will be provided prior to committing to the agreement in the Pre-Contract Consumer Credit Information.

Hire Purchase (HP) Frequently Asked Questions

How does Hire Purchase work?

 

You choose how much you'd like to put down as a deposit and how long you want your agreement to last. The Finance Specialist at your local Showroom will then work out your monthly payments. At the end of the agreement, providing you’ve made all the payments, you'll own the vehicle.

What does Hire Purchase include?

• A flexible, personalised deposit and repayment term means you can tailor the financial agreement to suit you.
• Fixed regular payments means you can easily budget.
• Monthly payments are not based on annual mileage.
• Full vehicle ownership at the end of the agreement.

What happens at the end of the agreement?

 

This finance method ensures that once your final monthly payment is made, as well as the Option to Purchase Fee of £10, you will own the vehicle fully.

 

What important information do I need to know?

 

• Ownership of vehicle will not pass until all payment have been made including the Purchase Activation Fee.
• If you do not maintain payments in line with the finance agreement you are at risk of repossession.
• You are required to have comprehensive insurance for the full term of the agreement.
• You are not permitted to sublet the vehicle during the term of the contract
• Administration charges may be applicable due to late repayments or altering of payment dates.
• Full details will be provided prior to committing to the agreement in the Pre-Contract Consumer Credit Information.

Personal Operating Lease Frequently Asked Questions

What is a Personal Operating Lease?

A Personal Operating Lease, also known as a personal contract hire (PCH), is a long-term rental agreement for individuals. With this lease, you pay fixed monthly rentals for the use of a vehicle for a set period without owning it. At the end of the agreement, you simply return the vehicle.

What does the monthly rental include?

The monthly rental typically covers the cost of the vehicle's depreciation during the lease term, plus any additional services you've opted for such as maintenance and road fund license. However, it's essential to review the specific terms of your agreement as they may vary.

Are there mileage restrictions on Personal Operating Leases?

Yes, Personal Operating Leases usually come with mileage restrictions. Exceeding the agreed-upon mileage limit may incur additional charges at the end of the lease term. It's crucial to estimate your annual mileage accurately to avoid unexpected costs.

Can I modify the leased vehicle during the contract?

Generally, you cannot modify the vehicle during the lease term without prior approval from the leasing company. Any modifications made without permission could result in penalties or additional charges at the end of the lease. Always consult with the leasing provider if you're considering any alterations to the vehicle.

Contract Hire for business Frequently Asked Questions

What is Business Contract Hire?

Business Contract Hire is a popular financing option for businesses that allows them to lease smart vehicles for a fixed period at a fixed monthly rental cost. Unlike ownership, the business does not take ownership of the vehicle, but rather pays for its use during the lease term. At the end of the agreement, the vehicle is returned, subject to mileage and condition terms.

What are the key advantages of Business Contract Hire for businesses?

Business Contract Hire offers several benefits for businesses, including predictable monthly payments, minimal initial outlay, and the ability to budget effectively without the financial commitment of ownership. Additionally, businesses can potentially benefit from VAT reclamation on the monthly rentals if the vehicle is used solely for business purposes.

Are there mileage restrictions with Business Contract Hire?

Yes, Business Contract Hire agreements typically come with mileage restrictions. Exceeding the agreed-upon mileage limit may incur excess mileage charges at the end of the lease term. It's essential for businesses to estimate their annual mileage accurately to avoid unexpected costs and penalties.

Can additional services be included in a Business Contract Hire agreement?

Yes, businesses can often opt to include additional services such as maintenance, servicing, and breakdown cover in their Business Contract Hire agreement for added convenience and peace of mind. These services can be bundled into the fixed monthly rental cost, providing businesses with a comprehensive vehicle management solution.

Hire Purchase for business Frequently Asked Questions

What is Business Hire Purchase?

Business Hire Purchase is a financing option that allows businesses to acquire a smart vehicle while spreading the cost over a fixed period. With this option, the business hires the vehicle with an agreed-upon deposit and then pays fixed monthly installments. Once all payments, including any interest, are made, ownership of the vehicle transfers to the business.

What are the benefits of Business Hire Purchase for businesses?

Business Hire Purchase offers several benefits for businesses, including predictable monthly payments, the ability to budget effectively, and the opportunity to own the vehicle outright at the end of the agreement. Additionally, the interest rates are typically fixed, providing stability and peace of mind throughout the term.

Is a deposit required for Business Hire Purchase?

Yes, typically a deposit is required for Business Hire Purchase agreements. The amount of the deposit may vary depending on factors such as the value of the vehicle and the specific terms of the agreement. It's advisable to discuss deposit options with the finance provider to find a solution that aligns with your business's financial situation.

Can VAT be reclaimed on Business Hire Purchase agreements?

Yes, in most cases, businesses can reclaim the VAT on the purchase price of the vehicle if it's solely used for business purposes. However, it's essential to consult with your tax advisor or accountant to ensure compliance with VAT regulations and to understand any specific conditions that may apply.

Found a finance path to suit your needs? View our range of New smart cars or selected Approved Used smart Cars available to order today with your preferred finance option.

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