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When you have chosen your vehicle, you will then agree your annual mileage and decide on the agreement term with one of our Business Managers.
We will then determine the Guaranteed Minimum Future Value (GMFV) of the vehicle at the end of the agreement and work out a deposit and monthly amount that works for you.
At the end of your agreement you will then have three options:
Return – Simply return the car the back to us
Retain – Keep the car by paying the optional final payment
Renew – Trade it in for another car
For a quotation, help, or advice contact us and ask to speak to one of our Business Managers.
You can normally settle your agreement early by asking the finance company to provide you with a settlement figure. However, the finance company will require you to pay off the difference between what your car is worth, and what you still owe and there may be a difference which is known as negative equity. On the other hand, you may find that at the end of your term your car is worth more than the Guaranteed Future Value, which means you will have some positive equity to contribute towards your next car.
The short answer is yes, you can end your finance early. There are different provisions within each finance agreement that allows you to do just that. If you have got through two-thirds of the way through your finance agreement, the options to end the finance agreement early open up.
For a Hire Purchase agreement, there is an option of paying it off early through a settlement fee. A settlement fee covers the cost of any remaining unpaid instalments and interest payments remaining on the agreement. Once the settlement fee is paid, you take full ownership of the car early.
Under a Personal Contract Purchase agreement, you can also pay a settlement fee for bringing the agreement to an end early. After that, you can choose to hand the car back or you have a second option. Through a PCP agreement, you can take full ownership of the car by paying off the remaining Guaranteed Minimum Future Value also known as a balloon payment.
When your lease term finishes, you hand the vehicle back to the finance company. Provided the vehicle is within the agreed mileage limit and kept in good condition (fair wear and tear accepted), there are no further costs.
Yes, but it usually comes with an early termination fee. The cost will depend on how much of the agreement is left to run, so it’s best to check the terms carefully before doing so.
No. Since the vehicle does not belong to you, you cannot make permanent modifications. Any changes would need to be removed before returning the vehicle at the end of the lease.
Yes. You must take out fully comprehensive vehicle insurance for the entire lease term. The vehicle remains the property of the finance provider, so adequate insurance is essential.
Anti-Money Laundering (AML) & Counter-Terrorism Financing (CTF) Policy
Business Name: Euro Commercials
Effective Date: 22/07/2025
Review Date: Annually
1. Purpose of this Policy
This policy sets out Euro Commercials’ commitment to preventing money laundering and terrorist financing. It outlines our controls and procedures to detect, deter, and report suspicious activity in line with:
2. Scope
This policy applies to all employees, directors, contractors, and any associated parties involved in the van sales and leasing operations of Euro Commercials.
3. Responsibilities
Money Laundering Reporting Officer (MLRO)
Andrew Hole (Finance Director) has been appointed as the MLRO for Euro Commercials. They are responsible for:
All Staff
Must remain alert to risks and report any suspicious behaviour or transactions to the MLRO
4. Customer Due Diligence (CDD)
Euro Commercials is a Cash-Less Business. We do not take Cash from anyone.
However, a standard CDD must be carried out when:
We will collect and verify:
Enhanced Due Diligence (EDD)
EDD will be applied where the risk is higher (e.g. high-value transactions, foreign customers, politically exposed persons).
5. Risk Assessment
Euro Commercials will undertake a regular Business Risk Assessment considering:
6. Record Keeping
All CDD and transaction records will be securely retained for a minimum of 5 years after the relationship or transaction ends.
7. Reporting Suspicious Activity
If any staff member suspects money laundering or terrorist financing, they must:
1.Report it immediately to the MLRO
2.The MLRO will review and, if necessary, file a Suspicious Activity Report (SAR) with the NCA
Do not tip off the customer or any third party, as this is a criminal offence.
8. Training & Awareness
All staff involved in van sales, leasing, and customer onboarding will receive regular AML & CTF training, including:
9. Policy Review
This policy will be reviewed annually or in response to any major legislative or operational change.
10. Contact
Money Laundering Reporting Officer (MLRO):
Andrew Hole (Finance Director)
Whatever your question or feedback we are here to help. So please feel free to contact us
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