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Visit: Lings Cars

What are the main products and services?

Ling's main product is new-car contract-hire finance. Customers see her selling cars, but really she is providing car finance. "It sounds boring" she says, "but it boils down to long-term car rental, with a mileage constraint". This means that if a customer accepts a deal, they get the use of a brand new car for the period of the agreement - three years, say. At the end of this time, they return the car. If the customer has agreed a mileage limit of 30,000 miles but has actually done 35,000 miles, they will have to pay an additional sum. This sum might be 2p per mile or similar and will be agreed with the customer at the outset of the deal.

At the end of the agreement, customers have to return the car - the details about the condition that is acceptable and what is not is clearly laid out at the start of the agreement. Source: Lings Cars.

Following typical finance acceptance, a customer pays a 3-month (lump) initial payment and then makes a monthly payment for every month they keep the car. Contracts are fixed, usually 1, 2 or 3 years.

For the customer, the service Ling provides has a number of advantages over buying from a dealer:

• Comparison of a wide range of new makes and models instead of one brand
• Low initial outlay and no borrowing/loans
• Clarity of pricing and no additional charges
• No need to travel around many dealers to haggle
• New cars are always under manufacturer's warranty
• Long-term costs can be budgeted precisely
• At the end of the contract, the finance company takes the car back
• The customers are free to either rent again or walk away
• Ease of buying all from the customer's home PC
• Full protection of the UK Distance Selling Regulations
• Free road tax for the contract and free delivery/collection

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