The value of the vehicle less any outstanding finance

GAP or Guaranteed Asset Protection is insurance protecting the borrower in the event a vehicle be written off or stolen. The payment tops up whatever is paid by the Car Insurance Company sufficently to pay off all outstanding finance

Guaranteed Minimum Future Value of a vehicle

HPI refers to checks carried out to ensure that a vehicle has no outstanding finance prior to sale or transfer. Also reveals if the vehicle has been imported or may have been written off in an accident

Insurance often refered to as (ASU) Accident, Sickness, Unemployment. Also refered to as (PPI) Payment Protection Insurance. This type of cover is designed maintain vehicle payments in the event of an accident, sickness or unemployment

Insurance Premium Tax payable on all Insurance premiums

The person who has leased the vehicle

The lessor is the company leasing you the vehicle

Manufacturers Recommended Price

Pence per Mile

Road Fund Licence

Service Maintenance & Repair

Status, is associated with standard contract-hire terms, non-status applies to new start companies, adverse credit and/or limited accounting information

The part of a vehicle finance agreement which covers servicing, repairs and tyre replacement

The Whole Life Cost, costs including depreciation, servicing, fuel etc for running a vehicle for a defined period of time