What is RENT-2-BUY?
- Become an Van Owner
Forget leasing or renting, with Otto Van's Rent 2 Buy scheme you can become a proud van owner! Following the success of Otto Car's Rent 2 Buy scheme, we decided to help van owners.
There's no upfront VAT charges at the beginning or balloon payment to make at the end.
- Will I own the van at the end of the payment plan?
YES, all the log-book details and information will be transferred into your name. Simple.
What are the PAYMENTS required?
- Down Payment
- All of our standard vans require just a simple £500 Down Payment.
Am I ELIGIBILE?
- What If I have poor history?
- Not a problem, the great thing about our Rent 2 Buy scheme is that we care about your present and not your past. We approve the vast majority of applicants.
- What's the minimum age?
- You must be 25 or over to be eligible for our Rent 2 Buy scheme
Contract for Rent-2-Buy
- Who is my contract with?
Your Rent-2-Buy contract is with Otto Van Limited
- Can I cancel my Rent-2-Buy contract?
Yes you can. After 3 months you can cancel with 4 weeks notice, but you do lose all your rental payments up to that point as long as your mileage doesn’t exceed 500 miles per week up to the date of cancellation. If it does exceed 500 miles you may be liable for any excessive mileage charges.
There is also a £200 cancellation fee to be paid.
- What happens if I wish to cancel the Rent-2-Buy Contract and had a fault accident?
- If you had a fault accident whilst on the Rent-2-Buy Contract then you will still be liable for the insurance premium.
- Are there any additional payments to make at the end of the contract?
The great thing about our Rent 2 Buy scheme is that there is no big balloon payment to pay at the end. There is however, a small £200 administration fee to change the log book into your name.
- Is there a mileage restriction?
Yes, there is a fair usage policy of 500 miles per week. If you exceed this, you will be charged on a monthly basis but should you complete your 208 weeks contract in full, you'll be refunded any excess mileage charges at the end.
- What are the excess mileage charges?
Should you go over your weekly mileage cap of 500 (25,000/year) we can charge 20p per mile after that.
- How does insurance work?
- You'll need to provide your own fully comp insurance cover prior to receiving your new van