At OSV, we value transparency and honesty when it comes to our customers. We don’t like to leave you in the dark, and we want you to know everything there is to know about vehicle leasing so you don’t end up with a vehicle that is not right for you. Which is why we’ve written all these articles, to educate you and to help you make the right decision.
However, one thing we don’t really talk about much, is OSV. Very rarely do we discuss what we do, and what part we play in your buying journey should you choose to get your vehicle through us.
So in this article, we are going to look at the problems OSV solve and discuss the process you would go through should you choose to get your vehicle through OSV.
1. Finding the right vehicle for you
OSV take a consultative approach when it comes to getting a vehicle for you. This is different from a majority of vehicle brokers and dealerships out there.
We’re not about the ‘what’s the monthly rental?’, not at first anyway, we’re more about finding the best vehicle for you. So the first problem we solve when you contact OSV is finding out which vehicle would be best for you.
We do this by spending between 15 and 20 minutes talking to you about your current car. We will discuss what you use it for, what you like and dislike about it, and what you are looking for in your next vehicle. You might be looking to expand your family, so will need something slightly bigger, or you need a company car but want to keep company car tax low so you want a vehicle that has low emissions. Or, you could be looking for a car that does 0-60 in 4 seconds and want to have a bit of fun with it. Regardless of what you want in your car, we will endeavour to find the best vehicle for you.
Once we find out what you are looking for, we will do some research. We will then send you some reviews for you to look through or to watch, give you our honest opinion, and help you decide which vehicle you want to be driving for the next few years.
Sometimes people ring us with a very fixed idea of what vehicle they want, but we still encourage those people to talk their requirements through with us. We’ve been trading since 1997, and in all those years of experience, there’s a chance we could find an even better vehicle that fits your requirements.
Why do we do this? As we said, we’ve been going since 1997 so we understand the repercussions of not finding someone the right vehicle. This is a vehicle that you are going to be driving every day for the next three years or so. If it isn’t right for you, it’s going to be a long three years. Not only that, but it gives you a bad impression of OSV and the automotive industry in general. Of course, we don’t want that. Which is why we strive to find you the perfect vehicle for your requirements before we do anything else.
So that’s the first problem we solve, and it’s only after we’ve solved that problem that we will solve problem 2.
2. Finding the best price for you
It is only after we have found your perfect vehicle that we will start discussing price.
We will talk about your options and how you might go about getting your new vehicle.
One of the options you can look at is leasing. Leasing is where you have a car for a few years, while paying a fixed monthly fee. You have a pre-agreed mileage and are contractually obliged to keep the vehicle in a good condition. Once that time is up, you hand the car back and get a new one.
Another option is buying it outright for cash, or by getting a bank loan. There are two types of loan that you can get, a secured loan and an unsecured loan. A secured loan is where you put down collateral, such as your house or your car, and if you fail to make the payments the collateral is taken by the bank. An unsecured loan is where the bank trusts you enough to simply make the repayments without putting any collateral down.
Read more about loans here.
Another option is a purchase agreement. This is where you pay a monthly fee and at the end of the contract you own the vehicle.
We discuss all these options with you and work out which one would suit you best both financially and in regards to what you want out of your vehicle. For example, whether you want to own the vehicle or hand it back at the end of the contract. Once we have looked at that and decided which option is best for you, we can look at prices and look at financing your vehicle.
3. Finding the best funder for you
Once we have decided what financing option you are going through, it’s time to start looking at funders.
We will have to find a bank to fund your contract, and one that provides you with the best price and deal for your situation. While getting a vehicle on a lease or a finance agreement isn’t like your average loan, they will still purchase the car and then lend it to you. So we will have to find a lender that will give you the best value.
At OSV, we have access to over 20 different banks, so we have a very high chance of getting you the best deal out there.
However, it is at this point that we will discuss your credit score and credit history. When you get a car on finance or a lease, you will have to go through a credit check. This is necessary because the funder needs to know that you are going to be able to make the monthly payments. To do this they will look at your credit score.
Once we have discussed your credit history we will start looking at funders that are going to get the best deal for you and the best value agreement. We will find the appropriate funder for you and your personal or business situation. After we have found the right funder that will offer you the best deal, we can order the vehicle.
4. Keeping you up to date
It is at this point that some companies will leave you until your vehicle arrives. However, that’s not the case at OSV. At OSV we like to keep you in the loop throughout the whole process, which is why we’ve developed something called the Portal.
The OSV Portal is online, and keeps you updated with the status of your vehicle. Once your order form has been sent off and your vehicle has been ordered, you will be sent a link to access the Portal. You will then be able to check the status of your order. These updates will include when it has been allocated a build week, when it is being built and when it’s arriving in the UK.
Our finance team update the Portal every week but you will be notified via email if there has been an update on the status of your order.
5. We make the paperwork process as smooth as possible
When your vehicle is in the UK it will go through various checks to ensure that it is ready to be delivered. Prior to delivery though, if you have opted for a finance or lease agreement, there will be finance documents for you to sign.
Again, some companies will leave this up to you and will not explain the process or what you have to do. However, this is not the case at OSV. We have a dedicated finance team who will talk you through the documents process. They will check the documents thoroughly before they are sent out to you to make sure everything is correct. Our team are always on hand should you have any questions regarding the signing of your documents.
This saves time and ensures no mistakes which, in turn, will avoid delays when it comes to the delivery of your vehicle.
You can read more about the documents process here.
6. Making sure your vehicle is delivered to your door, free of charge
Once the documents process is complete, we can arrange for your vehicle to be delivered. If you have a lease car that is due to go back, you will need to contact the relevant finance house to organise collection of the vehicle to ensure that you don’t have two cars sitting on your drive at once. If you have a vehicle to part exchange – we can also advise on the best way to sell your vehicle on if you haven’t already.
When you are ready for your vehicle, we will organise delivery. This can be either in the morning or the afternoon and can be at your house or your workplace. It can’t be somewhere such as a petrol station or a car park, however.
The main thing is you do not have to travel to pick your vehicle up, it is delivered straight to your door, free of charge.
In conclusion, OSV help you find the best vehicle for you and the best deal for your situation, whether it be personal or business situation. Hopefully this has given you some idea of what OSV do, what is important to us, and an idea of the OSV process as well. If you have any questions or are ready to start your vehicle journey with us, then please don’t hesitate to contact us.