Car Leasing Special Offers

Car leasing, also known as Personal Contract Hire or Business Contract Hire, is a way to fund a brand-new car or van, in which you pay an initial rental followed by an agreed number of monthly rentals for a set time. At the end of your contract, you will return your vehicle to the lease company – you never own it. Car leasing is like a mobile phone contract, however, unlike a mobile phone, you do not own the handset (or in the case, the vehicle) at the end of the agreement.

Once you have found your perfect car or van, you will need to confirm the following features of your contract, which will determine how much your lease will cost.

• Mileage - How many miles are you likely to travel over the course of the contract?
• Contract length - How long would you like to drive the car or van for? Typically, contracts are between 24-60 months.
• Initial rental - This is usually a multiple of the monthly rental shown. The most common options available are to pay 3, 6 or 9 times the monthly rental upfront. This is part of the total cost of the agreement. It is not a deposit and will not be returned to you at the end of your agreement. The more you pay for the initial rental, the lower the monthly rentals will be.

Lead times vary from 1 week to 20 weeks. Factory orders generally take between 8 weeks and 20 weeks to be delivered to you. In stock orders can usually be delivered between 7 and 14 days because the vehicle is already physically built. These lead times can vary between personal and business leasing and if there are any mandatory cooling off periods relating to the finance contract.

With fixed monthly payments, many people find leasing easier because it makes budgeting simple. Lease deals allow you to drive a vehicle that you could not afford to buy outright. Leasing also means you will always be driving a brand-new vehicle, enjoying the latest technology and safety features. Finally, you can change your car frequently, so you could be driving a brand-new different car every two years!

If you like driving a brand-new car or van every few years, want access to the latest technology and safety features, plus don’t want to worry about the hassle of depreciation, choose leasing. However, if you want to own the vehicle, leasing is not for you because you will not own it. If you are worried about damaging the vehicle, buying might be better for you, as you will need to return a lease vehicle in good condition. Maintenance is your responsibility for both buying and leasing, but you can include the cost in your lease deal.

Personal and business leases are similar in that both allow you to access a brand-new car or van (or fleet for a business) without the responsibilities of ownership. You will pay fixed monthly rentals for a fixed time. At the end of the contract, you return the vehicle back to the leasing company. However, business leasing is different because you can claim back the VAT if you are eligible.