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What is leasing?
Leasing comes in many forms but the most popular is Contract Hire, also known as an operating lease. It is a usage product, not an ownership product and the lease simply pays for the depreciation on the vehicle plus any interest or additional maintenance. It is ideal for those who want to change their cars every few years and often allows you to take advantage of high discounts from vehicle manufacturers that may not be available in dealerships. Its benefits include fixed cost motoring and when bought in conjunction with a maintenance agreement, true peace of mind and high levels of safety.
Why lease instead of buy?
Leasing is beneficial for those who wish to have their car for a fixed term & know their costs in advance. Our products are for new vehicles only, so if you wanted a used vehicle then a purchase product may be better suited.
What are the risks of leasing?
Leasing a vehicle is not totally risk free.
Insurance is your responsibility to arrange. You are responsible for any damage that is not considered ‘Fair wear and Tear’. Most Leasing companies adhere to the British Vehicle Rental and Leasing Association (BVRLA) guidelines which can be read in advance. If you exceed your pre-agreed mileage there may be excess mileage payments. These are agreed on a pence per mile basis at the start of the contract. If you do not choose a maintenance package cost of routine servicing, tyres and repairs are your responsibility to arrange.
How long can I lease a car for?
You can tailor the duration to your individual circumstances, 12-60 months (1-5 years). Any term within this is possible.
Can I hand my car back early?
Yes it is always possible, however this is often accompanied by an early termination charge by the funder and we can help you through this. The cost will be determined by how far along the contact you are.