Car Leasing

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Vauxhall Corsa
1.4 75 Design 5Dr
36 Month £103 Exc Vat
per month
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Kia Picanto
1.0 1 - Blue Breeze
36 Month £109 Exc Vat
per month
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Vauxhall Crossland X
1.2 [83] Elite Nav 5Dr Manual
36 Month £130 Exc Vat
per month
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Vauxhall Grandland X
1.2T SE 5Dr Manual
36 Month £154 Exc Vat
per month
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Seat Arona
1.6 TDI 95 SE Tech Lux EZ
36 Month £159 Exc Vat
per month
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Nissan Qashqai
1.3 DiG-T Acenta Premium
36 Month £168 Exc Vat
per month
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Renault Kangoo Van
ML33 ZE Business Auto
36 Month £168 Exc Vat
per month
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Mercedes GLA
200 AMG Line Edition Auto
36 Month £248 Exc Vat
per month

The Car Leasing Specialists

Lease World is a friendly, family run business specialising in car and van leasing. Launched in 1994 we have supplied lease vehicles for over 25 years to thousands of satisfied customers across the UK. With a keen eye for a bargain and a no-pressure attitude we look to get our customers a great lease deal every time.

We work closely with car manufacturers, large motor groups and key finance partners. We offer some of the most competitive leasing rates in the market, ensuring our customers return time and time again. We pride ourselves on customer satisfaction and maintain an independent 5 Star rating on google from valued customer reviews.

We are here to source, finance and supply your new and used vehicle requirements.

Leasing a car

The two most popular ways of financing a car are personal contract hire (PCH) and personal contract purchase (PCP). PCH leasing allows you to drive a new car every few years, with relatively low monthly payments and no worries about the car’s resale value. PCP is similar, but gives you the option of buying the car in the future. When you lease a car there are strict rules and restrictions, so make sure you understand how it work.

 

How does car leasing work?

Leasing a car is effectively long-term hire – you pay a fixed monthly fee to use the car for an agreed time period and number of miles.

On order to lease a car you will need to pass a credit check.  Most funders use the credit data provided by Experian to assess lease applications.

As well as checking your credit score and payment history the funder will also take in to account current financial commitments, income and expenditure.

To get out of a PCH deal early you may not be able to just walk away from the agreement. There may be additional costs to pay before you can leave that you hadn’t budgeted for.  These can include excess mileage charges, outstanding finance and vehicle damage repair.

This can be a problem if you’re ending the agreement because you can no longer afford the payments.

 

How do I finance a car with personal contract hire (PCH)?

If you’re looking to hire a car long term and don’t want to buy it, the cheapest option is likely to be using PCH. Here are the details:

  • The lease agreement usually lasts 2 to 4 years although we also offer some short term lease options.
  • You will need to undergo a compulsory credit check.
  • You have to pay around three months’ lease upfront.  You can pay more and subject to status sometimes less.
  • You never own the vehicle during the agreement and have to hand it back at the end of the term.
  • Monthly payments are normally higher than for equivalent vehicles leased through PCP, but over the entire contract you’ll typically pay less on a PCH.
  • Sometimes you can get a maintenance package that covers things like annual car tax (road tax) or servicing.
  • There are a number terms and conditions, like limits to the number of miles you can do.

 

How much do I pay a month for a PCH?

PCH monthly payments are normally lower than if you had leased the car through PCP. This is because with PCP you know what the guaranteed future value will be and there is the chance of some equity plus the ability to end the lease slightly early without a penalty.

However, every deal is different.  This is our area of expertise and we will ensure you get the best deal.

PCP is similar in many ways, but lets you purchase the car at the end of the agreement.

 

Restrictions when you lease a car

As with all rental agreements, there are some restrictions you need to bear in mind:

  • You won’t be able to modify the car in any way – for example, adding a tow-bar – without permission. However, you can ask the leasing company to make modifications before you take it.
  • If you exceed the agreed mileage, you’ll have to pay a penalty for the extra miles at the end of the agreement. Typically this is 10p per extra mile and soon adds up, so make sure you estimate your mileage accurately – in 2018, the average household car did 7,600 miles per year. Understand the cost of going over the mileage. It may be cheaper to opt for a higher mileage agreement than pay penalties.  This is known as the excess mileage charge.
  • You must return the car in ‘good repair and condition’ (taking into account ‘fair wear and tear’). So if, for example, a wing mirror gets broken, you might be charged to cover the cost of putting this damage right.
  • If you plan on taking your car abroad, you might need to get written permission from the finance company each time you do so and there might also be a charge.

 

The big difference between PCP and PCH.

Four out of five people with PCP plans don’t purchase the car at the end of their contract (Source: the Finance and Leasing Association). Is it likely you’ll be one of them? If so, leasing a car through personal contract hire (PCH) might work out cheaper for you. Be careful though. If you can’t afford the PCH monthly payments and have to cancel the agreement, you may have to pay off the leasing costs in full, which would end up costing you more.

While PCP can be used as a way of leasing a car, it also gives you the opportunity to buy the car and become its legal owner at the end of the leasing contract. PCH does not, however, even with PCH the funder may sell you the vehicle at their discretion.

To do this with PCP you have to pay a ‘balloon payment’ – also known as the Guaranteed Minimum Future Value (GMFV) – at the end of the contract. This is in addition to your deposit and monthly payments, and will be a few hundred or thousand pounds.

With PCP the total amount you repay in monthly instalments is based on an estimate of how much the car will lose in value though depreciation between the start and end of the contract.  These details will be shown to you at the point of quotation.

If at the end of the contract you don’t want to buy the car, you simply hand it back. As long as the car is in good condition and hasn’t exceeded the agreed mileage, you won’t have to pay any more money.

With both PCH and PCP the lender can repossess the car without a court order. But with PCP, once you have paid at least a third of the total amount payable, they can’t repossess it without a court order.

 

Your right to cancel a PCH lease

Ending a PCH early means that you might have to pay off the lease costs in full, so think very carefully before cancelling the agreement and find out exactly what these total costs would be.  You can contact the finance company at any time during the lease for a quotation to terminate the lease.be further charges, so check your agreement.

 

 

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