Personal car leasing refers to a car finance agreement which is for your own personal private use. This can include social, domestic, pleasure and commuting. There are two main forms of personal lease which are Personal Contract Hire (PCH) and less common these days Personal Contract Purchase (PCP).
A personal lease will be paid by you from your private bank account for the duration of your contract, whereas a company lease which is paid by the business owner and is exempt from VAT.
Your lease contract will consist of an initial payment, followed by subsequent monthly payments over the agreed term of your lease.
If leasing a brand new car it will be delivered to you free of charge and will more than likely have the most recent number plate. If this isn’t the case and your car is pre-registered, you will be notified prior to making any formal agreements.
You won’t have to worry about taxing your vehicle either as road tax is included for the full lease period on contract hire leasing. As an MOT is not needed until a vehicle is 3 years old, you will probably not need to worry about this unless leasing over a longer period such as 48-60 months.
When you reach the end of your lease, you arrange the collection of your car and we will arrange the delivery of your new one.
Is personal lease more expensive?
Not normally, the only difference between a business and personal lease is usually just the VAT. Whether a business leases a car or you take out a private lease the VAT still has to be paid. The benefit to a business if it is vat registered is that some of the vat payable can be offset against quarterly vat returns.
Whilst the majority of personal lease are the same price as the vat inclusive business lease there are some car manufacturers that do not offer as much discount or subsidy to private motorists as they do to business users. Don’t worry we will advise you of which manufacturers to avoid.
How does personal car leasing work?
Personal car leasing is really simple:
- Browse through the deals on our website and decide on the best car for you. (don’t forget we are here to help)
- We have tried to make things easier by highlighting car leasing special offers plus offering you the facility to search our entire database.
- Give us a call on 01189 420030 or submit an online enquiry and we’ll get in touch with you asap.
- We’ll send all the lease documents to you usually by email. You will need to complete them and send them back.
- Once the documents have been signed off, you’ll go through a 14 day cooling off period which gives you the chance to cancel your order
- After this period, you’ll take delivery of your car (straightaway if it’s in stock or on the agreed date if not)
What are the benefits of personal leasing?
There are many benefits to leasing a car, here are a few of the main reasons to lease a car.
• You get to drive a brand new car that can be ordered and built to your specification.
• Road tax is included for the duration of the contract so that’s one less thing to worry about.
• Makes brand new vehicles affordable compared to a loan, hire purchase or dealer finance.
• The monthly payments are fixed payments for easy budget management.
• A full maintenance package can be included (includes tyres, servicing and breakdown)
• No hassle at the end of the lease to try and sell the car simply have it collected.
Why use Lease World?
With over 25 years in the trade we have gained many loyal customers and heaps of fantastic customer reviews. We are also very proud to have a 5 Star google rating. All of the reviews you see are true genuine customer feedback, these are from our very valued customers.
If you have seen a deal on our website that you wish to discuss, or have further questions, please do not hesitate to contact us.