What is Personal Vehicle Leasing?

What is personal vehicle leasing?

Personal vehicle leasing is much the same as renting a vehicle where you agree to use the vehicle for an agreed rental and contract length for a fixed monthly fee. 

The choice of vehicle is completely down to your personal preferences in regards to the make, model and spec level. Your contract is completely tailored to fit your needs with the amount of mileage you do per year, the contract length and whether you wish to place a deposit or not. Everything is down to you, the customer, and we will always endeavour to meet your expectations. 

At the end of your agreed leasing contract, the vehicle is simply returned back to the finance company and payments will stop, allowing you to then get yourself into another brand new lease vehicle! Helping you to always be kept up to date with the latest technology and models that the industry has to offer.

Is personal vehicle leasing cost effective?

The leasing sector within the automotive industry is ever-growing and has never been so popular before! More and more people now consider leasing a vehicle as oppose to purchasing outright as leasing is a much more cost-effective way of obtaining a brand-new vehicle. 

Purchasing a brand-new vehicle outright will always incur heavy depreciation as it gets older and has been used more along with repair costs as a result of maintenance however, vehicle leasing can be seen as a much more effective way of receiving a new vehicle as you will save a lot more of your precious £’s across the course of the lease contract as oppose to purchasing out-right. 

Vehicle leasing is widely recognised as being the cheapest method to driving a fresh new vehicle as you are simply paying for the depreciation over the course of your contract, meaning that the monthly expenditure can be much lower than other finance methods.

Who can take out a personal vehicle lease contract?

Almost everyone can be applicable for a vehicle lease contract through ourselves, all that we ask is that you are able to meet the below requirements before starting with your finance application: 

•Must hold a full UK drivers license 

•Must hold a British Passport 

•Have a regular, steady & secure income 

•Must be on the electoral role at your current home address 

•Must not have been declared bankrupt in the past or have IVA’s or CJJ’s present against your name 

•Be able to provide 3 years of employment/education history 

With all of our vehicles that we have to offer, a successful credit application is needed in order to proceed with the order. This is simply in place to ensure that your credit is strong enough and taking out the vehicle lease will not pose a risk to you or the finance company. This process is very easy to under-go and a higher credit score is much more likely to be accepted.