Car Leasing

Car leasing FAQs

• How can I get out of a car leasing agreement?  
  You can terminate a car leasing agreement at any time, but depending on how much has been repaid, and how your payments are structured, the financial penalties could be severe. Read more here.
• What's the best type of personal car lease for me?  
  Leasing is becoming an increasingly popular method of running a car, but there are a wide range of ways to do it, all with their own pros and cons. Find out all about them here.
• Should I lease or buy a new vehicle?  
  Leasing a car can often bring lower monthly payments, while if you buy you won’t have to worry about mileage restrictions or bills for excessive wear and tear. Which option is better depends on your personal circumstances and preferences. Read about more of the pros and cons of each here.
• Should I consider a 12-month car lease?  
  The fee that you pay at the start of a lease deal is larger than the subsequent monthly ones, so while some dealers offer 12-month lease deals, they’re an expensive option. Read more about them here.
• What are the pitfalls of car leasing?  
  The biggest worry with car leasing is that you may suddenly find that you can no longer meet the repayments. However, mileage limits and wear and tear bills can also cause problems, while taking out GAP or PPI insurance can mitigate concerns. Read more here.
• What is the best car leasing for my business?  
  Choosing the right way to finance your business vehicles will depend on your individual company's tax position, cash flow and other borrowings. Read all about the various options here.
• What is contract hire?  
  Contract Hire (most commonly known as leasing) is a form of finance and therefore you will be asked to complete a credit application form. It funds the use of a vehicle, but you are not buying that vehicle. Find out more here.
• What is personal contract hire (PCH)?  
  Personal contract hire is a long-term rental agreement that may suit you if you do not wish to purchase a vehicle outright. You make fixed monthly payments for an agreed period, and when the contract ends you return the vehicle. Find out more here.
• What are yearly mileages and excess mileage charges?  
  When you take out a leasing contract it is based on a fixed mileage limit, and you will be charged a penalty if you exceed that limit. Read more here.
• Does a car leasing agreement include maintenance?  
  While most car leasing agreements don’t cover maintenance as standard, many let you add an optional maintenance package for peace of mind and ease of budgeting. Find out more about these here.