Why Should I Lease?
You'll spend less money on a depreciating asset.
It's almost as simple as that. Brand new cars and vans depreciate as soon as they are driven out of the dealership - 15-35% of the vehicle's value can be lost in the first year alone. In a lease agreement, you are only paying the difference between the car's original value and the expected value at the end of your contract. Other finance types may have higher monthly payments because you are paying for the whole value of the vehicle.
The higher the expected value at the end of the agreement, the less you'll pay. This means premium cars from manufacturers like Mercedes-Benz and BMW are often attractive lease cars, because they hold their value better than some other brands do after a few years. You may be able to get a better car for your budget, compared to other finance types such as Hire Purchase.
You'll benefit from a brand new car every few years.
Paying out for MOTs, general maintenance and parts will be a thing of the past. You'll receive a manufacturers warranty (which may cover the entirety of the contract depending on manufacturer) to cover any mechanical work, although the car is less likely to go wrong in it's infancy compared to a car that is several years old.
You may be able to upgrade to the latest model regularly, too. If a manufacturer updates one of their models every 3 years, taking out a 3 year lease on said model will mean you can upgrade to the face-lifted version at the end. Upgrading regularly gives the driver the opportunity to get the latest technology and emission figures for better BiK costs.
You lease a car or van for a specified amount of time (usually 2, 3 or 4 years) and hand the vehicle back at the end of the agreement. You are then free to decide what to do next; lease a new vehicle, or find an alternative. That's it - no final lump sum to worry about, no disappointing re-sale values, and you get the option to drive away in a new car or van.
Taking out a maintenance package gives you even less to worry about. Tyres, servicing, MOTs (if applicable) and breakdown cover will all be provided by the funder. All you have to do is insure the vehicle - the rest is handled.
You will be guided through the paperwork process by our customer care team, to make the process as simple as possible. From there, updates on the vehicle's status and delivery dates will be sent to you regularly. Your dedicated customer care advisor will be with you throughout the contract term, to help with any queries or questions.