Use our website or give our expert sales team a call when looking for a car. Our staff are automotive gurus and have been working in the automotive industry for years, make sure you tap into their knowledge when deciding on which car to lease.
When you have a good idea of the vehicle you want, the factory options and extras you require, the length of contract, an estimated annual mileage and whether you wish to take our maintenance offer, you will move onto the quote and application stage.
We send you a quote via email. If you are happy with the quote and you want to proceed to the next stage you just simply click ‘apply’ and complete our short application form.
Your application will be approved by our underwriting teams who will perform a standard credit check this usually takes a few hours.
Once your credit check has been approved based on your chosen vehicle we can start ordering your car. We will speak to our dealer network and confirm an estimated delivery date for your vehicle and the specification you have ordered.
We will generate an order form for you to review online. Once you are happy with the order and estimated delivery date, sign and submit this back to us. We then have authorisation to secure and order your vehicle.
While your vehicle is being prepared by the manufacturer, we will send you the official documents for your finance agreement. These documents will have to be signed and returned before delivery of your new vehicle can take place.
Upon delivery you will be required to sign an acceptance note and then the keys for your new vehicle will be handed over to you.
Many people feel it is important to own a car. However, I’m sure I don’t have to tell you that the value of the vehicle you own does not increase during your ownership whatsoever; it only decreases.
We often hear people say “wow that’s a cheap deal but you don’t own the carâ€. Our response is “yes you also don’t own the depreciationâ€. Depreciation is the difference between a cars value when you buy it and when you sell it, the drop in value varies by model and manufacturer.
Why is this important?
People tend to see a car as an asset when in fact buying a new car is more like a liability when depreciation is considered. For example if houses went down in value on average 30% a year would you buy or rent?
A new car loses value as soon as you drive it off the forecourt and could have lost around 40% of its value by the end of the first year.
By the end of the third year if you do around 10,000 miles a year the average car loses 60% of its value.
In other countries like America and Australia almost 30% of new car sales are funded through leases.
But what if you could drive a new car and only pay for that depreciation?
A lease is basically calculated on the difference between the initial purchase price and the residual value of the vehicle. At the end of your contract you have to give the car back and simply and get a new lease, instead of gambling on the used car market hoping that your car hasn’t depreciated massively.
Basically with personal contract hire you don’t have to worry about depreciating value, warranty expiry or selling the car on.
Car leasing is effectively a long term rental. You pay a fixed monthly fee to use the car for an agreed amount of time and mileage. Our customers simply budget a monthly vehicle expense to drive a different new car every two to four years.
Why make payments on buying a standard specification car when you could lease a high spec car for less? Typically purchasing a vehicle through alternative financing schemes is more expensive than leasing a car.
Why not lease a higher specification car, pocket the savings that you have made through not buying the car and use it for your next initial payment in 2- 4 years’ time.
Yes, you could eventually own the lower spec car but what would you prefer:
Generally, when you lease you make a lower initial payment and a lower monthly payment so there are cash flow savings compared to purchasing a vehicle for cash or financing it using other methods.
You can use this money to save, pay down other things for example over paying your mortgage, make investments or put it toward, your next initial payment.
e.g
There is nothing better than driving a new car, it is more than just transport. Your car says a lot about you and can make you feel great. We all know the feeling that driving a new car gives but here are some quantifiable benefits.
We lease from 2 to 4 years, with three years being the most popular duration chosen.
Whether you lease or buy unless in stock most vehicles are factory ordered which means that lead times vary, depending on the manufacturer.
However our relationships and buying power allow us to get great lead times for our customers.
When you talk with our account managers they can discuss with your manufacturer specific lead times.
Lots of people think that leasing is something which is only available to business users, but leasing for personal customers has been available for a long time and is becoming more and more popular year on year in the UK.
In other countries like American and Australia almost 30% of new car sales are funder though leases.
Many people wonder if you don’t own the car and hold the v5 how you tax the car?
When you lease a car most funding companies will tax the vehicle for you including the cost of the vehicle excise duty (formally known as Road tax) in your monthly rental.
Just like buying a new car you can pick and choose whichever options you would like. Speak to our specialists who will help customise your vehicle and give you a quote for any factory options you desire.
Maintenance generally covers you for your annual car service and wear and tear, including items that need replacing.
Vehicle Maintenance Plan Includes:
Free Service Booking and Management Service Available:
Valuable Benefits for you include:
And if Chosen:
Exclusions
We like to call it worry free motoring and it keeps you on the road all year round.
We are surprised by the number of people that think if you return the car with slight dents and scratches you will be charged. This simply isn’t possible unless you stick your car in the garage with a cover over it for your lease term.
All of our leases are covered by the BVRLA’s fair wear and tear policy.
Just like owning a car your insurance generally covers you for damage arising from accidents etc.
For more information please read the BVRLA’s fair wear and tear guide on our website, which explains precisely what is and what is not acceptable on a car being returned to a car leasing company.
Contact your funder to discuss the charges in the first instance.
When you lease a car from us you will have access to the BVRLA’s wear and tear guide. This is the industry standard and will guide you through fair wear and tear, what to expect. The BVRLA will and also act as an intermediary to resolve a dispute in the unlikely event that one occurs.
Things not covered under fair wear and tear are things like damage caused by an event or impact, neglect, unrepaired mechanical faults, large dents, broken windows, cracked headlights, heavily stained upholstery etc.
Basically use your common sense, the finance company will be selling your car on the used car market when you hand it back, is there anything you need to repair before handing it back to them.
This often scares people into not considering leasing but it really shouldn’t. The simple answer is that each of our lease contracts comes with an excess mileage price. If you ever exceed your total mileage allowance you will be charged at the rate provided.
Charges vary but can range anywhere between 2p- 30p per mile over the course of your contract.
e.g. if your excess mileage rate is 5 pence per mile and you go over your agreed mileage at the end of the lease by 1000 miles you could be charged £50 + vat.
It is much better to tailor your lease to the average amount of yearly mileage you typically drive. On the other hand we understand that circumstances change and customers do sometimes go over mileage. You will be given the excess mileage price up front so that you are in full control.
Your mileage cannot be changed in the first 12 months or the last 6 months of your lease.
Contract hire agreements are not built to be ended early. It is similar to a mobile phone contract.
If you want to upgrade or terminate early there will be a termination charge depending on the model of the vehicle and time left on the contract etc.
One of the major benefits to leasing is you take the contract over a short period of time, generally 2-4 years, so you know exactly the amount of time you will be in the car and the car will always be a relatively up-to-date model, so it caters for drivers who like to drive new cars.
If you do want to change your car multiple times a year, leasing probably isn’t for you.
When talking about leases people often band around confusing numbers such as 6+23 which is your ‘payment profile’. For example 6+23 means 6x your monthly rental as an initial payment followed by 23 monthly payments.
The easiest way to understand payment profiles is to think of it as a large cake or pizza. The finance company calculate the total payable figure for the lease, and term you have selected as the whole cake and then split it into manageable payments.
To make it easier we tend to calculate the initial rental as a multiplier of your monthly payments. e.g if your monthly payment is £100 and your initial payment is 6 monthly payments your initial payment is £600, followed by a monthly payments on £100 for the term of your contract.
Most people don’t realise that no matter what the initial rental the total amount payable stays the same size.
The more you pay in your initial rental the smaller the monthly payments become and vice versa.
The beauty of leasing with us is you don’t have to work this out, when you speak to us we find the best deal within the budget you have and do the sums for you.
We source our cars through the manufacturers’ UK dealer network, which means you will be receiving a brand new UK car directly from your chosen manufacturer’s main dealerships, ensuring trust and reliability.
Our relationships and buying power ensure you get the best prices on new manufacturers UK main dealer cars.
All of our cars are brand new UK cars purchased directly from the Manufactures Main Dealer network. You will be the first named driver on the vehicle.
As standard you are responsible for insuring your vehicle as if you were buying or financing a vehicle using another method.
The insurance must be fully comprehensive and the hirer must be the main policy holder or a named driver on the insurance certificate.
It’s pretty straight forward and insurance prices shouldn’t be any different than if you owned the car.
Most of our customers go on to lease a new second car are rare occasions where a customer loves their car so much that they want to extend the lease.
If you would like to extend your lease our renewals team will contact the funder on your behalf. We do suggest that you simply lease another car as it is up to the funder as to whether they will allow a lease extension or not but we can discuss all options with you at the time.
As the car is new it will come with a period of warranty cover. A car warranty is a sort of guarantee to protect your car should it get have a fault within a certain amount of time or usage.
It is also known as Mechanical Breakdown Insurance, and is essentially covering you should the car stop working through a mechanical flaw. For this reason, most lease cars will be covered under the initial warranty from a manufacturer as if you bought the car outright from them.
What's usually covered in a warranty?
This is wholly dependent on what the manufacturer or other companies agree to cover, with some covering the basics to others going the extra mile. Here's what we would suggest are the things a good warranty will cover, essentially the majority of mechanical components:
The general rule to think of here is that a warranty will cover anything that could break over the course of use that isn't your fault.
Things that usually aren't covered
Again, these are all subject to specific terms and conditions of a car makers own coverage, but to give you an idea here are some of the things that you shouldn't expect to be included as standard:
Delivery to the UK mainland is free to your door and included in all of our leases. There are exceptions for inaccessible/remote locations, if you have any concerns give us a call and we will check your location.
Yes as long as they are a named driver and fully insured they can drive the car the same as if you had purchased it.
Your initial payment is usually taken approximately 10-14 days after you have taken delivery of your vehicle. However, occasionally your initial payment could be taken prior to delivery. Your account manager will advise you which is applicable to you.
You can arrange for your vehicle insurance without the registration number, in this instance you would need to advise your insurance company of the specific make & model of the vehicle & they should be able to assist you.
You can change your address by emailing our Administration Team on [email protected] with your name, vehicle registration number and your new address. We will update your address details on our system & ask your Funder to update your details for you too.
If you have a funder maintained contract you will have to get your car serviced at one of their approved service centres. This may be your local dealership its best to give your funder a call to ensure you take your car to the right place. If your car isn’t funder maintained you will need to get it serviced at a VAT registered garage that uses manufacturer approved parts. If you have leased a Mercedes Benz you will have to get the car serviced as a Mercedes Benz garage/dealership.
In both cases ensure you get your service log stamped and ensure you keep any receipts with your service handbook.
The process is the same it doesn’t matter irrespective of who owns the vehicles. You will need to contact your insurer and get the vehicle repaired in the normal way.
If the car is written off you will need to contact your funder.
There are tax benefits to leasing a car through a business rather than personally. What those benefits are and whether its right for you is a different question. There are multiple routes you can go down, depending on your situation and whether you use the car for personal use as well as business use.
Benefits of business contract hire
One we have all your paper work in place and your vehicle is in stock, we will contact you to arrange the earliest delivery date.
Once you have taken delivery of the vehicle and your initial rental has been taken, you can contact your funder to arrange this. Costs may apply.
Your funder will contact you regarding this. There may be an administration charge raised by your funder.
VAT Reg No. 715 25 1558 Company Reg. No. 3635778
Financial Services Register No. 677877 ICO Registration No. Z7112215
LeaseCar UK is a trading style of Central Contracts (S.O.T.) Limited
Central Contracts (S.O.T.) Limited is a credit broker not a lender
Central Contracts (S.O.T.) Limited is authorised and regulated by the Financial Conduct Authority
We are acting as a credit broker for the purposes of arranging your selected finance contract.
We have a commercial relationship with a carefully selected panel of lenders and we may receive a commission from the selected lender.
We do not charge you a fee for our credit broking services.
All primary prices shown on this page ex VAT at the prevailing rate unless otherwise stated.
An excess mileage charge may be applied if the contracted mileage is exceeded. Full details will be provided within the written quotation.
You will not own the vehicle and it should be returned clean in a condition that is commensurate with its age and mileage, otherwise charges may apply.
From April 2020 WLTP will replace the current NEDC test procedure for establishing the official Fuel Consumption and CO2 emissions of new cars.
Please be aware of the following:
For vehicles registered on or after 1st April 2020 vehicle road tax costs will be based on the WLTP CO2 values and may change the monthly rental cost.
Vehicles registered on or after 6 April 2020 Please be aware the addition of certain factory fitted options may impact the vehicles co2 emissions and affect your monthly rental.
The Financial Ombudsman (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk.
