At Premier Vehicle Leasing, we make the process simple and tailored to your needs. But what exactly is vehicle leasing, and how can you benefit from it? In this guide, we’ll explain everything you need to know, ensuring you're fully informed before making a decision.
What Is Vehicle Leasing?
Vehicle leasing is essentially a long-term rental. You choose a vehicle, drive it for a set period (usually between 2 to 4 years), and then return it at the end of the contract. Unlike buying a car, leasing allows you to enjoy a brand-new vehicle without the full financial commitment of ownership.
Benefits of Leasing a Vehicle with Premier Vehicle Leasing
- Free UK Mainland Delivery: No matter where you are in the Mainland UK, we'll be able to get your brand new car right to your doorstep for free!
- Drive Newer Models: Stay updated with the latest models, technology, and safety features without the hassle of reselling your car in a few years.
- No Depreciation Worries: Since you don’t own the vehicle, you don’t bear the cost of its depreciation.
- Flexible Terms: Choose from a variety of lease terms that suit your budget and driving needs.
- Manufacturers Warranty Coverage: Your new car or van will be supplied by our trusted network or franchised main dealers and will benefit from a full manufacturer warranty.
- Road Tax Included: All of our vehicles come with road tax included for the full term of your lease agreement. Just add fuel, arrange your insurance and drive away in your new car or van.
How Does Vehicle Leasing Work?
At Premier Vehicle Leasing, we pride ourselves on making the leasing process as smooth as possible. Here's a step-by-step breakdown:
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Choose Your Vehicle: Browse through our extensive range of cars, from economical city cars to luxury SUVs. Whether it’s a personal lease or business lease, we have something for everyone.
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Select Your Lease Term and Mileage: Our contracts are flexible. You choose the duration of the lease and the annual mileage limit that suits your driving habits. Popular choices are 24, 36, or 48 months, with annual mileage options ranging from 5,000 to 30,000 miles.
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Pay an Initial Rental: Also known as the deposit, this upfront payment can range from 1 to 12 months' worth of your monthly rental fee. The more you pay initially, the lower your monthly costs will be.
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Monthly Payments: You’ll make regular monthly payments for the duration of the lease.
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Return the Vehicle: At the end of your lease term, simply return the vehicle. If you've adhered to the agreed mileage and kept the car in good condition, there are no additional charges.
What Are the Different Types of Vehicle Leasing?
1. Personal Contract Hire (PCH)
PCH is one of the most popular types of leasing for individuals. You lease the vehicle for personal use, pay a fixed monthly fee, and return the car at the end of the contract.
Best for: Individuals who want to drive a new car every few years without the hassle of ownership.
2. Business Contract Hire (BCH)
If you’re a business owner, BCH offers tax advantages and helps keep your fleet up-to-date. You can lease multiple vehicles for your business, and the monthly payments may be tax-deductible.
Best for: Companies looking to maintain a modern, cost-effective fleet of vehicles.
Top Considerations Before Leasing
While leasing has many advantages, it’s important to consider a few key factors:
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Mileage Limits: Make sure you choose a mileage cap that fits your driving habits. Exceeding your mileage allowance could result in additional charges.
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Wear and Tear: Leasing companies expect reasonable wear and tear. However, excessive damage could lead to extra fees when you return the vehicle.
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Long-Term Costs: While leasing offers lower monthly payments, you don’t build equity in the vehicle. At the end of the lease, you’ll need to return the car or enter a new lease, which may require another upfront payment.
Conclusion
Leasing a vehicle can be a smart and cost-effective way to drive a new car without the long-term commitment of ownership. With Premier Vehicle Leasing, you’re in safe hands, with a range of flexible, affordable, and reliable leasing options. Explore our current deals today and find the perfect vehicle for your needs.
If you’re ready to get started or have more questions, don’t hesitate to contact us. Let us help you drive away in the car of your dreams!
Frequently Asked Questions about Vehicle Leasing
Yes, but early termination fees usually apply. Make sure to check the terms and conditions of your agreement.
You’ll be charged an excess mileage fee. This fee is outlined in your contract, and it’s a good idea to know the rate before signing.
Leasing companies typically perform a credit check. While a good credit score helps secure the best rates, some companies, including Premier Vehicle Leasing, may offer options for those with less-than-perfect credit.
No, insurance is not included in the lease agreement. You’ll need to arrange fully comprehensive car insurance yourself, ensuring it covers the entire term of your lease. However we work closely with a third-party company so we can point you in the right direction!
GAP (Guaranteed Asset Protection) insurance covers the difference between the amount your insurance pays out if your car is written off or stolen, and the remaining lease balance. While it’s not mandatory, it’s highly recommended for leased vehicles.