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What is Personal Car Leasing?

Personal car leasing (also known as Personal Contract Hire, or PCH for short) is a form of car finance. But how does car leasing work exactly? In short, you enter a personal lease contract with a leasing broker, you pay a “deposit” called an initial rental, and then you make monthly payments until your contract ends. The cost to lease a car is equal to the value that the vehicle depreciates during your lease.

This depreciation value is influenced by factors like your contract length, your estimated annual mileage, and the specifications of your chosen car. When you take out a car lease, you never own the car outright - you pay to get behind the wheel of a modern-spec, brand new vehicle which you can easily hand back at the end of the contract. Then the cycle continues when you fancy a new car!

Benefits of Personal Car Leasing

Brand New Car

Ah, that new car smell - need we say any more? All car lease vehicles are brand spanking new. No need to worry about wear and tear like you would in an older model.

Flexible Deals

Find a deal or special offer on your terms. Adjust your contract length, agreed mileage, and monthly budget to suit your individual needs and preferences.

Fixed Monthly Payments

You’ll pay an initial payment and then agree on the monthly cost which will not change during your contract. Budgeting is made much easier!

Latest Technology

You can enjoy the latest driving gadgets and gizmos in a top spec car which you may otherwise not have had access to if you had to buy outright.

Road Tax Included

Tax is one less thing to consider when leasing. You can have peace of mind that it’s already included in the deal price!

Manufacturer’s Warranty

Since the car is factory fresh, you’re covered by the manufacturer’s warranty should there be any faults (we hope not!).

How does Lease Fetcher Work?

We Collect Car Leasing Deals

We gather lease deals from the UK’s top BVRLA-approved leasing companies. This way, you can see deals for your favourite models in one place. Easy!

We Help You Compare Lease Deals

Using our handy filter system, you can compare these deals by manufacturer, fuel type, mileage, budget, emissions, MPG, and more!

We Connect You With Leasing Brokers

When you’ve settled on a deal, you can enquire about it with the leasing broker through Lease Fetcher. We’ll then wave goodbye as you sort out the finer details directly with the broker.

Personal Car Leasing FAQs

Why should I lease a car instead of buying?

There are a few pros to leasing a car vs buying a car. Since you only need to pay off the cost of depreciation, you have access to a wider range of high spec brand new cars that you may not otherwise be able to afford if you bought outright. If you’re someone who likes to keep up with the latest automotive trends by trading in for a new car every few years, it’s more cost effective to lease than buy when you consider how much value you’ll lose through depreciation. No haggling with dealerships for a good sale price when you’re ready to move on - simply hand the car back to the leasing broker and sign a contract for another new car.

Do I need a good credit score for leasing?

For finance providers to be sure you’ll be able to make your monthly payments, you’ll need to pass a car lease credit check before you can enter a contract. It is possible to lease a car with a poor credit score but you’ll have restricted options and will likely have to pay a higher initial rental. Another alternative is to appoint a guarantor for your car lease.

What is an initial rental?

An initial rental is like a deposit where you pay a multiple of your monthly payment upfront. This can be as low as 1 month but generally it’ll be 3, 6, 9, or 12 months in full. The higher your initial rental, the lower your remaining monthly payments will be.

Can I get a no deposit car lease?

If you opt for a 1 month initial rental, it is essentially like paying no deposit. This 1 month payment will also count as your first month’s payment - so two birds with one stone! Your remaining monthly payments will be higher with a low or no deposit car lease.

How does insurance, servicing, maintenance and repairs work with car leasing?

You pay for your own insurance when you lease a car. You are usually required to take out fully comprehensive coverage to cover you in case your lease car is written off or stolen. You also have the option of taking out lease gap insurance to cover the potential gap between your insurance payout and what you owe the leasing company.

Your lease contract will stipulate that you must service your lease car at regular intervals at approved garages. You can take out additional lease car maintenance packages to cover wear and tear issues, and any bigger lease car repairs will either come out of your insurance or will be covered by the manufacturer warranty for your lease car.

How long do I have to wait for my new lease car delivery?

Lease car delivery lead times vary. Some brokers will have some models in stock already so you’ll only have to wait a few weeks. If not, you’ll have to wait for the car to be built to your specifications. The length of time this will take depends on the time of year, model demand, and location of the factory. This can take anywhere between 2 weeks and 6 months. Other factors can hold lead times up, including putting a private plate on the lease car.