How Does Vehicle Leasing Work?
Vehicle leasing, also known as contract hire, is essentially a long-term rental which allows an individual to drive a new car, usually covered by a manufacturer's warranty, for an agreed period of time for a fixed monthly fee.
Vehicle leasing is becoming increasingly more popular as it gives drivers peace-of-mind by allowing them to pay a fixed monthly fee without having to worry about the depreciation value of the vehicle.
Initial Rental
The initial rental is an up-front payment made on your lease vehicle. Typically, the more you pay upfront, the less the monthly rental will be.
Contract Term
The contract term refers to how long you would like the leasing agreement to last (24 months, 36 months, 48 months...). Generally, the longer you lease a vehicle, the less the monthly rental will be.
Maintenance
It is your responsibility to ensure your lease vehicle is correctly maintained in-line with the manufacturer advised service schedule. For complete peace-of-mind a maintenance package can be included in your lease agreement for a fixed monthly fee.
For more information about vehicle maintenance click here.
More Info
If you would like more info, or if you have any questions about vehicle leasing, please contact our friendly leasing specialists on 0161 641 4111.
