What is personal leasing?

Here is our handy guide to understanding personal car leasing

Buying a car can be one of the biggest expenses of your life, especially if it is a brand new one. It is usually second in line to buying a house and this is where leasing a car becomes a viable option. Personal Contract Hire (Personal Leasing) is where you rent a car for a fixed amount of time, normally a few years (2-4), at a fixed price that you pay monthly. At the end of the agreement, you simply hand the car back to the finance provider.

The benefits of leasing are:

  • It includes the Road Fund Licence for the full agreement
  • You have the option to include a full maintenance package which provides you with worry-free driving
  • You don’t have to worry about selling the car at the end of the contract
  • Static monthly payments, just like a mobile phone contract
  • Brand new cars at affordable monthly payments
  • Manufacturer warranty included on all new cars resulting in repairs on mechanical failures at no cost
  • You can terminate the agreement early, you will be provided with a termination figure
  • No depreciation risk, the future value sits with the finance provider

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