Personal Car Leasing Explained

Understanding Car Leasing

Car leasing, simply put, is like a long-term car rental. You don’t pay the full price upfront; instead, you spread the cost over a fixed period with monthly payments.

There are different types of lease agreements:

• Personal Contract Hire (PCH): Think of this as a long-term rental. At the end of the contract, you simply return the car.
• Personal Contract Purchase (PCP): This offers the best of both worlds. You can return the car at the end of your lease or, if you’ve grown attached to it, buy it by making a final payment.
• Hire Purchase (HP): It’s straightforward – you’re buying the car in instalments. Once you’ve made all the payments, it’s yours. At AVL, we stand by your side, ensuring you’re equipped with the information to make the right choice for you.

Benefits of Leasing

1. Cost Savings: Often, leasing allows you to drive a higher-end car for a similar monthly cost compared to buying.
2. Stay Current: Enjoy the pleasure of driving the latest models equipped with the newest tech.
3. Reliability: Fixed monthly payments and manufacturer warranties make leasing one of the best ways to reliably stay on the road. For total peace of mind, get a maintained contract for included servicing and maintenance.
4. Flexibility: Depending on your agreement, you can return the car, purchase it, or switch to a newer model at the end of the lease.

Journey to Your New Car

1. Choose Your Vehicle: Whether you’ve got a specific model in mind or you’re looking for some advice on finding the right vehicle to suit your lifestyle, our team will help you find it at a great price.
2. Arranging Finance: With a wide range of funders and products available, our experts work to find you the best offers available.
3. Order & Delivery: Once credit approved, AVL takes care of ordering and delivering your new car.
4. Payments: Your initial payment is usually taken within two weeks of delivery, followed by fixed monthly amounts.
5. End of Contract: When your lease ends, your next steps hinge on your lease type. Return, buy, or refresh with a new lease.

Your Lease, Your Way

Leasing offers flexibility. Whether you’ve set your heart on a specific make and model or you’re keen to explore the best available offers, it’s up to you. Each contract is tailored to your preferences, allowing you to decide on your annual mileage, the length of your lease, and a payment structure that suits you.

The overall cost of your lease is influenced by:

• The car’s initial value.
• Its estimated value at the end of the lease.
• Your chosen annual mileage.
• The initial payment.
• The duration of your lease agreement.

With leasing, it’s about ensuring the right fit every time.

Ready to Lease?

Leasing requires a few prerequisites. Ensure you have identification, proof of income, and address.

A history of CCJs, IVAs, or bankruptcy can pose challenges.

You’ll need to offer up five years of employment and housing history, and a lease needs a thumbs-up from a credit check.

Still got questions? Give us a call or have a look at our personal car leasing offers today