How to Time Your Lease – When is the Best Time to Lease a Car?

It’s the start of a new year and you might be thinking to yourself, like many other people, that it is time to get yourself a brand-new car. Leasing a car can be a great way to get a new vehicle without paying for it upfront. 

However, timing your lease correctly is essential to ensure you get the best deal possible and we at AVL are here to help. With over 25 years of experience in leasing vehicles, we know all the top tips and tricks for getting the most out of your lease agreement and are passing on some of our wisdom today. 

Knowing when to start your lease agreement, what to look out for in terms of incentives and special offers, and researching the current market can all help you make an informed decision when it comes to timing your lease. By following these simple steps, you can make sure you secure the best deal for your needs and get the most out of your lease agreement. So, what are you waiting for, stop Googling ‘ Best time to Lease a Car’ and kick into gear by reading our blog. 

• What is leasing a car?

• Benefits of leasing a car

• Timing your lease right – factors you should consider

• Start date: when is the best time to start your lease?

• Tips for timing your lease

• Incentives and special offers: how can you make sure you get the best deal?

What is leasing a car?

Leasing a car is a common way to make a short-term investment that covers the cost of a car over some time. Leasing offers several benefits over purchasing a car, most significantly, you can have a brand-new vehicle without having to pay a hefty upfront cost. There are many different types of lease agreements on the market today, below we have listed the four main types. 

• Personal Contract Hire (PCH): People who opt for PCH, which is based on a fixed-term contract, pay a recurring charge to use a vehicle for an arranged length of time. 
• Personal Contract Purchase: Those who desire options once their financing arrangement ends should use Personal Contract Purchase (PCP). At the start of the term, they pay a preliminary fee, a steady monthly payment, and an elective final payment (OFP), which is often referred to as the GFV, at the end of their contract.
• Lease Purchase: With a lease purchase, individuals make a lump sum payment at the end. They give a certain periodic payment, yet after the contract, they are obliged to make the final payment and purchase the car.
• Hire Purchase: The customary way of financing cars is through hire purchase. After making a fixed monthly payment until the end of the contract, the individual becomes the sole proprietor.

Still need some more information about what leasing a car entails, read our blog ‘All You Need To Know About Leasing A Car – A Guide’ for more information. Alternatively, visit our leasing options page today to find out all about our different lease agreements. 

Benefits of leasing a car

Why should you lease a car rather than plunge in and make the purchase? Below we have provided a few good reasons to re-think paying a hefty down payment on your hot new ride. 

Flexibility: you can switch cars whenever you want, which can also help you keep your monthly expenses down whilst driving a brand-new vehicle. 

Low initial outlay: this is only one payment and it will be paid off throughout the lease. This means you don’t have to come up with a large amount of money all at once. 

No depreciation: you are not losing out on the value of the car. 

Easy to resell: you can resell the car at any time. This means you don’t have to worry about handing over the keys when your lease is up.

If you want to find out about all the benefits of leasing a car rather than purchasing one, read our blog on ‘The Benefits of Leasing Your First Car’. 

Timing your lease – factors you should consider 

Did you know that it is important to time your lease so that you get the best deal on the car? There are many factors that you need to consider when timing your lease, below we have listed the top three things you should take into account before going full pedal to the metal. 

Length of The Lease: The first is the length of the lease. The longer the lease, the less you will be paying each month. However, the longer the lease, the longer you have to pay for the car. 

Type of Vehicle: Certain makes will be cheaper at different times of the year, so it’s best to pick a vehicle you like first and then do your research about that specific car manufacturer. If you would like to see all the brands of vehicles we carry click here. 

Age of the Vehicles: Most lease agreements will offer brand-new vehicles, however, this is not always the case. If you are looking at getting a newer vehicle but want to save some money, it might be beneficial to wait until the new year to get the previous year’s model at a discounted rate. 

Start date: when is the best time to start your lease?

Vehicle manufacturers roll out new cars over the year, but the majority of them coincide with the March and September registration plate releases. This is a great period for car sales as plenty of people try to acquire a car with the latest licence plate. 

However, leasing companies require a certain amount of time to evaluate the residual value of the vehicles, which leads to inflated fees at the start. This means that the monthly lease payments are significantly lower due to the minimised estimation of the car’s depreciation.

You can also get a great deal if you wait till the new year to snap up the previous year’s model as that vehicle will usually be less desirable, meaning most leasing companies offer these at discounted prices. 

Tips for timing your lease

Below we have provided some of our top tips for timing your lease agreement just right. 

Research the market: you can find the best deals by comparing lease offers and researching the market. Make sure you know what other people are getting for their money and that you are getting your lease agreement from a reputable and reliable company. 

Shop around: don’t just lease the first car that you are offered. Make sure you shop around and get the best deal for your needs. Compare multiple different makes, models and companies to find the best deal for you. 

Keep your credit score in mind: if you want to lease a car in the future, you will need to have a good credit score to get approved. So, keep on top of your score and make sure you are in a position to be approved. 

Incentives and special offers: how can you make sure you get the best deal?

There are some different ways you can make sure you get the most out of your lease. 

• Shop around for the best deal – Make sure you shop around and compare offers from several different companies. You can do this by comparing prices from many different websites and using comparison engines. 

• Look out for special offers – The second tip is to make sure you keep your eyes open for lease deals and lease offers. There are many offers and promotions regularly that could save you money. Take a look at our special offers page to find the best deal on all your favourite car brands.  

We hope you have found this information useful and informative, if you want to find out more about our lease agreements check out our lease options page today or get in touch with us. 

Get in Touch with AVL Today

Here at AVL we have a huge variety of brand new electric cars to choose from. If you are looking for a specific electric vehicle we haven’t mentioned, visit our website today to find your perfect car today.