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Car Leasing At Stoneacre

Gold Peugeot on a lease driving on a city road

What Is Car Leasing?

Car finance has evolved over the years into something really quite flexible. Want to own the car the end of the agreement? There’s a package for that. Not sure if you want to own or swap the car at the end? There’s a package for that, too.

Do you know for sure you’ll want to hand the car back and get a new one at the end of the agreement? Well, that’s where Leasing comes into the equation.

Leasing a car is best explained by comparing it to renting a house – you pay to use it, but you’ll never own it. Similar to the likes of HP and PCP, you’ll pay a deposit equivalent and a set amount of monthly payments, but the car will never be in your actual ownership.


How Is A Car Leasing Deal Structured?

Car interior

Car leasing deals are very straightforward. You start with the Initial Rental, which is effectively the same as a deposit, but it is made up of so many monthly payments; this number is typically made up of three, six or nine monthly payments.

It’s then a case of paying the agreed number of monthly payments over that time. You’ll find most car leasing deals are structured between 24 and 48 monthly payments.

You’ll also come across something called a Profile; this is a simple equation of how the deal is structured.

For example, if the Profile says 3+35, that means the Initial Rental is made up of three monthly payments, with 35 more monthly payments to follow until the agreement ends.

Consider this...


There are a couple of other factors to consider. Mileage will be restricted to a certain amount during the contract. So, if you agree to 8,000 miles per year on a 36-month agreement, you have a 24,000-mile allocation for the duration you have the car. If you go over this allocation, you’ll be charged on every additional mile done.

 

Secondly, be sure to keep the car in as best condition as possible. If it’s been deemed the car has endured more damage than the wear & tear policy dictates, you’ll be charged for the repairs.


Car Leasing Deal - Example

Initial Rental


£2,359 - equivalent of 9 monthly payments

Monthly Payment


35 consecutive payments of £262.11 - Profile: 9+35

Annual Mileage


8,000 miles per year - total allocation of 24,000

How Do I Get My Lease Car?

 

The beauty of leasing a car is that you don’t have to go to a dealership to both order your car or pick it up.

 

As leasing is for brand new cars, you’ll have greater confidence in ordering without a test drive. Through the likes of Stoneacre Leasing, everything can be done over the phone, and we’ll deliver your car right to your door for no charge when it’s ready.

Close-up of Alfa Romeo alloy wheels

Can I Get Maintenance Packages With My Lease Car?

Another benefit to car leasing, is that you can tie servicing, tyres and other replaceable components into your package, enabling you to pay for the car and maintenance easily together in manageable payments.

Some maintenance packages will differ, however, so check whether they include the likes of tyres. It’s also important that a tyre won’t be replaced if it gets damaged (i.e. nail in tyre), and will have to be paid for separately by the driver. Additionally, windscreen repair is not included in such packages, and should be dealt with through your insurer as normal.

High mileage drivers benefit the most from car leasing maintenance packages, but take your time to work out costs versus needs to see if one is worth your time and money.

Stoneacre leasing logo

Car Leasing Special Offers

At Stoneacre Leasing, we have more car leasing special offers than you could believe. And furthermore, you can tailor your own leasing deal through our interactive calculator that is found on every car we offer.

We aim to make car leasing online as easy as possible with our calculator, helping you check affordability in a matter of seconds.

Private vs Business Leasing

Read our personal vs business contract hire comparison.

- Car is personally funded


- VAT is included/paid


- Car is leased in user’s name only

- Car is funded and registered through company


- 50% of VAT on the lease can be claimed back (if VAT registered)


- All of the VAT on a Maintenance Package can be claimed back (if VAT registered)

  • Private Car Leasing

    - Car is personally funded


    - VAT is included/paid


    - Car is leased in user’s name only

  • Business Car Leasing

    - Car is funded and registered through company


    - 50% of VAT on the lease can be claimed back (if VAT registered)


    - All of the VAT on a Maintenance Package can be claimed back (if VAT registered)

Any Downsides To Leasing A Car?

 

There are many benefits to leasing a car, including cheaper payments, maintenance packages and short contracts – however, you do need to consider a few factors.


  • Lack of flexibility

    We emphasise once more that you will not own the car at the end of the contract, nor will you have the option to. If you want flexibility at the end of the contract, consider a PCP deal instead.

  • Damage costs

    Also remember that you will need to pay for any damages over and above the wear & tear policy, which could be expensive if you’ve had any scrapes during the contact.

  • Early termination

    If you require early termination, this can be expensive to settle with whomever you leased the car from.

  • Car insurance

    When leasing a car, you will also need fully comprehensive car insurance.

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