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How leasing works

A lease is essentially a long-term rental agreement, offering exclusive use of a car for a set period at a fixed monthly price. All cars and vans are brand new unless stated, and come with a manufacturer’s warranty, road tax and free nationwide delivery.

As a business, leasing is the most cost-efficient method of funding a vehicle as it takes advantage of tax and VAT regulations to reduce the whole lifecycle running cost of your fleet or an individual vehicle. Leasing is also supported by the buying power of the finance company, to assist in reducing the cost even further.

Personal leasing also provides many advantages, including one set monthly fee that includes all standard maintenance for the car throughout the agreed term.

One of the greatest concerns when buying any new car is depreciation, with many new cars losing more than half of their initial value after the first three years of ownership. This is avoided when leasing a car as you can simply hand this back at the end of the term, providing added peace of mind and the ability to change your car again at the end of this period.

Leasing explained

Leasing a car lets you avoid any unexpected costs by offering a fixed monthly payment for the term of the lease.

Unlike dealer finance or bank loans, you only pay for the depreciation of the vehicle over the term rather than the full capital value.

Rather than paying a large deposit, you simply pay a small initial amount, usually equivalent to three months’ payments, at the start of the lease.

Then, at the end of the lease period (typically two or three years), you simply hand the car back. The job of selling the car and accounting for any depreciation is the responsibility of the lease company.

Cartime Leasing is a trading style of Car Time Motor Company UK Ltd, we are authorised and regulated by the Financial Conduct Authority. Registered No : 313486

Registered in England & Wales with company number : 8026251 | Data Protection No : | VAT No : 132 508 147

Registered Office : Uhy Hacker Young St James Building 79, Oxford Street, Manchester, M1 6HT

Disclaimer: All vehicle images and descriptions are for illustration and reference purposes only, all vehicle leases are subject to credit approval and subject to change at any time. E&OE.

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