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How to lease a car

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You may have heard of the term leasing or someone may have suggested that you should lease your next vehicle. In this guide, we are going to explain exactly what a vehicle lease is and how it can work for you.

What is a vehicle lease?

First of all, let's start with exactly what a vehicle lease is. A vehicle lease, also known as contract hire, is a medium to long term hire agreement of a vehicle. Typically agreement time frames are between 24 and 48 months, are on new vehicles and the vehicle is returned to the lease company at the end of the term.

How does a vehicle lease work?

A vehicle lease is very similar to PCP finance but with the big exception being that you do not own the car and cannot purchase the vehicle at the end of the agreement. The big benefit being that you can plan the total lifetime cost of driving that vehicle. There are also savings to be made on both the deposit and monthly payments.

To create a payment plan, you first decide what vehicle you would like to lease. You can then decide on what payment profile suits your circumstances. This is the initial payment combined with how long you would like to lease the vehicle for and, as an example, may be displayed as 6 + 35. In this case, this means the initial payment will be made up of 6 payments combined, followed by 35 seperate monthly payments, with the vehicle being returned at the end of the 36th month. Finally, decide how many miles you will be driving per year and your plan is complete.

How can Red Kite Leasing help?

Here at Red Kite Leasing, we have put togther the best offers on business and personal contract hire for both cars and vans, which you can see via the links.

If you would like to learn more about how we can supply your next vehicle, please do not hesitate to get in touch via the website or call us on 01993 773514.

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Posted on 7th May 2019 at 10:02 PM

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