Personal car leasing has increased in the UK in recent years, and it’s a proposition that continues to attract many. The fact is, when you lease a car, you don’t have to have a large deposit –you can simply settle a specific payment per month, allowing you to drive the car you’ve always wanted to drive. The significant aspect about car leasing is that you can choose from a wide selection of cars – most of which are new – without worrying about a big deposit, big monthly payments, depreciation, maintenance, and mechanical issues. If you’re seriously considering a personal car lease, however, it’s always good to learn as much as you can about it so that you can make the proper decision. Here, then, are the most important facts you need to know about personal car lease deals in the UK.
What are its benefits?
With a personal car lease, you can drive a new car without having to spend too much of your hard-earned money. You just have to make sure you can afford the monthly payments, which can range from as low as £180 to about £500, depending on the make and model. Terms are flexible for personal car lease deals as well; you can opt for contracts of 24 months up to 48 months. Also, your monthly payments for the car will already be fixed, so it’s easier for you to plan your budget around it. And at the term’s end, you don’t have to deal with the hassle of selling the vehicle – you can just return it to the leasing provider.
For you to qualify for a personal car lease deal, there are certain requirements. These requirements can, of course, vary from one leasing company to the other, but in general, the conditions are as follows:
You should be over 21 years old
You should have a full driving licence for the United Kingdom
You should be able to present an employment history, usually for about three years
You should be able to present a history of your address or residence, generally for about three years
You should normally have a good credit score or rating, although you may still be able to get a personal car lease deal with less-than-good credit
How the process works
If you fit the criteria, then you can begin the process of arranging a personal car lease deal. The first step (which is also the most exciting one) is choosing the vehicle. Which manufacturer do you want? Which make and model do you want? Once you have answered these questions and determined the right kind of vehicle for you, you can look for leasing companies such as https://www.genusleasing.com which offer the vehicle you want and get in touch with them. The leasing company will ask you to submit your supporting documents, and they will assess them. They will inform you when you are qualified. When dealing with the leasing company, you can also choose to customise the car’s features based on your preference. A typical car lease deal will already include road tax and the car’s warranty, but you can also opt to have a maintenance package, so the car’s maintenance is already taken care of for you. Although your monthly payment may have a slight increase, it’s worth it. Happy driving!
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