COVID-19 – What does it mean for my new lease car?
First and foremost, we wish all of our customers & partners the best of health in these uncertain times and we urge you to stay at home, don’t travel unnecessarily and to follow the latest advise on the government website.
There is a general downturn in the manufacturing and delivering of factory order vehicles. Lead times will increase and the current length of delay is unknown.
A handful of leasing providers have decided to close their doors due to the current situation, however we will only display the deals of providers who are still open or trading.
Please remember that we are a comparison site so please confirm lead times when making an enquiry with our leasing providers. We encourage users to select ‘in stock’ cars to ensure you have more certainty around your choice.
Auto Lease Compare Team
What Is Leasing?
What Is Leasing?
Love having a brand new car every few years? Crave that new car smell? Then Personal Contract Hire (PCH) or Business Contract Hire (BCH) is the most affordable, convenient and hassle-free way to move forward.
Leasing a car is just like renting anything else. If you rent a house or flat, you pay a deposit, then you use it for an agreed period paying a set amount each month. Once the contract ends, the property reverts back to the landlord.
It’s the same with vehicle leasing - you chose which brand new car you want, how long you want the car for (2, 3 or 4 years), what payment you can afford upfront (normally 1, 3, 6, 9 or 12 months initial rental) and how many miles you think you will drive. Then find fixed monthly payments that suit your budget. It’s a long term rental agreement so you won’t be purchasing the car, you simply return it at the end of the lease term and get another brand new one if you’d like. Simple and hassle free!
Difference between Personal Contract Hire (PCH) & Business Contract Hire (BCH)?
The difference between personal contract hire and business contract hire is essentially how you use the vehicle. PCH is personal hire where the vehicle is purely for personal use and BCH is where a vehicle is used for business use (but can be used for personal reasons too). Both types of contract have the choice of vehicles and versatility with regard to deposits and monthly expenditure.
Business contract hire is available to financially eligible sole traders, partnerships and limited companies. For VAT registered businesses, you can claim back a percentage of the VAT on the monthly payments (depending on the type of vehicle) and 100% of the VAT of the maintenance agreement. Businesses also like the benefit of the vehicle not appearing on the 'Balance Sheet' as it is owned by the leasing company - this means that the liability of the finance is not shown on the company accounts.
How does Personal Contract Hire (PCH) differ from Personal Contract Purchase (PCP?)
With PCP there is an interest charge on your payments, with leasing there is none, you are simply just paying the depreciation on the car. At the end of the term there’s no haggling at the dealership over the final vs estimated value of the vehicle. It’s likely with PCP you will then have to negotiate a part exchange with the dealership to get a new vehicle, or, you can buy the car outright – known as a ‘balloon payment’.
Benefits of Leasing
You can afford a brand new car which you never thought you could afford.
Purchasing the lease is hassle-free.
Fixed monthly payments, which are cheaper than buying.
You can choose how much you want to pay upfront (normally 1, 3, 6, 9 or 12 months initial rental).
You can choose how long you want the car for (normally 2, 3 or 4 years).
Vehicles can be delivered straight to your home.
No hefty financial loan to buy the car (which is suitable for individuals with bad credit).
Much lower maintenance costs, road tax and breakdown cover come as part of the package, servicing sometimes too!
New cars do not need an MOT in the first three years of their life.
Manufacturer’s warranty included.
Avoid deprecation costs of vehicles.
You can get another brand new vehicle once the lease period is finished.
How It Works (it's simple!)
How it Works?
1. Choose Your Perfect Vehicle On AUTO LEASE COMPARE
Select the make, model, specifications and the initial rental payment which suits you. Compare millions of deals from leasing companies to find the best price and package.
2. Contact The Leasing Company Through AUTO LEASE COMPARE
Through our website you can send an enquiry, or request a call back from the leasing companies’ sales team to discuss all the details and agree on a personalised deal.
3. Place Your Order With The Leasing Company
Once you are happy with your quote, place your order with the Leasing Company.
4. Recieve Your Vehicle
Vehicles can be delivered straight to your door or collected from the leasing company.
5. Monthly Payments
Pay a set amount each month, generally over a period of 2, 3 or 4 years.
6. Return Car
At the end of the contract, you simply return the vehicle to the leasing company, and get a new one if you like! Buy another lease vehicle through us again and receive a £50 Amazon voucher. See our Ts & Cs for details.
Frequently Asked Questions
Where do you get your prices from?
All our partners (leasing companies) are responsible for supplying and updating the prices they advertise on Auto Lease Compare. Prices are constantly being updated so be sure to check regularly to ensure you are getting the best possible deal.
How can I trust the prices you show?
When it comes to our partners (leasing companies), we don’t choose favourites. We offer impartial and independent comparison and our results are always ranked by price. We do not add on any additional fees onto the prices provided to us by the leasing companies.
Is the price advertised the total amount I will have to pay?
If you decide to add any options or additional extras to your vehicle then the price may change. The price may also change due to other factors, such as retail price increases or model specification changes. The supplier will provide you with an up to date price when you place an order with them.
Shouldn’t I just buy direct from providers?
We compare the market for you, letting you see prices and deals of the vehicles side-by-side. We make it easy for you to compare prices from the various leasing companies all in one place, no more time wasting trawling the internet! Contacting the leasing company by submitting an enquiry though Auto Lease Compare is the most efficient method to get in contact.
Can I submit more than one enquiry?
Yes, all enquiries you make are free and you are able to make as many as you like, it’s inevitable you probably have your eye on different models or would like to contact various suppliers about a particular model. We are confident you will find the perfect deal on Auto Lease Compare, but making an enquiry does not mean you are under any obligation to order a vehicle with any supplier.
How do I claim my £10 Amazon voucher?
If you successfully purchase a lease vehicle through us, you are entitled to claim your £10 Amazon voucher. We will need to verify the lease purchase first, we will then send your electronic voucher via email. To claim your voucher please see our Terms & Conditions for detailed steps to claim this voucher. Please note this voucher is only valid for your first leased vehicle through us.
How do I claim my £50 Amazon voucher?
If you buy a second lease vehicle through us, you are entitled to claim your £50 Amazon voucher. We will need to verify the lease purchases first, we will then send your electronic voucher via email. To claim your voucher please see our Terms & Conditions for detailed steps. Please note this voucher is only valid for your second leased vehicle through us.
Does the location of the lease company matter?
It doesn't! Leasing companies are located throughout the UK and the partners we have on Auto Lease Compare are set up all around the country. Regardless of their location, the leasing company will almost always arrange to deliver your brand new car straight to your front door and all paperwork is done via email, this alleviates the need for a leasing company to be near you.
How does the initial rental (deposit) affect the monthly rental price?
The amount you choose as your initial rental will affect your monthly rental cost – the bigger your initial rental, the less your monthly rental cost will be.
How does the mileage I choose affect the monthly rentals?
Your estimated mileage is used to calculate your monthly rentals based on the estimated residual value of the car at the end of the lease agreement. The higher the mileage, the higher the cost of the monthly rentals.
Do I need to MOT my new lease vehicle?
New cars do not need an MOT in the first three years of their life, once your car is over three years old, you will need to get it tested every year thereafter.
Can I add a personalised number plate to my lease vehicle?
Yes this is possible is you follow the steps provided by the DVLA.
Will I be charged for damage to the vehicle?
You will only be charged if the damage is above what is called “fair wear and tear”. This refers to damage that is considered acceptable after someone has been driving it for the length of a contract.
If your questions are not included in the above, please send us an email to firstname.lastname@example.org and one of our friendly team will be happy to help you.