Leasing (also called Personal Contract Hire) is essentially a long-term rental. You pay an initial payment followed by fixed monthly payments to drive a brand-new car for an agreed term and mileage. At the end you simply hand it back and pick your next one. With optional maintenance packages, leasing can be one of the most hassle-free ways to always drive something new.
Best for
- Drivers who always want the latest model
- People who don't want to own or sell a car
- Anyone wanting predictable, all-in motoring costs
- Drivers with steady, predictable annual mileage
Pros
- Always drive a brand-new car
- Fixed monthly costs with optional maintenance
- No depreciation or resale worries
- Lower initial outlay than buying
Things to consider
- You never own the car
- Mileage limits with excess charges
- Early termination can be costly
How car leasing works
Pick your car
Choose your make, model and spec from a brand-new range.
Add maintenance
Optionally include servicing and maintenance for true peace of mind.
Hand it back
Return the car at the end and lease your next one.