Car Lease from Lease World

Car Lease

Car lease is like a long term rental where you hire your choice of vehicle for a set period, usually 24, 36 or 48 months. 

If you're considering car leasing, look no further than Lease World for unbeatable lease deals that cater to your specific needs. 

At Lease World, we pride ourselves on offering a wide selection of lease cars, competitive pricing, and exceptional customer service to make your leasing experience seamless and enjoyable. 

Whether you're looking for a compact car for city commuting or a spacious SUV for family adventures, Lease World has got you covered. 

Take advantage of our attractive new car lease deals and order the car of your dreams today. Choose Lease World for a hassle-free leasing experience that exceeds your expectations. 

Why Lease with Lease World?

Vehicle Lease Frequently Asked Questions (FAQ's) and answers.

Leasing a car is a cost-effective and hassle-free way to drive a brand-new vehicle whilst benefiting from fixed monthly payments, manufacturer warranties, road tax and free delivery. 
We supply all makes and models of new vehicles from a national network of franchised main dealers and car manufacturers.
 
You don't even have to collect your vehicle as delivery is free of charge. There is the option to add maintenance to the finance package, which covers your cost of maintenance, services and replacement tyres.

We are here to answer your questions...

Starting a car lease

Who can lease a car?

Anyone can lease as long as they meet the following criteria: 

1. Resided in the UK for 3 years or more and are on the electoral role. 
2. Hold a driving license that is valid in the UK. 
3. You must be 18 years old or above.
4. You must have a good enough credit score. 

Finance is subject to status.

Why should I lease a car?

You can drive a brand new car every few years, plus you enjoy fixed price motoring. In addition you don't need to worry about depreciation or selling the car in the future.

Do you offer deals near me?

We offer free nationwide delivery to your home or place of work - your location is not an issue. 

Why choose Lease World?

With over 30 years' experience, we are able to make the process of driving a new vehicle as simple and hassle-free as possible. Over this time, we've forged strong, lasting relationships with the largest dealer groups, manufacturers and vehicle finance companies, enabling us to secure the best discount terms which we pass on to you. We focus on building long-term customer relationships, ensuring that repeat customers and recommendations form a substantial part of our business. 

We have competitive offers right across the board including:
*     A brilliant search facility that makes it simple for you to find the best solution for you. 
*     A savvy alternative to the salary sacrifice car scheme for NHS workers
*     Top deals options for ADI driving instructors and Driving schools.
*     The UK's largest choice of quality used cars.
*     Special pages to make things easier such as SUVs, Electric, Automatic and Vans.

What lease durations are available?

The majority of our offers are for 24, 36 and 48 months however, we do have a very limited selection of short term offerings available on some models. 

When/How do I make the initial payment?

The initial payment method varies from funder to funder. The majority take the initial payment by direct debit on the day of or just after the day of delivery. Some ask for the initial payment to be made 48 hours prior to delivery.

How do I get my new vehicle?

Delivery is free on all new vehicles anywhere in the UK and we will deliver to you at home or at work depending on your preference.

Calculating the lease costs

How is the price calculated?

Roughly 95% of what you pay is “depreciation”. Depreciation is the difference in value between the price of the car when purchased (purchase price) compared to the anticipated end value (residual value). The depreciation is paid back over the period you decide and the payment profile you choose. Generally longer leases offer a lower monthly payment as the fall in value is not as severe as a shorter one - plus you have more months to pay it back.

Why is the fall in value not so severe on a longer lease?

New cars depreciate very sharply in the first one-two years and less so in the third year and less again in the forth and so on. Therefore usually (although not always) the longer the hire period the lower the monthly payments.

Why does it cost more if I do higher mileage?

This is down to depreciation. A car returning with 60,000 miles on the clock is going to be worth a lot less than one returning with 30,000 miles. This means that there is more depreciation and so more to pay.

What is an excess mileage charge?

Back at the beginning when you were getting quotes, the quotes show what it would cost (pence per mile) should you exceed the contracted mileage. Excess mileage charges are not for profit but cover the additional vehicle depreciation. The more miles you do the less the vehicle is worth and so the more you pay to balance the difference. 
Excess mileages tend (although not always) to be higher for a full maintenance – this is because the more miles you do the more services and maintenance the vehicle will need and it’s the funder that are paying for this on a full maintenance package.
If an excess mileage charge is 5 pence per mile - this equates to £50 per thousand miles.

During the Lease

Where do I go if the vehicle needs a service or repair?

We recommend you use your local main dealer for your make of car, or take the vehicle to any reputable garage that is authorised to work on the vehicle you have and use original manufacturer parts so as not to invalidate the warranty.

What is a full maintenance package?

A full maintenance package is bolted on to a standard contract. A maintenance package generally covers service costs, maintenance charges and tyres replacement – It does not include motor insurance. You pay more to have a full maintenance package but it does come with peace of mind and makes budgeting easier. You choose if you want a maintenance pack or not – it makes no difference to us either way.

What if I have an accident?

The same process would apply as if you owned the car or had it on hire purchase. You contact your insurance company and let them deal with the finance company directly on your behalf. If your vehicle needs to be off the road for repair you will need to sort out a short term interim car. Note: This is not the responsibility of the funder.  Depending on the level of motor insurance cover your insurer may be able to provide you with a short term rental car.

What if the car is a write-off?

Your insurer would liaise with the funder to work out a settlement. During this period you are responsible for keeping up to date with your payments as the contract does not terminate until the insurance is settled. When you are ready you can order a new replacement vehicle or not – the choice is yours.

End Of Lease

What do I do at the end of the lease agreement?

At the end it is your responsibility to contact the funder directly to arrange the collection of your vehicle. If you have ordered a nice, new, shiny replacement vehicle from us it is best to try and make this coincide so that you are neither responsible for 2 cars at the same time or without a car. Funders are normally accommodating and will allow flexibility on the return of your existing vehicle. When the vehicle is collected a record of the condition of the vehicle will be made including photographs – you sign a collection note to confirm you agree. Depending on the condition you may be responsible for the cost of repairs to damage that is not deemed to be fair wear and tear.
All funders use the guide to fair wear and tear which is a document produced by the BVRLA and outlines what should and shouldn’t be charged. I can provide you with a copy of this publication if required. In addition to handing the vehicle back you normally get the opportunity to keep the vehicle for a longer period by extending the agreement as well as purchase the vehicle. Both of these options will need to be discussed with the funder directly.

What happens if the car is worth less than the funder anticipated?

One of the key benefits of Personal Contract Hire is that the risk is all with the funder and not you. If the funder set the amount payable by thinking a vehicle would be worth £10,000 at the end but it is actually only worth £8000 it’s their bad luck. You are not at fault and you are not responsible for this.

Can I buy the vehicle at the end of the contract?

You may be able to purchase the vehicle from the finance company at the end of the agreement depending on what contract you are on. The price will be based on the estimated residual value of the vehicle. You might even want to fund the purchase by using a bank car loan or a Hire Purchase agreement.

Can I extend the contract?

You are usually able to extend on an informal extension or a longer extension over 6 or 12 months might even result in a cheaper monthly payment. Extensions and the prices are at the discretion of the funder.

Can I end the contract early?

The short answer is yes you can however you might be liable for early termination charges which can be as much as 50% of the outstanding rentals. Some funders will look at “loss on disposal” which is where they look to offset any additional value in the vehicle and deduct this from the early termination/settlement fee.

Further questions about leasing

Can I lease more than one car?

Finance is subject to status. You can have as many cars as you like so long as your credit status is strong enough and it is affordable. Please note that none of our funders provide cars for the use of rental companies or as courtesy cars for car dealers.

Why is leasing so cheap compared to other methods of new car finance?

The biggest and most important benefit is that you only pay for what you use. 95% of what you pay is the difference between the cost of the vehicle when purchased and value when returned. The other 5% is admin and profit.

Is there a warranty?

All new vehicles come with a full manufacturer’s warranty which usually includes breakdown cover for the first 12 months.

What if I am doing more or less mileage than contracted?

Most importantly – if you think that you will do less than signed up for get on to the funder straight away and ask them adjust to the lower mileage. 
The lower mileage will increase the vehicle residual value which reduces the depreciation and you will end up paying less each month. You can do this with the majority of funders so long as there are more than 6 months left to run. Note: Mercedes finance is the only funder we use that does not allow a mileage change. 
If you are doing more mileage than you signed up for you can do one of two things: 
1. You can amend your agreement by increasing the agreed mileage allowance and your rentals will increase to cover the additional depreciation. 
2. You can continue to the end and then pay an excess mileage charge. 

It is a good idea to look at both options and work out which will be most economical and easier to manage.

Where do the cars come from?

All our cars are supplied by preferred official franchised dealerships or direct from the manufacturer. We only work with suppliers that offer the very best customer service.

Who pays the road tax?

Regardless of whether you have a standard or full maintenance agreement the road tax is paid for and included for the full period. The only time you might have to make a small payment is if the government increases road tax charges as this will not be budgeted for.

Is insurance included?

We do not sell insurance and so we do not earn a commission for promoting an insurance company like some other companies do. It is always cheaper if you arrange your own motor insurance and steer clear of insurance included packages as it is likely you will not be getting the best deal.