Personal Leases


author image - grace

By Grace Hickman

on Wednesday 28 March 2018


handing over keys

For the private individual, personal car leases are common as they often offer lower initial payments based on the vehicle's no-depreciation risk. This makes personal leases for cars very cost-effective compared to other methods of financing a brand new car or van.

A personal lease has many other benefits, giving you peace of mind and an added level of security. Some include:

  • Full warranty on the car you choose.

  • Able to drive a brand new car every few years.

  • Makes driving a new car more affordable.

  • You don't need to worry about getting an MOT.

  • Road tax included in the cost.

  • You can return the car or buy it at the end - depending on your finance agreement.

  • Monthly payments are fixed, making it easier to budget.

One of the key benefits of personally leasing a car is being able to hand the car back at the end of the lease agreement and start a new contract with a new model. This saves you the hassle of privately selling your car, whilst allowing you to have the newest specifications and engine upgrades.

The most common form of personal leasing is personal contract hire (PCH). This allows you to drive a brand new car regularly, and like other forms of leasing requires a fixed monthly payment.

Another type of finance agreement is Personal Contract Purchase (PCP), which offers you the option of a balloon payment to buy the vehicle outright at the end of the lease agreement.

Those who own a business, small or big, will want to look at Business Leasing, rather than personal.

For a more detailed look at the different ways to finance a personal lease, take a look at some of our other guides:

PCP, HP and PCH: Car Finance Options Explained

What is Hire Purchase?

PCH Explained

A Guide to Personal Contract Purchase (PCP)

Alternatively, if you would like to speak to a member of our team for more help and information, call us today - one of our experienced representatives will be available and more than happy to help!

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