The Top 10 Questions People Ask About Car Leasing
1.How does leasing work?
With car leasing you have full use of a vehicle for a fixed and agreed length of time, but you never own it, you simply pay a monthly fee to lease it. At the end of the lease period you return the vehicle to the lease company and are free to select a new vehicle and start a new lease. Your lease is subject to mileage restrictions and you must return the vehicle in a good condition with only natural wear and tear, otherwise you may be subject to additional charges.
2. What are the advantages and disadvantages of car leasing?
The fixed monthly payments for leasing a car are generally cheaper than if you were buying the car. This allows you to perhaps choose a higher-spec of vehicle than if you were buying it. There are also no hidden costs with leasing a car, you pay a flat, fixed monthly fee which covers usage, service and maintenance. You should also receive a manufacturer’s warranty with the car. In terms of disadvantages, you face charges if you exceed the agreed mileage, if there is damage to the vehicle outside of natural wear and tear and if you wish to terminate the lease agreement early.
3. Do you lease pre-owned as well as new cars and vans?
Yes, at Pink Car Leasing we can lease you used cars as well as brand new cars. In many cases pre-owned cars are even cheaper than leasing a new car, because depreciation is less of a factor and the greater part of the vehicle’s value has already been lost, even if the vehicle is only a year old.
4. Can I test drive my car or van before I lease it?
Pink Car Leasing is an online retailer and our vehicles come straight from the manufacturer. Therefore we don’t have a physical showroom or forecourt to enable a test drive, but please contact us if you live locally (Leicestershire area) to see what we can arrange.
5. Should I lease my car or van through my business or as a private motorist?
This really depends on your personal circumstances and the nature of the business you would be leasing the vehicle through. There are very different tax rules relating to business usage, and these might apply to you, but our sales experts can talk you through this process and work out what might be the best way forward for you.
6. Can I use a personalised number plate on my lease car or van?
Yes this is absolutely fine, as long as you follow the correct administrative procedures and of course, you remove it from the vehicle when you return it to us.
7. How long will I have to wait for my lease car or van?
Waiting times vary, but because we have close links with our manufacturers these are minimal. Sometimes vehicles are available immediately. If you are coming to the end of an existing lease you can of course forward-plan and arrange a new lease car to be available for when you return the old one.
8. How many miles am I allowed to drive in my lease car or van?
This depends on your personal needs and can be arranged with our sales experts prior to signing the lease agreement. The mileage you need does affect the fixed monthly payment, so we will agree with you that the mileage is suitable and sufficient, and is appropriate for the vehicle you have chosen.
9. Can I take out a service and maintenance agreement with my lease?
You can merge a service and maintenance agreement into your fixed monthly payment. This will cover most maintenance needs and is applicable to approved service providers only. You can choose not to have this agreement in your package, but you will then need to make these arrangements yourself and meet this cost separately.
10. Is there a warranty with my lease vehicle?
All new lease vehicles come with a full manufacturer’s warranty. This also applies to most pre-leased vehicles, but of course, some of the warranty period will have already elapsed, but you will still benefit from the remainder.