Leasing a car - 5 tips you need to know

20/07/2021

Leasing a car - 5 tips you need to know

If you are thinking about leasing a car and want more advice before doing so, then this article is for you.

Tilsun Leasing is one of the leading contract hire vehicle providers in the country and can help get you into the brand new car of your dreams.

For those who may not be aware, when leasing a car, you do not pay the full purchase price, nor do you need a loan to buy it.

Instead, you pay an initial deposit, and this is followed by monthly payments and it's this that will cover the car's depreciation.

When your car leasing term ends, you return the vehicle to Tilsun Leasing and can then start a new lease contract.

Of the benefits for car leasing, affordability is probably the most important since it boosts a driver's buying power to get a brand-new, higher spec car than they could otherwise afford.

However, when it comes to leasing a car, you should always consider carefully the pros and cons of leasing a vehicle.

Here, we offer five tips to consider when you want to lease a car.

Estimating your lease car's annual mileage

One of the big issues when it comes to leasing a car is the amount you pay every month.

This amount is determined by the car's potential depreciation, and the mileage that you do will play a big part in this.

This is why you should be careful when estimating your annual mileage because if you go over it, there's an excess mileage charge to pay.

It's best to be accurate when making this prediction rather than facing a bill when the car lease ends.

Wear and tear for a leased car

Car leasing companies appreciate that all vehicles will have some wear and tear during the leasing period so will be geared up for the car being in less than pristine condition when handed back.

However, should there be serious damage then this will need to be paid for and it's always worth checking the BVRLA's Fair Wear and Tear guidelines should you damage your car and be worried about the bill.

A leased car's initial payment explained

We explained earlier in this article that you will need an initial payment to secure a car, and this will be the case for all contract hire agreements.

However, with Tilsun Leasing you can choose how much this initial payment will be, so if you choose the equivalent of one month's payment, then your monthly cost will be higher.

If you decide to pay several months of the initial payment upfront, then your monthly payment will decrease.

Should I choose a BVRLA accredited car lease provider?

It's always best to be safe than sorry, so it's a good idea to use a BVRLA accredited car lease provider, such as Tilsun Leasing.

Not only will you be reassured that you are dealing with an honest firm with integrity, but that they also abide by a code of conduct.

You may be tempted when searching online for a car lease deal by some of the very cheap offers being made, but you should always check that the car leasing firm making the offer is BVRLA accredited.

How much does it cost to insure a leased car?

You will find that your car lease provider will insist that you buy comprehensive car insurance cover for the leased vehicle.

This will bring peace of mind that you are completely protected should the car be involved in an accident.

It's a good idea too that when budgeting for a car lease that you take into account the insurance costs as well.

Leasing a car

Those are the five tips when it comes to leasing a car that the Tilsun Leasing team believe you should know about.

For more help and information about car leasing, whether for personal or business deals, then it's a good idea to speak with the friendly team at Tilsun today on 03330 040 888.

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