What is car leasing?
Leasing a car means renting it for an agreed period of time. You make an initial payment, then pay a monthly rental to use the car before returning it at the end of the lease term.
Usually when you lease a car, you agree upfront how long you want to lease it for and the maximum mileage you'll drive each year. If you drive more miles than this, or return the car before the end of your lease or in a poor condition, you may face extra costs.
The key difference with leasing rather than buying a car is that you'll never actually own it.
Typically lower monthly payments
Leasing a car usually costs less each month than buying a brand-new car using other finance methods.
Drive a new car every few years
Lease terms are usually 2 to 4 years, so you could drive a new car after each lease.
Fewer maintenance costs
As the car is new when you start the lease, it's still covered under the manufacturer's warranty.
Can I get a car lease?
To lease a car, you need to:
- be 21 or over
- be a UK resident
- have a full driver's licence
- be able to afford the monthly rental payments
Step 1
Complete a 60 second application form
Step 2
Get a decision in minutes - approval is subject to affordability
Step 3
Find your perfect car based on your needs
Step 4
The car will be delivered to your door
Leasoo acts as a credit broker exclusively offering vehicle lease products provided by Moneybarn, part of the Vanquis Banking Group family.