Why Smartway Leasing ?
- Payments are a fixed amount each month
- Low deposit – normally 3 monthly payments!
- You can be driving a brand new car every 2 or 3 years
- Save £££,s with our competitive car leasing offers
- UK Supplied Cars no imports
- Manufacturer Breakdown Recovery included
- Full Manufacturer’s Warranty with all our cars
- Maintenance Packages can be included
- Road Tax included
- Manufacturer Breakdown Recovery included
- Exceptional customer care service
How Does It Work
Personal car leasing is now the most popular funding method to obtain a new vehicle, but there are still many who could benefit from leasing but are still taking out car loans or hire purchase agreements to purchase their vehicles.
The main reason for them not to lease is usually not being informed of the benefits of personal car leasing and the terminology not being explained properly. Here at Smartway Leasing we will explain personal car leasing and why it should be your next choice for you to finance your new car.
Why Lease?
It is a fact that as soon as you drive a new car off the forecourt it starts to lose value.
So, if you take out a car loan or hire purchase agreement to buy a car, you will be paying a monthly amount for something that is depreciating in value, not appreciating in value.
The two main options for Personal Car Leasing are:
• Personal Contract Hire (PCH)
• Personal Contract Purchase (PCP).
Personal Contract Hire (PCH) is the most popular method for individuals to lease a new car. It covers use of the car for a set period of time and mileage, in exchange for a set monthly fee. Usually, the car will be returned to the lease company at the end of the agreement.
This has the benefit of you not having to find a buyer, but you have to pay charges for any damage and additional mileage. PCH usually includes road tax and also has VAT benefits.
Personal Contract Purchase (PCP) is a way of funding a vehicle through fixed monthly payments over a set period of time and mileage. The main difference to Personal Contract Hire (PCH) is at the end of the lease term you have the option of either of the following
- Hand the car back to the finance company
- Part exchange or sell the car any equity above the final payment will be yours
- Buy the car at the price given at the start of the contract (GFV)
Should you choose to buy the car, the final payment is called the Balloon Payment (GFV), which is agreed before the lease is signed and is based on the minimum cost of the car at the end of the agreed contract.
Peace of Mind Motoring
Both Personal Contract Hire (PCH) and Personal Contract Purchase (PCP) can have a maintenance package included in the agreement that covers the cost of all routine servicing costs, including tyres, exhaust, brakes, battery Etc. for a set monthly fee.
Something to think about before you obtain your next vehicle:
If it appreciates BUY IT
IF It Depreciates LEASE IT WITH SMARTWAY LEASING
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