Why You Shouldn’t Be Scared of Leasing
A guide to help calm any worries you have about leasing
Never leased before? Worried about the process? If so then take a look at our answers to some of the common worries of first time leasers and we'll explain why you shouldn’t be scared of leasing.
Leasing is too complicated to understand
Leasing a car can seem daunting if it’s your first time, but don’t worry, it’s a simple process. To make it even easier to understand we’ve created a range of helpful guides to explain the different aspects.
Our helpful Leasing Consultants are here to help you every step of the way and answer any questions you may have. You can contact us here, or by calling us on 03302210000. Want to find out more about why you should choose Xcite Car Leasing for your first lease? Just click here.
Will I get a new car?
Yes. All the cars that we lease are new vehicles. With a new car you'll be covered by the manufacturer’s warranty and for the first 3 years won’t need to worry about arranging MOTs.
Isn’t leasing more expensive?
As you don't own the vehicle with a lease, you won't have to pay a large sum upfront or worry about the vehicle depreciating and the resale value, so if you update your vehicle every few years it makes sense to lease.
A lease is a fixed cost over a set period of time so offers ongoing affordability for you. The cost of a lease does depend on the car you choose, and the contract terms you want, for example the mileage and length of contract and whether you want to add a maintenance package.
With our great deals you’re likely to be able to afford a nicer car on lease than you would if you were buying outright.
Am I even eligible?
If you're over 18 and have a full UK driving licence then you could be eligible for a lease. To find out more, take a look at either our Personal or Business Leasing Guides. If you’re concerned about your credit and how this could impact your leasing options then have a look at this guide.
I won’t own the car at the end of the lease
No, you won't own the car at the end of the lease. You may be able to request a quote to purchase the vehicle, but it's not guaranteed that this will always be an option.
However, as you don't own the vehicle you don't have the hassle of selling it at the end of the lease before getting your next one. You also won't need to worry about the vehicle value depreciating as you're not the owner.
I’ll only have limited miles
It's true that when you take out a lease you agree to a set mileage allowance, but you decide on what you want this to be. When you sign your finance documents you'll agree to the excess mileage charge, and if you've gone over your contracted mileage at the end of the lease then this will be invoice to you based on the agreed charge.
If you get partway through your lease and feel that you're going to cover more or less than your contracted mileage, then we may be able to get a quote from your funder to increase / reduce your annual mileage allowance. You’d just need to get in touch with us to see if this is possible.
If you opt for an unmaintained lease, then yes, any servicing or maintenance work would be your responsibility.
However, when you decide which lease is right for you, you can add a maintenance package. This spreads the cost of any required servicing and maintenance across the duration of the lease and takes away some of the stress with a one stop number to arrange any work your car needs. For more information on maintenance packages click here.
As all our lease vehicles are brand new you will be covered by your manufacturer’s warranty for the first few years. The exact length varies between manufacturers and you can contact us or them directly to confirm the length on your lease vehicle.
A new car also means that for the first 3 years of the lease you won't need to arrange a MOT. Depending on the lease length you opt for you may not need to do this at all.
The car does need to be returned in a good condition. As you have had the vehicle for a number of years by the time it comes to returning it, finance companies allow for what is considered fair wear and tear.
Take a look at the BVRLA’s guidelines to see what's considered fair wear and tear.