What Is Vehicle Leasing?

A car or van lease is a long-term agreement that allows you to use the vehicle for a set period of time at a fixed agreed monthly price. Leasing is often a cheaper funding solution than buying a new car or van with a bank loan or dealer finance. You can lease a vehicle as a Personal Individual or as a Business.

Who Can Lease a Car?

If you have a full driving licence and are over 18 you may be able to lease a vehicle as an individual. Most businesses can also lease vehicles for their fleet. To find out more about leasing visit our Personal Leasing Guide or Business Leasing Guide.


What is the Difference Between Leasing and Buying a New Car?

When you purchase a car outright you pay a flat rate price and it is then yours to keep. Over time the value of the vehicle will depreciate so if you decide to update your car in a few years you will lose money from the price you originally paid.

With leasing you pay a monthly cost for a set period of time and at the end of the lease you can then choose to then lease a new vehicle without having to worry about your current vehicle’s value.

Another thing to be mindful of is that if you own the car you can make any legal modifictions that you want to, but with leasing you will need to hand the car back in the same condition you received it. If you want to make any changes, for example adding a badge or livery to the vehicle, you would need to check with your funder that you can do this.

Is Leasing the Same as Renting a Car?

A lease agreement has a set length and monthly cost that you agree to when signing your finance contracts. With a lease you can choose the vehicle you would like to lease and add any factory options you would like for an additional cost. This is different to renting a vehicle, as when you rent a car you have little choice on what you are driving. With renting a car you will also not be contracted to a fixed term but will pay a premium price because of this.

What is Your Leasing Process?

Here at Xcite Car Leasing we aim to make leasing and simple as possible and our team will be there at every step to help you find the perfect car, complete the finance documents, arrange delivery and answer any questions you have along the way.

A 4 step guide to car leasing diagram

To find out more about our leasing process you can take a look at our Guides Homepage or just request a pdf copy of our leasing guide in the green section at the bottom of this page.

What Happens When I've Found a Car I Like?

If you find a deal you like then you can call us on 03302210000, or email us on hello@xcitecarleasing.co.uk or schedule a call back with the phone icon in the bottom left of your screen.

What Documents Will You Need from Me and What Will I Need to Sign?

If you choose to take out a lease through Xcite Car Leasing you will need to complete a proposal form. This is used to apply for finance with the finance companies.

When you have your finance approved you will then need to sign an order pack (sometimes called an Authority to Order or ATO form) to confirm that you would like to place the order with us.

Once this is signed your order with Xcite Car Leasing is placed but you will still need to sign finance documents with the funder. A lot of our funders use an e-sign process now but there are still a few who require documents to be manually signed. When the time comes to complete your finance documents, we will let you know what kind of documents your funder uses and what you need to do.

In order to get finance approved the funder may also require some additional documents from you. They usually request a copy of a photo ID, like your driving licence, and something that confirms your address, usually either a bank statement or utility bill dated within the last 90 days. The exact proofs and amount needed vary depending on your funder, and if any are required, we will let you know exactly what is needed.

There may also be another document to sign if you take out a maintenance package but some funders will simply include this as and additional section of your finance contracts. 

Who is Xcite Car Leasing?

Xcite Car Leasing is a leasing broker that is dedicated to getting you a great price on your ideal car. We've been in the industry for 20 years and our team is dedicated to making leasing as straightforward and easy as possible for you. 

You can learn more about the business on our about us page or meet the team to see the faces on the other end of the line.

Why Am I Getting Emails from Other Companies?

A lot of our funders now use an e-sign process so you may receive an email directly from them, this could be with your finance documents attached or with a link to complete them. We will email you once the documents are issued to let you know what to expect from the funder so you know that this email is for you. 

If you are ever worried about an email you receive and want to check it is genuine then please call us and our team will be happy to help

Who is My Lease Agreement With?

Xcite Car Leasing is a broker, so your lease agreement will not be with us but with the lease funder. We work with a number of funders to be able to provide you with the very best deals.

Our funders include; Alphabet, ALD, Arval, Leasys, LeasePlan, Lex, Mobilize Financial Services (RCI), Novuna, Santander and VGL. We also work with manufacturer finance such as Volvo Finance.

Why Use You When I Could Go Straight to the Dealership?

Xcite Car Leasing is not tied to one funder, like a dealership is, so we can compare the best deals across finance houses to get the best prices for you. We work with the biggest funders in the UK and as an authorised partner we are also able to take advantage of their discounts, which means we can offer even better terms for you.

What is a Rental Profile?

Lease agreements are usually calculated over a set term between two and four years. The offers are usually advertised with a rental profile which shows the initial payment and then the following monthly rentals.

For example, a 3 + 23 is a two-year lease with an initial payment that is equivalent to three of the subsequent monthly rental payments.

A diagram of a BMW with annotations explaining the total cost of leasing

Can I Reduce the Monthly Lease Payments?

If you decide to make a larger upfront payment then this will reduce the following monthly rental payments.

For example, if you are on a three-year lease and decide to go for a 9 + 35 the following 35 monthly payments will be less than if you were to go for a 3 + 35. The amount you pay overall will remain the same.  

Is the Price Online Your Best Offer?

We update our website regularly to make sure the prices that we offer online are the very best deals we can offer at that particular moment in time.

If you do happen to find a cheaper lease elsewhere then please let us know and we will try to match this. 

Do You Price Match?

If you have found a better deal with another company then just let us know and we will try our hardest to match this price for you.

Why are Some Prices Shown as + VAT?

Our website shows two prices, one with VAT included and one with it excluded. This is because businesses can claim the VAT back on lease vehicles.

You will be able to choose business or personal on any of the pages which show lease prices so you only see the right price for you. 

How Does Leasing Affect My Company Car Tax?

Company car tax (sometimes known as a benefit in kind tax or BIK tax) is largely based on the P11d and the vehicle’s CO2 emissions.

To get an accurate quote on the cost of a particular model and the company car tax please contact our team on 03302210000.

What Else Do I Need to Pay For?

When you place your order with Xcite Car Leasing there will be an admin fee for our services. We will let you know how much this will be before you place the order.

If you decide you want to add a private number plate to your vehicle then your funder may charge a small fee for this process. To find out more about this visit our Private Number Plate Guide. 

Otherwise the only other costs you will have to worry about are insuring your vehicle and fuel.

Are There Any Hidden Catches?

There are no hidden charges when you lease with Xcite Car Leasing. 

We will explain all our terms and conditions to you in the order pack (ATO) that we ask you to sign when placing the order. If you have any questions before signing this then you can call us to discuss them.

The finance contracts you will sign with the funder will also explain all the necessary information for you. If you have any further questions about these then you can always ask us, if we are not able to answer your query we will ask the funder for you. 

What Happens if I Change My Mind?

If you change your mind on the vehicle you have chosen then just get in touch and we can look into other options for you. If you have had a change in circumstances or decide you no longer want to take out a lease then this isn’t an issue you just need to be aware that there could be a cancellation fee depending on how soon you let us know.

When you place the order with Xcite Car Leasing you will sign an order pack (ATO) and this allows you to cancel the agreement within 14 days without charge. If you decide to cancel the order after this time then there may be a cancellation fee.

Are the Cars Made to Order?

We offer a range of in stock vehicles but also have factory order cars. The factory order vehicles can have additional extras fitted if you decide you would like to add them and these would be the ones that are considered made to order, as you'll be able to design a factory order to your exact needs. 

A silver Volvo with additional vehicle options labelled

Can I Choose the Options on the Car?

Options can be added to the vehicle if you are looking at a factory order. However, you should be mindful that changing options may impact the price of the lease. Our team will be happy to discuss the vehicle and any additional features when you place the order.

Can I View the Car?

Unfortunately, because our lease vehicles are supplied by dealers around the country, some of whom do not have customer accessible sites, it is not possible to view the vehicle before it is delivered to you.

Where are the Cars Kept?

The cars are either factory ordered or in stock at a dealership. If a vehicle is in stock it will be kept at one of the dealerships’ compounds or at a UK port ready to be delivered to you.

How Long Do I Have to Wait for My Car to Arrive?

When you are deciding which vehicle is right for you, we will let you know what stock our dealers have and the lead times on these. If we are unable to supply a stock vehicle or you decide to add options then we will factory order the car for you. The lead time on factory orders can vary depending on the manufacturer, but we will let you know what it will be for your vehicle when you place the order.

As your order progresses our Support Team will let you know any updates that we get from the dealer for your car and will arrange delivery with you as soon as we are able to.

Please note that we usually will not arrange delivery until the vehicle is in stock, in case there are any unforeseen delays in movement.

Can I Part-Exchange My Car?

Unfortunately not, no. We cannot take your current vehicle as a part exchange on your lease payments. We do have a partnership with carwow if you are looking to sell your current vehicle.

Will You Take My Current Car?

If you currently lease a vehicle through Wessex Fleet then we can look at collection for you. For a full breakdown on what to do at the end of your lease then you can take a look at this guide.

If you currently lease a vehicle through another broker then you will need to contact them to arrange collection. And if you own your current vehicle then it will be up to you to arrange for this to be sold.

For drivers who own their current vehicle we can also help! We've teamed up with Carwow to be able to provide you with a quick and hassle-free way to sell your car.

Will I Own the Car?

No, you will not own the car. Your lease funder will be the registered owner.

Who Will Be the Registered Owner and Keeper?

Your lease company will usually be both the registered owner and keeper.

As they are the registered owner the lease company will receive the V5 but you can request a copy if needed.

What About Insurance?

It will be your responsibility to insure the vehicle, and your insurance will need to be fully comprehensive. 

Please note that the lease company will be the registered owner and keeper of the car and you'll need to let your insurer know this.

You will probably have to go directly to your preferred insurance provider to request a quote as the cars aren't registered until the day of, or the day before, delivery so will not show on comparison websites. 

Do I Need to Pay Road Tax?

No, you will not need to pay road tax on your lease vehicle.  This will be covered for the duration of the lease by your funder at the initial tax cost. This means that if there is an increase in the amount your vehicle is taxed by during the lease then you may be charged the difference, but this is usually a minimal amount. 

What if the VED Changes During My Lease?

The Vehicle Excess Duty (VED), sometimes known as road tax, will be covered by your funder for the duration of the lease at the cost this is at the start of the lease. If during your lease there is an increase in the amount your vehicle is taxed at then the cost of the increase may be charged onto you. This will be explained in full in the terms and conditions of the finance documents you sign.

Do I Need to MOT the Vehicle?

All of our vehicles are new cars, so if you decide to go for a lease that is less than three years you don’t need to worry about the MOT. If you choose a lease that is three years or longer then you will need to arrange MOTs when they are due.

If you opt for a maintenance package the MOT will be included in this.

Will the Car Still Have a Warranty?

All of the cars we lease are brand new and will have the manufacturer warranty from the date of registration. Depending on your lease length the warranty may cover your car for the duration of the lease.

Is Maintenance Included?

Maintenance is not automatically included with our leases. You can choose to add a maintenance package for a monthly cost to your lease. For more information on this check out our Maintained Lease Guide.

What Happens if I Have an Accident?

If you have an accident in your lease vehicle then it would be the same as in any other car. You would need to get in touch with your insurance company immediately and arrange for the vehicle to be repaired.

We would also suggest letting your funder know that there has been an accident but that your insurance company will arrange the necessary repairs. Your insurance company will usually contact the funder as well, but if you want to understand their process or discuss your situation with them it might be best to call directly.

What Happens if the Car is Written Off?

If you have a serious accident and the car is written off then you would need to contact your insurance provider. Again, we would suggest you give your funder a call and let them know what has happened. Your insurance company will usually contact the funder, but if you have any questions about their process it would be best to call directly.

If there is a shortfall between what your insurance company and lease funder value the vehicle and the remainder of the lease at then this is where GAP insurance would come into play.

What Happens if the Car is Stolen?

If the car is stolen then you will need to notify the police immediately. They should give you a reference number which you can then provide your insurance company and funder with. Should the car be unrecoverable then your insurance company and lease funder would each value the vehicle and the remainder of the lease. If there is any shortfall between these two values then this is where GAP insurance would be used.

What Happens if I Can No Longer Afford the Monthly Payments?

If you can no longer afford the monthly payments due to a change in circumstances then you will need to get in touch with your funder. They will be able to look into your individual situation and advise you on the best way forward.

What if I Need to Hand the Car Back Early?

If you need to return the car before the end of your contract you will need to request an early termination quote. We can request this with your funder on your behalf you will just need to get in touch with our Support Team with the current mileage and the date you want to return the vehicle.

Please be aware that early termination quotes usually only last for 30 days from when they are issued. If the quote expires, we can request a new one for you but the cost may change.

What if I Want to Keep the Car for Longer?

If you near the end of your lease and decide that you would like to keep the vehicle for longer than the original contract period then we can request an extension quote for you.

Most of our funders offer 6 or 12 month formal extensions but do require a few months’ notice, so you will need to let us know as soon as you decide that you would like to extend the lease.

Please get in touch with us if you are looking to extend your current lease.

Can I Buy the Car at the End of the Lease?

Some funders will offer the option of purchasing the vehicle at the end of the lease but this is not guaranteed.If you are near the end of you lease and want to discuss this please call our Support Team on 0330 221 0000.

Peace of Mind

Check out one of our helpful guides or our explaination of leasing to get all your questions answered.

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