Media post: What You Need to Lease a Car Online

Car leasing (also called Personal Contract Hire or PCH) will allow you to drive a new car for a set amount of time, for monthly payments that are generally less than car finance payments.

There are many car leasing deals available, on different car models and also for different time periods. Once your lease term has ended, you can decide whether you want to return your lease car or purchase it – it will depend on your lease agreement.

In this guide, we will look at how you can lease a car online.

How does car leasing work?

Finance companies or manufacturers may offer car lease deals. Although you can go into a dealership to negotiate a lease deal, a lot of leasing companies now lease online, making it easy to compare car leasing deals.

Your lease deal will depend on the make and model of the vehicle, how long you plan on leasing, and how many miles you intend on driving.

All lease vehicles remain the property of the finance company, however, the firm might offer to sell you the car at the end of the lease period based on the depreciation of the vehicle over time, as new cars will lose value while you drive it.

How to Lease a Car Online

Here are the steps you should take to lease a car online, and what you would need to lease your desired car.

1) Research available cars

Car reviews can tell you a lot about a car. You should do your research before leasing a car to make sure the car is dependable, safe and will deliver the performance you want. Websites with car reviews from professionals and everyday drivers can tell you a lot about the car you want to lease.

2) Find Car Dealers to Find out the Price of the Car

It will be beneficial to go to a dealership and find out more about the cost of the car that you are interested to lease. Find out what the fixed monthly payments on the car would be should you buy it – this will help you to find a good deal on leasing a car.

You can also look at online car deals to find out the price of your drive lease car.

3) Compare Leasing versus Buying

Do your calculations, and see if it will actually be more affordable to lease the car that you want. Consider the monthly payments, running costs and any additional expenses, and determine whether it will be better from a financial point of view to lease or purchase the vehicle.

4) Choose your preferred Finance Company

Once you have decided to lease your car, it is time to consider which online dealer to go with. It is important that you compare car leases online. For extra peace of mind, make sure the company is a part of the British Vehicle Rental and Leasing Association, and not a lender or credit broker.

5) Apply for the Lease

Now it is time to apply for the lease. Leasing online can be relatively quick and easy, and the site will tell you everything you require, however before you can lease a car you will need to provide:

• Personal details
• Proof of address
• Employment information
• A full UK driving licence
• Proof of ID
• Insurance
• Bank statements
• Completed Application Form

Based on the information you provide, you will be approved for a lease.

6) Complete the Lease Documents

Once approved for a lease, you will receive the leasing contract. If you are happy with the contract and believe you got the best deal, you can sign and return the documents.

7) Get Insurance

If you do not already have insurance, now is the time to get it. Lease companies will not deliver a car unless the driver is insured. Most leasing companies will help you with insurance, or you can do your own research and find an independent insurance provider.

8) Receive your Car

Since you ordered your lease car online, you will have to arrange to have it delivered to your door, unless you reside close to the lease company. Sometimes the cost of delivering the car will be included in the lease fees, or the leasing company can offer you a price to have the vehicle delivered.

Final Thoughts

For many, leasing a car is a great alternative to the costs involved with buying a new car.

When applying for a lease online, there are certain documents that you will have to provide, however, overall the process of leasing a car online is extremely straightforward and quick.