Your Guide To Personal Car & Van LeaSE

If you are applying for finance you can either apply as a limited company, partnership or limited liability partnership, you may be eligible for a business car lease. Using business contract hire offers a number of specific tax benefits and access to a range of business related services such as policy management, outsourcing and driver training. All pricing for business leases exclude VAT. 

Alternatively, personal car leasing is where you as an individual take a personal lease for a specific vehicle for a set period of time and mileage.

As a personal car lease it will be your name on the Personal Hire Agreement and it will be your credit application that will be checked by the finance company, based on the address information you supply on the application. 

You set a distance and duration at the start of the lease but you may want to change this as the agreement progresses. Each specific finance company may have different rules on this, but we can advise you as part of the credit application process. 

Leasing a car is a two-step process. This requires you to secure finance for your vehicle and provide evidence that you are the individual in question before a car is released into your care.

For personal leasing, you will be required to provide:

• Personal information
• Address for the past five years
• Recent employment history
• Bank details
• Evidence of your monthly expenditure 

Once this has been approved, you are required to provide:

• Copy of photocard driving license
• Proof of address - a utility bill or council tax, dated within the last 90 days
• Proof of insurance cover

Yes, a personal contract hire (PCH) or leasing deal similar to a long term car rental and at the end of the lease contract you have two options:

• Return the car to the dealership
• Extend the contract to a total of 5 years

Yes. Road tax is included alongside free nationwide delivery. When you lease a car from LetsTalk Leasing, we will tax the vehicle for you including the cost of the vehicle excise duty (Road tax) in your monthly payments.

Once your lease period ends, the car will need to be returned for inspection – even if you have chosen to lease it again. This requires you to meet the return conditions in full. If the vehicle has sustained damage, that will be addressed as per your leasing agreement. You can also arrange for a replacement car to be provided if you wish to continue your agreement or negotiate a new one with a member of our sales team.

As long as you have a full UK driving licence, and can afford the monthly rental fees and have a good to excellent credit score, you can apply to lease a vehicle from the age of 18. There are certain restrictions to leasing a vehicle such as mileage limits and you are expected to return the car in good condition. If you want to take your car abroad, you need to make the finance company aware, and from time to time, there could be an additional fee. Please contact one of our Leasing Consultants for further information regarding this.