Car Leasing Process Explained | Silverstone Leasing Guide
Silverstone Leasing

Car Leasing Process Explained: A Comprehensive Guide by Silverstone Leasing

Explore the simple and transparent car leasing process with Silverstone Leasing, your trusted partner for finding the perfect lease in the UK. Whether you're a first-time leaser or looking to switch from buying to leasing, this guide ensures you understand every step of your journey towards driving your dream car.

Leasing Process

What is Car Leasing?

Car leasing is a fantastic way to drive the newest models without the hefty price tag of purchasing. When you lease a car, you pay to use it for a set period while keeping monthly costs low. At Silverstone Leasing, we provide a wide range of options from compact city cars to luxury saloons. Check out our All Car Leasing Guide to find the perfect car for your lifestyle and budget.

Why Choose Leasing Over Buying?

Leasing often comes with lower monthly payments than buying a car with a loan, as you're not paying off the entire value. Our customers enjoy the benefit of driving a new car every few years and avoiding the depreciation costs associated with car ownership. To compare leasing versus buying, visit our detailed guide on the Advantages and Disadvantages of Leasing a Car.

Step-by-Step Car Leasing Process

Understanding the car leasing process can help you make an informed decision and ensure a smooth experience. Here’s what you can expect when you decide to lease a car with us:

Initial Consideration

  1. Determine Your Needs: What kind of car do you need? What will you use it for, and how many miles will you drive annually?
  2. Set Your Budget: How much can you afford to spend each month on a car lease?

Choosing Your Car

Once you know what you need and can afford, it’s time to choose your car. Browse through our extensive collection of leasing options at our Car Lease Deals page. From economical city cars to family-friendly SUVs, you're sure to find a vehicle that suits your needs.

Applying for a Lease

The application process for a car lease is straightforward. You'll need to provide some personal information, details about your driving habits, and any preferences for your lease terms.

Documentation and Credit Check

Before finalising your lease, we will conduct a credit check to ensure you meet our leasing criteria. This is a standard part of the process, and you can learn more about what's involved on our FAQ page.

Finalising the Lease Agreement

Once approved, you'll sign a lease agreement that outlines the terms of your lease, including mileage limits, wear and tear stipulations, and your monthly payment. For more information on what these contracts typically include, visit our Understanding Car Leasing Contracts Guide.

Delivery of Your Leased Car

Getting Your Car

After the paperwork is complete, your next step is simply to wait for delivery of your new leased car. We offer Free Nationwide Delivery to make this step as convenient as possible.

Inspection and Acceptance

Upon delivery, inspect the car to ensure everything is in order as agreed upon in the lease. If all is well, the car is yours to drive under the lease terms!

Maintenance and Support During Your Lease

Regular Maintenance

Regular maintenance is crucial to keeping your car in good condition and avoiding end-of-lease charges. Learn about our maintenance packages and tips for keeping your leased vehicle in top shape on our How to Maintain a Leased Vehicle Properly page.

Customer Support

Our customer service doesn’t stop once you drive off; it lasts throughout your entire lease. If you have any questions or need assistance during your lease, our Customer Handovers page has all the information to help you.

End of Lease Options

Returning the Car

At the end of your lease, you can simply return the car to us. We’ll inspect the car to ensure it matches the agreed-upon return conditions.

Lease Renewal or Upgrade

If you love the leasing lifestyle, you can easily renew your lease or choose a new car and start a new lease. Our team is always ready to assist you with Personal Contract Hire options to continue your journey with us.

Learn More and Get Started

Ready to start your car leasing journey? Visit Silverstone Leasing to browse our latest offers, or contact us directly to discuss your leasing options. Our team is dedicated to providing you with a seamless and enjoyable car leasing experience.

How does the leasing of a car work?

    Car leasing is akin to renting a vehicle for a longer period, typically between two to four years. You pay a fixed monthly fee to use the car, which covers the cost of depreciation that occurs over the lease term, plus interest and fees. Here’s the typical process:

    1. Choose Your Vehicle: Select a car that fits your needs and budget. Dealerships like Silverstone Leasing offer a wide range of models from economical compact cars to luxury SUVs.
    2. Agree on Terms: You’ll need to agree on the length of the lease, the annual mileage limit, and the amount of the monthly payment. These factors will influence the overall cost of your lease.
    3. Initial Payment: Most leases require an initial payment, which is not the same as a deposit; it’s more like the first big payment, often equivalent to several months' payments upfront.
    4. Monthly Payments: After the initial payment, you will pay a fixed monthly fee for the duration of the lease.
    5. Maintenance and Insurance: You are responsible for maintaining the vehicle and must have comprehensive insurance cover.
    6. End of Lease: At the end of the lease, you return the vehicle. You can then choose to walk away, start a new lease, or sometimes purchase the vehicle outright.

How Long Does a Lease Car Take to Arrive?

    The delivery time for a lease car can vary significantly depending on several factors:

    • Availability: If the chosen vehicle is in stock, it can usually be delivered within a few weeks. However, if the car is not in stock and needs to be ordered from the manufacturer, it could take several months.
    • Manufacturing and Shipping Delays: External factors such as manufacturing delays or shipping issues can extend the wait time.
    • Preparation: Before delivery, the car goes through pre-delivery inspection and preparation, which can also add to the overall timeline.

    On average, you can expect your lease car to arrive anywhere from a few weeks to a few months after finalizing the lease agreement.

What Are Three Disadvantages of Leasing a Car?

    While leasing can be beneficial, there are some disadvantages to consider:

    1. Mileage Restrictions: Leased vehicles come with a mileage cap. Exceeding this limit can result in hefty penalties, which can be costly if you drive more than anticipated.
    2. Wear and Tear Charges: At the end of your lease, the car must be returned in good condition. Excessive wear and tear beyond what is considered normal can lead to additional charges.
    3. Lack of Ownership: Leasing does not lead to ownership; you are paying to use the vehicle for a specific period. At the end of the lease, you have nothing to show for the payments made unless you opt to buy the car.

Do You Get the Deposit Back When Leasing a Car?

    In car leasing, the term "deposit" can be misleading. The initial payment you make when starting a lease is not a deposit but a part of the lease agreement, often referred to as a "down payment" or "initial rental". Unlike a deposit, this amount is not refundable. It is used to reduce the total lease cost, thereby lowering your monthly payments. It’s important to understand that this payment is part of the lease structure and contributes directly to the leasing costs, not held as a security deposit.

    In summary, car leasing offers an accessible way to drive a new car with lower upfront costs compared to buying. However, it’s crucial to consider the long-term implications, such as mileage restrictions and non-refundable initial payments, before entering into a lease agreement.

Car Leasing Special Offers

In stock Top deal Metallic Paint Included

SUZUKI SWIFT HATCHBACK

1.2 Dualjet 83 12V Hybrid SZ-T 5dr Auto

£209.63 Per Month (inc VAT)

£1,886.67Initial Rental

  • 48 months
  • 5,000.00 miles pa

£174.69 Per Month (excl VAT)

£1,572.21 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
In stock Top deal

AUDI A3 SPORTBACK

40 TFSI e S Line 5dr S Tronic

£344.45 Per Month (inc VAT)

£3,100.05Initial Rental

  • 48 months
  • 5,000.00 miles pa

£287.04 Per Month (excl VAT)

£2,583.36 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
In stock Top deal

MAZDA CX-60 ESTATE

2.5 PHEV Exclusive Line 5dr Auto [Comfort Pack]

£496.91 Per Month (inc VAT)

£4,472.19Initial Rental

  • 48 months
  • 5,000.00 miles pa

£450.65 Per Month (excl VAT)

£4,055.85 + VATInitial Rental

  • 60 months
  • 5,000.00 miles pa
  • 60 month term
  • 5000 miles per annum
In stock Top deal

TESLA MODEL Y HATCHBACK

Long Range AWD 5dr Auto

£543.68 Per Month (inc VAT)

£4,893.12Initial Rental

  • 48 months
  • 5,000.00 miles pa

£453.06 Per Month (excl VAT)

£4,077.54 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
In stock Top deal

TESLA MODEL Y HATCHBACK

Performance AWD 5dr Auto

£649.75 Per Month (inc VAT)

£5,847.75Initial Rental

  • 48 months
  • 5,000.00 miles pa

£541.46 Per Month (excl VAT)

£4,873.14 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
Top deal

PORSCHE MACAN ELECTRIC ESTATE

300kW 4 100kWh 5dr Auto

£899.46 Per Month (inc VAT)

£8,095.14Initial Rental

  • 60 months
  • 5,000.00 miles pa

£749.55 Per Month (excl VAT)

£6,745.95 + VATInitial Rental

  • 60 months
  • 5,000.00 miles pa
  • 60 month term
  • 5000 miles per annum
Top deal

SKODA ENYAQ ESTATE

210kW 85x Sportline Plus 82kWh 4x4 5dr Auto

£560.59 Per Month (inc VAT)

£5,045.31Initial Rental

  • 60 months
  • 5,000.00 miles pa

£467.16 Per Month (excl VAT)

£4,204.44 + VATInitial Rental

  • 60 months
  • 5,000.00 miles pa
  • 60 month term
  • 5000 miles per annum
Top deal

KIA SPORTAGE ESTATE

1.6T GDi ISG GT-Line 5dr

£333.05 Per Month (inc VAT)

£2,997.45Initial Rental

  • 48 months
  • 5,000.00 miles pa

£277.54 Per Month (excl VAT)

£2,497.86 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
In stock Top deal

MG MOTOR UK ZS HATCHBACK

1.0T GDi Exclusive 5dr DCT

£297.03 Per Month (inc VAT)

£2,673.26Initial Rental

  • 48 months
  • 5,000.00 miles pa

£247.52 Per Month (excl VAT)

£2,227.72 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
Top deal Metallic Paint Included

VOLKSWAGEN TIGUAN ALLSPACE ESTATE

1.5 TSI R-Line 5dr DSG

£444.50 Per Month (inc VAT)

£4,000.50Initial Rental

  • 60 months
  • 5,000.00 miles pa

£370.42 Per Month (excl VAT)

£3,333.78 + VATInitial Rental

  • 60 months
  • 5,000.00 miles pa
  • 60 month term
  • 5000 miles per annum
In stock Top deal

TESLA MODEL 3 SALOON

Performance AWD 4dr Auto

£880.75 Per Month (inc VAT)

£7,926.77Initial Rental

  • 48 months
  • 5,000.00 miles pa

£733.96 Per Month (excl VAT)

£6,605.64 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum
In stock Top deal

VOLKSWAGEN GOLF HATCHBACK

2.0 TSI GTI 5dr DSG

£414.84 Per Month (inc VAT)

£3,733.56Initial Rental

  • 48 months
  • 5,000.00 miles pa

£345.70 Per Month (excl VAT)

£3,111.30 + VATInitial Rental

  • 48 months
  • 5,000.00 miles pa
  • 48 month term
  • 5000 miles per annum