No, while a car leasing rolls several monthly payments into a single package, insurance usually isn’t one of them. You can read more about selling your car in our guide: Selling your car with THE leasing comparison website We’ve teamed up with motorway to make that process as simple as possible for you. This is sometimes possible if you are leasing a car through a main dealer, but it’s often best to sell your existing car first. Can I trade in my current car for a lease car?.You can read more about the credit score required to lease in our guide: What credit score do you need to lease a car? Some leasing companies offer options for people with lesser credit scores, but options are often more limited and you may be required to pay a higher monthly payment. Yes, you’ll usually require a 'good' credit score if you want to lease a car. Do I need a good credit score for a car lease?.If you don’t mind paying more to own a vehicle long-term, then another form of finance might be a better bet than a car lease deal. Unlike other forms of finance, you’ll rarely get the chance to buy the car outright at the end of your contract. If you plan on keeping the car forever, leasing probably isn’t for you. You can read more about how leasing compares to other finance types in our guide: Leasing vs PCP vs HP guide In these cases, they have essentially leased the car – but often while incurring higher monthly payments and deposits. Research has shown the vast majority of PCP customers choose not to pay the balloon payment. This is usually equal to the minimum guaranteed future value of the vehicle. A PCP on the other hand, gives you the option to pay a large amount of money to keep your vehicle. The main difference between a lease and PCP is that you won’t have to pay a balloon paymentĪt the end of your contract. How does car leasing differ from a PCP?Īlong with car leasing, personal contract purchase (PCP) agreements are a popular form of financing a new car.Once the duration of your car lease contract is up, you simply hand the car back to the finance company and areįree to choose another lease deal or other form of finance. You’ll find both the initial payment and upfront payment is usually less than other forms of finance require. You pay a set amount upfront (usually one, three or six-months’ worth of monthly payments) and then make regular monthly payments over a set period (usually two, three or four years). You can read more about car leasing in our guide: What is car leasing? A guide to Personal Contract Hire The big different between leasing and other forms of finance is that by leasing you essentially rent the car and do not own it. You apply to lease a car for a certain period of time and make monthly payments over the duration. You can think of it as a long-term car rental. Its premium Mustang Mach-E EV is a rival for many models including the Hyundai Ioniq 5 and Polestar 2.Ī car lease is one of the most popular forms of finance if you’re in the market for a new car. The Focus is a great alternative to the Golf. Traditionally, Ford has competed with other mainstream manufacturers including Vauxhall and Volkswagen. Many of its models undercut like-for-like rivals from other brands, and thanks to leasing offering cheaper monthly payments than other popular forms of new car finance, it makes a Ford all the more enticing. Whichever you opt for, you’ll get a good specification with all models featuring the latest SYNC infotainment system, punchy mild-hybrid drivetrains and that fun-to-drive feel Ford has always been known for.įord has always been known for offering lease customers great value, and its current line-up is no exception to this. Popular Ford trim levels include the ST-Line, ST-Line Vignale, Titanium and range-topping ST. For that iconic muscle car styling, the Mustang Coupe remains available in facelifted form. The Focus is still a great choice if you’re after a hatchback, while the stunning Mustang Mach-E EV is a genuine alternative to a Tesla. Popular choices include the sporty-looking Puma and practical Kuga. Like most manufacturers, smaller hatchbacks have made way for larger crossovers and SUVs, and Ford is no exception. What are the most popular Ford models to lease? A Ford lease deal makes it an even more affordable option, by rolling several of your monthly costs into a single payment and offering monthly payments that undercut the likes of PCP deals. Ford is one of the world’s most well-known manufacturers, and for good reason: it has consistently offered well-made, affordable transport for decades.
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