Leasys Vehicle Leasing Terms Explained

Before choosing your next vehicle, it's useful to understand some of the most common leasing terms so you can compare available options with confidence. 

When you opt for contract hire, you can drive a new model for a certain period of time for one fixed monthly payment, and return it at the end of your agreement. This means you’ll need to be familiar with leasing considerations such as mileage limits, maintenance responsibilities and vehicle return conditions. 

The right lease agreement, whether a personal or business car lease, is based on the model you’d like to drive and your expected mileage. 

With our transparent vehicle leasing terms, you can compare costs and options at the start, and select the right contract length for your unique needs. 

What do vehicle leasing terms cover?

The terms of a lease agreement set out all the key details relating to the vehicle and your contract. It includes set annual mileage, the initial deposit amount, the monthly rental costs, and how you return the car. It may also outline any maintenance packages and support services. 

The finance document will show your mileage limits, contract length, and any potential charges at the end of the contract. The cost of the lease is shaped by these factors, and we’re always happy to help you get the deal you want for the right price. 

Personal contract hire is designed for private customers needing a vehicle for social activities like school runs and trips away, and business contract hire is exclusively for commercial use, such as a mobile tradesperson. 

Different types of customers have different responsibilities when it comes to accounting, VAT, tax, car lease insurance, and how many miles are expected to be covered. 

How does contract hire work with Leasys?

Contract hire is one of the most popular ways to lease a vehicle over a fixed term, and we make it as easy as possible. Once you’ve chosen your vehicle, we will define the duration of the lease and expected annual mileage, and take an initial rental deposit. 

We set up a monthly payment for the agreed period, and you can add extras like maintenance, tyre replacement, and glass replacement for an additional amount. 

With fixed monthly payments agreed at the start of the contract, budgeting can be simpler, which is ideal whether you’re a private user, sole trader, or even a business in need of a new car without the high upfront costs. Options include petrol, diesel, electric, as well as hybrid models. 

At the end of each agreement, the car is returned unless you get in touch beforehand to extend the arrangement, or switch to a different model. 

The leasing route you choose will depend on your circumstances, whether it’s a personal car lease or company lease, and what kind of finance arrangements you have in place. We offer a range of contract lengths to suit different requirements. 

Read more about contract hire here.

What to check before signing a leasing deal

Leasys aims to make every vehicle lease as straightforward as possible, from the initial application form to the return process. We’ll walk through your lease with you, which includes everything in the contract terms. 

This includes mileage allowance, initial payments, the monthly rental, any services included, and any applicable fees for the deal you’ve chosen. Mileage needs to be as accurate as possible, and we can help you work out how many miles you’ll need. If you go over the amount, then you will incur excess mileage charges when you return it. 

Finance companies have their own rules when it comes to arrangements, so feel free to ask as many questions as you like so you're confident that your mileage allowance reflects your expected usage.

Pay attention to the return condition

An important part of the vehicle leasing terms is the return condition. The vehicle should be returned in good condition with its original equipment, as damage can incur additional costs. 

We follow the BVRLA Fair Wear and Tear standards when inspecting vehicle returns, and we have guides to explain the difference between normal deterioration and unacceptable damage. The vehicle leasing agreement you choose should be based on how and where you want to drive, and if you’re a business, consider the tax and VAT options. 

Personal contract hire is a simple way to get on the road in a new car you love, and we will review your finance situation with a credit check before leasing. We have multiple types of contracts, and we will guide you through the vehicle leasing terms at the start of any lease.

Discover more about the benefits, eligibility and process of our Business Leasing option or our Personal Leasing option. 

FAQs

Are vehicle leasing terms the same for every customer?

Each of the leasing terms is bespoke to the individual customer, and documents can vary by the type of car, duration of the lease, and mileage. We can help you explore the financial and tax benefits of leasing, whether you’re a private or business customer, to create a tailored contract. 

Can I change the mileage during the lease?

If you discover during your lease that you are accumulating more miles than expected, the best thing to do is get in contact with us so we can review the contract terms. It’s always a good idea to factor in a realistic mileage at the start, then contact us if your driving habits change. 

What happens if the car is damaged?

When you return the car, it will be thoroughly inspected inside and outside. Normal use and wear and tear are expected, but any damage to the vehicle will need to be repaired to an acceptable standard. We follow the BVRLA fair wear and tear standards, and we’re happy to review any and all repairs with the driver. 

Is maintenance always included in vehicle leasing?

Maintenance of the vehicle depends on the type of quote given for your lease. For your fixed monthly amount as well as additional extras, we can include servicing, MOTs, repairs, and tyre replacement, as well as windscreen and glass cover. 

Is leasing suitable for business users?

Yes. We offer a wide range of cars and vans suitable for business users, from commercial vehicles for tradespeople to company cars for employees who regularly travel for work. You can also take advantage of tax and VAT relief on your hire.