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How leasing works

A lease is essentially a long-term rental agreement, offering exclusive use of a car for a set period at a fixed monthly price.

As a business, this can be the most cost efficient method of funding the vehicles as it takes advantage of the tax and vat regulations to reduce whole life running costs. Additionally CLVR accesses the buying power of the UK's biggest lease companies to reduce the cost even further.

The greatest cost of running any new car is depreciation, and many new cars will lose more than half their initial value after the first three years of ownership.

Leasing explained

Leasing a car lets you avoid any unexpected costs by offering a fixed monthly payment for the term of the lease.

Unlike dealer finance or bank loans you only pay for the depreciation of the vehicle over the term rather than the full capital value.

Rather than pay large deposits you simply pay a small initial amount, usually equivalent to three or six monthly payments, at the start of the lease.

Then, at the end of the lease period (typically two or three years), you simply hand the car back. The job of selling the car and picking up the tab for depreciation is the responsibility of the lease company.