Personal Car Leasing Options
All our personal car leasing deals, If you have any questions about the lease deals we provide, then please get in contact with one of our friendly expert consultants who will be happy to explain everything to you.
295 models
Personal Car Leasing Options
As I’ve been in the Motor trade for nearly 18 years now, I’m always surprised by how many people think that personal car leasing options just for business customers only. It’s amazing at how many people believe that a PCP (Personal Contract Purchase) is the option closest to a business lease. Having said that when you visit a showroom, automatically the Salesman will qualify you and your financial budget and match you to a PCP plan as opposed to offering a Personal contract hire rental. It’s only been the last few years that manufacturers have advertised their contract hire rentals to personal customers on leaflets and national television.
Leasing Options for personal customers too
When you take a vehicle on contract hire, the vehicle is bought by the funder. The vehicle is then registered to them – a business, meaning that they can reclaim tax relief from HMRC by using the write down rule. They also purchase the vehicle at a heavily reduced rate, they receive far more discount and favourable terms with buying so many vehicles from the manufacturer. Businesses have been choosing the business car leasing for years, as it frees up their capital. We're seeing a massive increase in personal lease deals. I often come across the argument of “but you never own the car, why would you pay so much for a car that you don’t own?” To say this comment is green is an understatement. If you read the terms and conditions of a finance agreement – many, don’t they just skip past the repayment and APR part and go straight to the signature part excitedly. Well, if you did read the terms and conditions, you’d see that until you pay the final payment on a Hire agreement that you don’t legally own the vehicle despite the logbook being in your name. If you’ve ever watched programmes with bailiffs such as pay now or we’ll take it away, you’ll have heard them say on several occasions that an invoice proves proof of ownership and not the logbook. Anyway, my point being is that have they ever owned any car that they’ve bought via a finance agreement? Most people will take a hire agreement over 5 years or a PCP over 3 with the balloon at the end still to pay. Who has kept their car past the point of finance being owned and if so at that point, it’s now an old car out of warranty that is usually starting to cost more from a maintenance perspective? You’ve usually paid at least £80 plus more per month for the logbook, to be in your name?! Okay, so you may ask whys such a difference, well; there’s several reasons. Firstly, you buy a vehicle as an individual so pay the VAT levy at the prevailing rate, which is currently 20%. Whereas the funder (a business that is VAT registered), uses the write-down rule each year to minimise taxation and then at the end of the contract sell the vehicle as VAT qualifying to a Dealership or via an Auction. The funder also purchases the vehicle for much less than a consumer would who purchases one vehicle every few years. Your contract hire rental is calculated using the purchase price of the vehicle and the expected resale value of the vehicle at the end of the contract. You just pay the part in between. Whilst you’d like to believe that if you purchase a vehicle via PCP or HP that you’d have a little equity in the vehicle after 3 or 4 years, have you ever known anyone make money from a depreciating asset other than a Dealership?
Personal car on lease
So, what’s included with your personal car on lease? You can take a personal lease on a non-maintained or fully maintained basis, the cost of course will vary. Road fund license is included at the prevailing rate. Just like the VAT is also included, you must be aware that it is at the prevailing rate and the time of taking delivery. Should the chancellor decide to increase VAT which to be honest is expected at some point to help repay the debts created due to the Covid-19 pandemic, then you are responsible for the increase as the funder can’t control the tax levy set by the Government. The vehicle of course has already been purchased so it’s the VAT on the monthly repayment and not the cost of the car.
Personal Contract hire is a good financially viable way to drive a brand-new car every 3 to 4 years and keep your repayments as low as possible. Just like any other financial agreement, it is subject to credit checks and will appear on your credit report. Leasing cars has become more popular over the last 10 years, as private individuals discover that it's a way to drive a better trim vehicle at a far more affordable cost.
What our customers say...
Stephen Keay The staff at NVS are of the highest quality when it comes to customer service
The staff at NVS are of the highest quality when it comes to customer service, I was informed of any updates to my vehicle delivery so was never left in the dark, even when I was having difficulty insuring the vehicle (as some insurers had been less than helpful) they went to the effort of researching the information I required and even got me 5 days free insurance. The staff who I dealt with (Lynn and Simon) were a pleasure to speak to and always reassured me of any concerns. This is my second car I have leased with them. I now have a sparkly new car which cost less than the nearest rival and could not recommend enough. Thanks again Lynn and Simon.
Leased a Audi A6
Absolutely amazing service from initial contact to my car being delivered Simon provided me with the most competitive price for my car and kept in regular contact during the process.
Any questions I had were answered promptly by email or with a telephone call.
Lynn provided an equally good service and answered all my queries immediately.
After my car arrived I had some further questions and Simon has very good provided me with details to allow me to access five days free insurance from Audi.
I have had leased cars previously with other companies however by far NVS is ‘ simply the best’
I would definitely recommend to anyone and I will use them again in three years for a new lease Simon and Lynn thank you for the fantastic service - I am very impressed
Very well done
Steve.Leased a Audi A4
Great communication and very timely service. Things get done when they say they will and you get calls exactly as planned. Lynne was very helpful, quick and organised.
Leased a Volkswagen Tiguan
