Car Leasing

Car Leasing

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Life insurance for a predetermined period or defined 'term' of years.

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What is Car Leasing?

Car leasing, also known as Personal Contract Hire (PCH) or Contract Hire, is a way to get a new car without buying it outright. With leasing, you essentially rent the car for a fixed period, usually a few years. You make monthly payments during the lease term, covering the car’s depreciation. At the end of the lease, you return the car. Leasing typically requires a lower upfront payment and lower monthly costs compared to buying. It’s great if you like driving a new car every few years and don’t want the hassle of owning. Just remember to stick to the mileage limit and keep the car in good condition to avoid extra charges!

What Is Car Leasing

Types of car leasing options:

Personal Car Leasing

Explore the convenience of personal car leasing. Check out our range of leasing options designed to suit your lifestyle. Experience the flexibility of driving your dream car without the commitment of ownership.

Exploring Electric Car Leasing

Discover the convenience and sustainability of electric car leasing. Explore our range of flexible leasing options and experience the cutting-edge technology and eco-friendly benefits of electric vehicles.

Navigating Business Leasing Dynamics

Explore the efficiency and flexibility of business leasing. Delve into our diverse range of leasing options tailored to suit your business needs and experience the convenience and cost-effectiveness of leasing for your enterprise.

How does it work? - The Mechanics of Car Leasing

Car leasing involves renting a vehicle for a specified period, typically two to four years, by making monthly payments to the leasing company. Unlike buying a car, where you own the vehicle outright, leasing allows you to use the car without the long-term commitment of ownership. At the end of the lease term, you return the car to the leasing company. Leasing often requires a down payment and may include mileage restrictions and wear-and-tear fees. However, it can be an attractive option for those who prefer driving new cars regularly without the hassle of selling or trading in.

Paying an Upfront Fee

You will provide a lump sum payment at the beginning of your transaction or agreement instead of spreading out the cost over time. This initial payment secures the service, product, or contract you’re interested in. It’s a way to demonstrate your commitment and may offer benefits like discounted rates or streamlined processes.

Contract Length Considerations

When considering the length of your contract, you’ll want to assess various factors to make an informed decision. Think about your financial situation, how long you plan to use the service or product, and any potential changes in your circumstances. Longer contracts may offer stability and potentially lower monthly costs, but they also come with less flexibility if your needs change. Conversely, shorter contracts provide more flexibility but may involve higher monthly payments.

Nailing Down Annual Mileage

Nailing down your annual mileage is crucial when leasing a vehicle. Consider your typical driving habits and calculate how many miles you anticipate driving each year. It’s essential to be realistic and factor in any long trips or changes in your routine. Providing an accurate estimate ensures that your lease terms align with your actual usage, helping you avoid potential penalties for exceeding mileage limits.

The Joy of Driving

Get behind the wheel of your dream car with our comprehensive car leasing options. Explore our range of flexible plans tailored to fit your lifestyle and budget. Enjoy the freedom of driving without the hassle of ownership.

How much does car leasing cost?

Choice of Vehicle

Opting for a luxury car during leasing typically results in higher monthly payments.

Upfront Payment

A larger initial rental payment can effectively reduce the subsequent monthly repayment amounts.

Lease Duration

Longer contract lengths generally lead to lower monthly payment obligations.

Mileage Allocation

Higher annual mileage commitments within your contract often correlate with increased monthly payment amounts.

Eligibility Criteria for Leasing a Car*

  • Standard feature: Provides protection against unexpected damage caused by natural events such as heavy rainfall or river overflow. 
  • Buildings insurance: Provides cover to structure and permanent fixtures.
  • Contents insurance: Covers items inside your home, including clothing, electronics, furniture, and carpets.
  • Most standard buildings insurance policies provide coverage for damage caused by subsidence, but this applies only if your property hasn’t experienced such issues before.
  • Some policies may also include coverage for losses or damages to belongings due to subsidence and offer temporary accommodation if you need to move out during repairs.

Fire coverage is a standard inclusion in both buildings and contents insurance. If you have both types of coverage, it should safeguard the structure of your home as well as all the contents within it, from furnishings and appliances to jewellery, electronics, clothing, and books.

You almost certainly have coverage for damage resulting from storms under your buildings and contents insurance. This coverage can help mitigate financial losses caused by a storm, such as roof tiles being blown off. However, it typically applies only to your residence and any additional structures like sheds, excluding damage to fences, hedges, and gates.

Most standard buildings insurance policies encompass damage resulting from sudden water leaks or burst pipes, often referred to as “escape of water” coverage. Check with your insurer if your policy covers the repair or replacement of burst pipes, as some policies may only cover the damage caused by the leak. Note that gradual leaks, seen as a maintenance issue, are typically not covered.

Theft coverage is a standard inclusion in contents insurance but typically applies to items stolen from inside your home.

In reality, your phone is more likely to be stolen while you’re outside your home. To protect against this, you may need to add coverage for personal possessions outside your home, which is typically not part of the standard package. Double check with your insurance provider; if it’s not included, you can usually add it to your policy for an additional fee.

How to find affordable Car leasing options?

A useful guideline is to calculate the monthly expenses that would impact your family in case of your passing and then multiply this amount by a reasonable number of years. For instance, parents of young children may consider multiplying it by 15 years or more. It depends on your circumstances, such as dependents, their needs, and available income sources. 

1. Crafting a Realistic Budget

2. Vehicle Selection Strategies

3. Accurate Mileage Assessment

4. The Power of Comparison Shopping

Factors influencing your insurance cost:

Transparency in Comparison

Different insurance types come with varied pricing. It’s crucial to weigh your options to find what suits your business best.

Simplifying the Process

Your industry or profession has unique risks, impacting the insurance cost. Tailored insurance is key.

Get expert advice on tailored and affordable options

Larger businesses with more employees or higher annual turnovers generally face higher insurance costs.


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Frequently Asked Questions.

Can’t find what you’re looking for?

Life insurance provides a tax-free death benefit to beneficiaries upon the policyholder’s passing. It covers income replacement, debt repayment, funeral expenses, education costs, and estate planning. It safeguards loved ones financially, making it an essential tool for securing their future and addressing various financial obligations and goals.

Yes, you can generally cancel your life insurance policy at any time in the UK. During the 30-day cooling-off period after purchase, you can cancel without penalties. After this period, the process and consequences may vary based on the policy type. Hence we recommend that it’s important to review your specific policy terms. A consultation call with our insurance expert should help clarify any doubts. Book a free consultation today. 

In the UK, there is no set limit on the number of life insurance policies you can have. You can have multiple policies for multiple covers, but it’s important to ensure the total coverage meets your needs and isn’t excessive. It’s best to speak to our financial advisors and gain clarity. Avoid overpaying. 

While there’s no legal requirement for life insurance in the UK, most individuals choose to acquire it. This decision often revolves around safeguarding assets and ensuring the financial well-being of their families. It encompasses covering outstanding debts and providing financial security in case of critical illnesses.

If you outlive a term life policy, it expires without a pay out. Whole Of Life cover insurance continues with premiums and often has a cash value. Return of premium policies refund premiums if you outlive the term. Convertible policies can become permanent. Monefi can help you review policy terms and options with your insurer to suit your needs. 

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