Our guide to the leasing order process

We’ve put together a handy how-to guide outlining all the steps you’ll need to complete with us to start your lease.

Car leasing doesn’t have to be complicated.

Now you’ve found your dream car, chosen your term and been offered the best possible deal for your lease, it’s time to place your order.

But how does leasing a car actually work?

We’re on hand to guide you through everything from applying for vehicle finance, to signing your contract, to booking delivery. But for those of you who like to look before you leap, here’s everything you need to know about our process and how your car lease works.

Ordering your lease car with Carparison

The first step in putting you behind the wheel?

Submitting a finance application to one of the wonderful funders we work with.

You can do this directly from our website using the page showing your chosen deal, through our online finance application form, or with the assistance of our dedicated Sales Team, who will take the required details over the phone.

The information you’ll need to provide may differ depending on if you want a personal or business car lease, but will generally include your name, address, income and bank details.

Once your application is ready, it’ll be submitted directly to the funder. They’ll carry out a full credit check to make sure you’re identifiable at your current address and that your affordability is right for your chosen lease.

If you usually keep your credit file closed, you will need to open it for this credit check.

Generally, it can take up to 24 working hours for the funder to make a decision about your application, but could take longer during busy periods.

We’ll be the ones to advise you of their final decision, but you can see live progress through your customer account.

Obviously, the best outcome is an accepted application. This means you’ve been approved on finance and we can formally take your order for the car of your dreams.

A declined finance application means you haven’t been accepted on finance. And while this is a setback, it doesn’t mean you can never take out a lease car with us.

There are ways to improve your credit score so we can revisit an application down the line. And if you want to talk to us about other options, that’s definitely something we can run through with you.

In the meantime, our FAQ page has lots of information about finance applications and how they work.

What happens after your order is accepted? 

Once approved, we’ll send you a customer order form outlining the vehicle details, term and agreed rental price, for you to sign and return. This is so we can secure your new car with the supplying dealership.

With the help and assistance of your own dedicated Customer Experience Champion, we’ll guide you through the next steps between order acceptance and delivery. 

1. Payment of the processing fee

Unless otherwise agreed with you, we charge a one-off processing fee of £298.80 (including VAT) for all accepted orders. This contributes to our costs in sourcing, marketing and securing your car for you. 

Once you’ve received this invoice, payment can be made via BACs, or over the phone to your Customer Experience Champion.

When payment has been made by yourself, we’ll send your finance contract for signature when it’s available.

2. Your finance contract

We call these your 'finance documents.' This is the contract between yourself and the funder who has accepted your finance application. It must be signed by you and verified by the funder before you can take delivery of your new car.

Your contract will contain all the terms and conditions of your lease agreement, such as the total duration of the lease and details about your payments.

You should read all the clauses carefully before signing the contract for your lease. While you can sometimes exit a contract early, you’ll still have to make a final payment that will be decided by the funder. So, make sure you understand the terms and are confident your situation won’t change, before you sign.

The contract won’t be set live until your delivery date – so if there’s a long wait on a factory order, you can sign ahead of time to secure your rate, knowing you won’t need to pay a penny until the car is physically in your possession. 

3. Booking your delivery

Once the funder has verified your finance documents and your car is ready, they’ll give us the go-ahead to book your delivery.

Your Customer Experience Champion will liaise between you and the supplying dealer to agree a delivery date that works best for you.

Your car will be driven (unless another delivery method is otherwise stated) by the dealer, or one of their agents, to your chosen delivery address where you’ll have a chance to inspect your car thoroughly before signing for it.

We expect the delivery agent to give you a call on the day to advise of an ETA. Because road and traffic conditions are so unpredictable, we’re not able to agree specific times with them in advance.

While your car will accrue mileage during the delivery, this is not counted towards your agreed mileage with the funder. The delivery agent will take an odometer reading when they arrive and your contracted mileage will start from the reading.

You might be expecting a V5 certificate to arrive with your car, but this will stay with the finance company as the registered owner and keeper of your car.

Our delivery FAQs cover everything you need to know about the big day.

We expect your delivery to run smoothly, but on the rare chance you encounter a problem, or the experience falls short of expectations, just let us know and we’ll liaise with the dealer on your behalf to address any problems.

Selling your car before delivery

Your new lease car might be a second vehicle, or it might be a replacement for the one you already have.

But if you plan on making a big upfront payment as part of your lease, selling an existing car before delivery can help cover that expense.

And it’s something we’re happy to help you with. While we don’t do direct part-exchange, we do work with Motorway, who can help you sell your car in time for your delivery.

So, you’ll have all the cash you need in your account ready for the start of your lease.

It’s a completely free service, with no hidden fees to sell your car through them. And just like ordering your car with us, it’s something you can do online. It really couldn’t be simpler.

Ask Motorway for a valuation today.

Your lease payments: monthly and initial rentals

Your lease starts on the day of your delivery.

Every lease agreement is different, but typically we’d expect you to pay an initial rental and then a monthly payment to your funder.

The initial rental is more or less the same thing as a deposit; an upfront payment at the start of the lease.

Your monthly rental is the agreed monthly amount you pay to lease your car.

Paying a bigger rental upfront can reduce your monthly payments, but ultimately, it’s up to you how you spread the cost of your lease.

Most of the time, your rentals will be taken by direct debit from your account, with the upfront payment coming out around 7-10 days after delivery (usually when the funder receives your delivery paperwork).

But in some cases, you might be asked to pay the initial rental before delivery takes place.

You can find your initial and monthly rentals listed on both your finance contract and your customer order form – so hold onto them.

You could potentially be charged additional costs at the end of your lease when your car is returned to the funder. Excess damage or mileage can mean additional fees, but this should be clearly outlined in your contract before the lease begins.

What do you need to pay for during your lease? 

One of the huge benefits of leasing your car is exactly what is included with it:

·        Free UK mainland delivery

·        Standard manufacturer warranty plus breakdown cover

·        Cost of road tax for the complete lease term at the prevailing rate

·        Quality customer service and support from us through your lease term

This means all you need to worry about are the day-to-day costs of running your car, like taking care of fuel and insurance, which aren’t covered by monthly payments.

You may also need to pay for annual servicing if you have not opted to take out a maintenance package as part of the lease. But, if you’ve chosen a maintenance package through your funder then this will be included in your monthly payments.

And because your car is brand-new, there is no MOT requirement for the first three years. So, you will only need to fork out for one if your lease is longer than 36-months, or if the third anniversary since the registration of your vehicle occurs during your lease period (ie. if you have a pre-reg car).

How handy is that?

Taking care of your new lease car

Having a brand-new car is exciting and we know you want to take good care of it.

Not only does the right care keep your car looking good on the road for as long as possible, it helps you and your wallet avoid unwanted fees at the end of your contract.

And for the conscientious driver, there are optional extras you can choose to tack onto your lease. 

RAC extended warranty 

If your car is pre-registered, the manufacturer warranty that comes with your car may run out before the end of your lease.

And after a few years on the road, unexpected problems popping up might be more of a worry. In which case, an extended warranty to protect yourself and your car when the manufacturer warranty runs out could be an ideal solution.

Your Leasing Consultant will go through this with you in more detail and if you’re interested, build it into the cost of your lease. 

Home-charging solutions

It’s an exciting time to take out an electric car lease.

But if you’re making the switch for the first time, there’s probably a few things you now need to think about – including home-charging.

We’re partnered with British Gas to provide flexible and affordable home-charging solutions. Ask us about it and we’ll get you a great deal with minimum fuss.

What to expect at the end of your lease

It probably seems a long way off, but sooner or later your contract will come to an end. And when it does, you’ll be faced with returning your car and finding a replacement for it.

But we’ll be in touch with you in plenty of time to talk about a new lease. We’ll discuss any lifestyle changes that have happened during your lease and help you find your next car, at the best possible rate.

And as your contract gets closer to ending, the finance company should typically contact you to arrange collection. This is where careful planning is key.

We recommend you arrange your vehicle collection as close to your new vehicle delivery as possible, so you stay mobile as you move between cars.

But be wary of when your last payment will be taken when you book your collection. If your delivery takes place before your collection, you could end up paying for both cars in the same month.

And on a practical level, think about what it would be like to have more than one car in your possession. Do you have adequate parking for two?

But if you order your next lease car with us, we’ll work with you and the funders involved to arrange a smooth transition between collection of your current lease car and delivery of your new one. 

Your car will be collected from your home address at a time and date that works for you, at the end of your contract. They’ll inspect the car for excess damage and mileage and notify the funder if additional charges apply.

Finance companies don’t expect your car to be in showroom condition after a couple of years on the road (that would be an impossible ask).

So, they should only charge you if your car is returned in worse condition than expected. You can check the BVRLA Fair Wear and Tear guidelines to see what is allowable.

And as the time gets nearer, you should check our guide on returning a lease vehicle.

Optimising your lease so that you get the most value for your money definitely involves a few moving parts.

But with a clear overview of our process and everything you might need to think about, you’ll be equipped with all the information you need to select your perfect lease.

But if you have any unanswered questions, look at our Leasing Guides or give us a call. We’re always on hand to answer queries and discuss any of these steps in more detail with you.