The benefits of using a leasing broker to find your next car lease

Why you should choose a broker to support one of life’s biggest buying decisions

Our cars are some of the most expensive assets we'll ever purchase throughout our lifetime. Often only topped by our homes, they're one of our biggest expenditures.

Buying privately, visiting a dealership or - and this is where we come in - choosing a leasing broker - there's a wealth of options to choose from when purchasing your new vehicle.

Due to the flexibility it offers, car leasing has become an increasingly popular financing method. 

It can be a daunting new world if you’ve never used a leasing broker before, so we’re here to give you a few reasons why you might want to consider doing so.

What is a broker?

A broker is an individual or firm that acts as a third party to facilitate a transaction between a buyer and a funder, in exchange for commission.

Different kinds of brokerage services

The term ‘broker’ is not limited to one industry and can span multiple markets, including automotive, finance, stocks or property.

For example, if you’ve ever bought a house, you might have worked with a mortgage broker to confirm how much you’re eligible to borrow.

What is a car leasing broker?

The role of a car leasing broker is to introduce the customer to a panel of funders who can facilitate finance options for their new car.

Working as the third party in the transaction, Carparison work with several of the industry’s most respected funders, giving us the ability to be agile in an ever-changing market.

We've built preferential relationships with many leading manufacturers, affording us a level of flexibility that ensures we're consistently providing our customers with the most competitively priced lease deals on the market.

Through those extensive relationships, we can secure access to large volumes of vehicles across any make and model.

Where this can be advantageous to the customer is our ability to offer the most competitive prices across the market. Unlike a dealership, who might be limited to one or a handful of manufacturers, or even required to push towards a specific offer. 

We match our customers with the car that meets the needs of their lifestyle and their budget. 

What funders do Carparison work with?

Carparison work with many of the industry's leading funders. These include, but are not limited to the following: 

• ALD
• Alphabet
• Arval
• LeasePlan
• Leasys
• Lex
• Mobilize
• Novuna
• Santander
• Volkswagen Financial Services

How do car leasing brokers make money?

A car leasing broker can have multiple revenue streams, typically through commission on each lease deal and bonuses from the funders they work with.

At Carparison, we make our money when the customers we introduce to a funder enter into a lease agreement.

The money we earn per customer is not fixed and can vary from deal to deal. It could be through one or a combination of the following fees; processing fee, commission, delivery charges or a funder bonus.

Carparison place a processing fee of £298.80 (inc.VAT) on all car lease deals where the customer in question has been accepted on finance. Any customer who has their finance application rejected does not pay a processing fee.

A leasing broker can be paid in the form of commission from a funder for introducing a customer. At Carparison, transparency is at the heart of our business. We openly disclose the commission we make on each vehicle in the ‘Deal overview’ section of the vehicle listing. 

Striving for a more transparent automotive business, we made history by becoming the first leasing broker in the UK to do so. There could also be instances where we don't make commission on a vehicle - this too will be visible to the customer. 

Carparison offer free delivery on our lease deals, but there can be vehicles that require a delivery charge to be implemented.

On occasions, Carparison can charge £250.00 (inc.VAT) for a vehicle delivery. This could be a reflection of the deal in question, where Carparison commit to a large volume of physical stock that we need to be securely stored prior to delivery. 

Our vehicles can often be stored in a central UK location and in these instances, we do offer a free of charge collection service for customers who might prefer to pick up the vehicle themselves. 

Acquiring large volumes of stock can allow us to secure the best possible price for our customers and the delivery charge can contribute to the costs involved in storing and delivering the vehicles. Considering an in-stock vehicle over a factory order is a smart money-saving tips for your next car lease.

Why we charge a processing fee

Carparison have chosen to charge a processing fee to supplement the costs that are involved in vehicle procurement, marketing and administration.

Before any offer lands on our website, our Pricing team carry out extensive market research and will only push forward with vehicles that they believe represent genuine value for money. 

As well as the marketing and advertising costs, this fee also contributes towards the administration costs involved in supporting the customer through their leasing journey.

We pride ourselves on our award-winning customer service, with our team on hand to support customers through every stage of their leasing journey.

Advantages

• The best price guaranteed

Our Pricing team have done the haggling, so you don’t have to. The price we offer is the best possible price they can secure on that vehicle. This gives you peace of mind, knowing you can proceed in your car search safe in the knowledge that you’re getting a great deal.

• Choose from every make and model

Because we have built and developed extensive relationships with many of the leading manufacturers in the industry, we can offer competitive prices on every make and model. Unlike a traditional dealership, you’re not tied to one brand.

• Find your next vehicle from your sofa

Convenience doesn’t get much more convenient than ordering your next vehicle from the comfort of your own home.

We offer a fully digital leasing process that has been optimised with the customer in mind. Alongside the traditional contact methods of telephone and email, we’re proud to be open and contactable with multiple contact options, including a live chat on our website – where you speak to a member of our team – Calendly, and social media.

We encourage all customers to get in contact if they have any queries, no matter how big or small, as well as reading through our Leasing Guides for help FAQS.

Disadvantages

• Inability to test drive a vehicle

A leasing broker is typically unable to offer you the opportunity to test drive a new vehicle as we don't store physical stock at Carparison HQ.

We encourage all our customers to test drive any vehicle they’re considering leasing at their nearest dealership to ensure it meets their expectations and is suitable for the demands of their lifestyle.

Customers can also take advantage of our car reviews and other online resources to gather as much information about a vehicle as possible before making a final decision.

• Potential wait for your new vehicle

If you are buying through a local dealership, your chances of driving away in your new vehicle on the same day are increased. Unfortunately, this is not the case with car leasing.

Many of Carparison’s offers can be in-stock vehicles, meaning you’re only a short wait away from driving your new car – not to mention the opportunities we have to offer next day delivery – however, we also offer factory order deals.

Factory orders can vary but it is likely to be a matter of months, rather than weeks, before your new vehicle arrives.

A service you can trust

At Carparison, we’re conscious of the preconceptions that surround the automotive industry and we work tirelessly to combat those so our customers have complete faith in our work.

From customer service awards, to disclosing our commission or offering the opportunity to speak to a female member of the team in an effort to feel more comfortable during the sales process, we’re committed to challenging stereotypes and contributing to change.

Are leasing brokers regulated?

The Financial Conduct Authority (FCA) is the independent watchdog which regulates car leasing companies across the UK.

Carparison are one of the many car leasing brokers regulated by the FCA, underlining our commitment to treating customers fairly.

Carparison Limited trading as Carparison is an Appointed Representative of Product Partnerships Limited which is authorised and regulated by the Financial Conduct Authority.

The Treating Customers Fairly (TCF) guidelines outline the six principles we, as a leasing broker, must follow to ensure customers have all the information they need before making a final decision.

Setting a higher standard with Consumer Duty

Consumer Duty is an act implemented by the FCA which aims to sets higher and clearer standards for customer protection.

As of 31st July 2023, a new Consumer Duty will take effect. Designed to deliver positive outcomes for retail customers, it is important to understand how the new Consumer Duty act affects you.

Carparison act in compliance with the Financial Conduct Authority’s (FCA) expectations by following the guidelines set out in the latest Consumer Duty act. We ensure our customers receive fair prices and a quality service. Our service matches our customers with suitable products that need their needs.

Hear it straight from the horse’s mouth

You’re welcome to take our word for it, but we’d encourage you to read through a selection of the hundreds of fantastic Carparison reviews that our customers have left on Feefo.

Our team take great pride in reading the fantastic experiences that our customers have had.

Over the years, we’ve collected numerous customer service awards, including Feefo’s Platinum Trusted Service Award, which we were awarded in January 2023. A coveted award that is based on customer reviews, cementing Carparison’s customer-centric approach to car leasing.