At Flexed, we specialise in short-term car leasing, but you might be asking yourself how it actually works. Here’s an outline of how car leases work in the UK:
A short -term car lease is a flexible arrangement whereby an individual or business can make use of a vehicle for a fairly short period, which typically ranges from as little as one month to up to a year. This makes it ideal for those that need a vehicle or fleet for a shorter period of time, and for whom committing to long term leases or ownership may not be the ideal solution.
Payments for short term car leases generally involves monthly payments, the amount of which will vary mostly depending on the make and model of the car, how long the lease is and other factors such as the mileage limit set by the leasing company. Occasionally, a deposit or upfront fee may be required. Insurance and routine maintenance are often included in short-term leasing packages, but the lessee is typically responsible for fuel and other variable costs, including any penalties for excessive wear and tear or surpassing mileage limits.
Mileage limits are a major component of short-term leasing, with most contracts coming with a mileage cap – if this limit is exceeded, additional charges will usually be applied.
Leasing companies typically offer a wide selection of vehicles, from economy models to luxury cars, SUVs, and trucks, depending on individual needs. Short-term leasing is also appealing to those who want to drive a newer vehicle, as it often allows lessees to enjoy cars with the latest features and technology without a long-term financial commitment.
At the end of the lease term, the vehicle is returned to the leasing company. Unlike car ownership, there is no need to worry about selling or trading in the vehicle.
How is Flexed different?
When we launched Flexed in 2013, we were tired of seeing rigid lease deals on the market that are impossible to change or cancel. Put simply; they cause frustration, and cost consumers money and time whilst leaving them disillusioned with what should be a great way to take the worry and stress out of car ownership.
Our contracts start from a minimum period of 28 days, but thereafter you can cancel, swap or change your vehicle with no extra charges. This is in contrast to other leasing companies, where you’re often locked into an extended contract with no flexibility.
What’s Included?
With the above in mind, we try and make things as easy as possible for our customers. So, all 28-day contracts include:
- A new vehicle (less than 12 months old)
- Manufacturer warranty
- Road tax
- Breakdown cover with Roadside assistance
- UK wide delivery available
- 15,000 miles per annum (calculated on a pro-rata basis) contract allowance
- Higher mileages up to 25,000 miles per annum available.
And if your chosen car is in stock, we’ll also aim to have you driving away in just a matter of days!
What’s the difference between short and long-term leasing?
Short-term car leasing is similar to long-term car leasing, but without the long-term commitment. Our car lease lengths range from a minimum of 28 days, all the way through to a lease lasting a year.
With our short-term car leasing service, cars are available on a month-by-month basis. A 28-day lease is the most substantial commitment you need to make.
How flexible is the lease duration?
If you lease a car for 6 months, but decide afterwards that you only need the car for 3 months, our short-term car leasing accommodates this.
We make it easy for you to change the length of your lease. You’re not committed to anything further than the minimum of 28 days.
How is the cost of the lease decided?
The price of the lease depends on a few things:
- The model of car you wish to lease
- The length of the lease
- The mileage allowance you choose
Our mileage allowances are displayed in terms of annual mileage (pro-rata-daily) and effectively mean that the amount you pay up front depends on the number of miles you want to travel each month.
With Flexed, we include 24-hour emergency assistance, maintenance, road tax and vehicle recovery within the price of the lease too. These are all available as long as you have remained within the mileage allowance that you have paid for.
Is a short-term lease right for me?
In summary, short-term car leases are designed for instances in which you may need a car in the short-term, but may not be entirely sure how long for.
The fact that you only need to commit to 28 days means that you can lease the car for as long as you need after that initial period, knowing that you can close the lease at any time and return the car.
Short-term car leasing lets you avoid the long-term tie-ins that are often included as part of car rentals.
Remember, if you need any help, please give us a call on 0800 311 8290 and we’ll be happy to answer your questions.