How Long are Car Leasing Contracts?

By Libby Foster
How Long are Car Leasing Contracts?
Everywhere you go there will be a limit on how long you can lease a vehicle. A leasing term defines the amount of time you will the agreement will last and therefore how long you will have a car or chosen vehicle for. With MWVC our leasing contracts have four terms, 24, 38, 48 and 60 months. Depending on your budget and preference will determine which leasing contract is the best option for you. 

Two to Three Year Leasing Contracts 

Two to three-year leasing contracts are a much more attractive version of leasing a vehicle, thanks to the monthly rentals being cheaper than buying. The cost is spread out so that you can reap the benefits of the manufacturer's warranty. A standard warranty will typically last 60,000 miles or three years, whichever comes first. Since our cars are all new you also won't be required to do an MOT for the first three years. 

You can currently get the MG Motor UK MG3 Hatchback 1.5 VTI-Tech Exclusive with five doors on a short term leasing contract. On a 24-month contract term you can get this stylish MG from as little as £216.72 per month (inc VAT)* thanks to our special offers. Not only is this car great to look at but included within its standard equipment are a satellite navigation system and a rear parking camera. 

Long-term Leasing Contracts

Unlike two to three-year leasing contracts you may enjoy having a car for longer, this is where long-term leasing comes in handy. Four years is the standard maximum limit for a leasing contract, though we do offer up to five years for those who want to keep the car a little longer. Long-term leasing offers you as a driver to have a vehicle you want for a longer period, without the hassle of trying to sell it depending on your contract agreement. 

With a long-term contract lease, it is important to remember that after the first three years that MOT and services will no longer be covered. However, at MWVC there is the option to include a maintenance package which will be included within your monthly payments. Our maintenance packages are tailored to your contract length and mileage and will cover servicing, replacement tyres and other consumable parts.

If you are looking for a long-term leasing contract then we have the perfect offer for you. The Peugeot 208 Hatchback 1.2 Puretech 100 GT Premium with five doors is currently on special offer. For a four-year leasing contract, you can pay as little as £259.00 per month (inc VAT)* depending on how much initial rental you put down. The Peugeot 208 comes with an impressive standard equipment package, from its smartphone docking station to its Visio park assist 180 with a colour-reversing camera. This car has it all. 

What Contract Should You Choose? 

To decide which is the best leasing contract term for you, you should consider two things. Firstly, you should check that the monthly rentals fit your budget. After taking into account the initial payment, make sure to look at your budget each month and decide if it is the best option for you. Secondly, consider how you plan to use the car. If you are looking for a reliable new car every couple of years then a two to three-year leasing contract will be suited to your needs. However, if you want more time with your new car a long-term contract is what you are looking for. 

Read more blogs here.

*All pricing is correct at the time of publishing.