How to build your lease with FVL
Leasing a car means choosing a trim, a term, how far you drive in a year and how much you put in as an initial rental. We check availability with the funder, send the paperwork out, and the car is delivered from the supplying dealer. Everything below is settled before you sign.
Some leasing companies will arrange PCP or hire purchase alongside leasing. We don't: every agreement here is a lease, so the car goes back at the end. First Vehicle Leasing is a credit broker rather than a lender, authorised and regulated by the Financial Conduct Authority, and 14-day cooling-off rights apply to both the brokerage and the finance agreement.
Contract length: usually 24, 36 or 48 months to suit your needs, with 36 the most common. Shorter terms cost more per month; our guide to lease length walks through the trade-off.
Initial rental: paid upfront and expressed in months, such as 3+35 or 6+35. More upfront means a lower monthly rental after that. It isn't refundable and it isn't held as security, so see how the initial rental works.
Annual mileage: funders quote 5,000, 8,000, 10,000, 15,000 or 20,000 a year. Be honest about it; going over is charged at a per-mile rate fixed on the agreement, typically 3p to 30p, and billed once at the end. Many providers allow a change part-way through.
Personal and business: personal prices include VAT; business prices are quoted excluding it, and VAT-registered businesses can normally reclaim 50 per cent of the VAT on car rentals and 100 per cent on a separately itemised maintenance package. Guide only, worth checking with your accountant.
Delivery: usually included at no extra charge to UK mainland addresses, home or work. In-stock cars are typically 2 to 4 weeks from order once the finance documents are back; factory orders more often 8 to 20 weeks.
Maintenance: optional and rolled into the rental, covering servicing, tyres, brakes and usually MOT and breakdown. With a 10,000-mile service interval, high-allowance drivers often ask us to quote it both ways.
End of the lease: the car is collected and inspected against BVRLA fair wear and tear standards. Within your allowance and in fair condition, there's nothing further to pay beyond the final rental.
What isn't included: insurance (fully comprehensive cover is a contractual requirement), fuel and electricity. A processing fee of £291.66 + VAT (£349.99 inc VAT) applies, payable only if finance is approved.
