Leasing Terms Explained
We understand that those who are leasing a car for the first time can find all the new terminology associated with leasing confusing. That's why we've pulled together this quick guide to help you navigate through the most common terms our customers ask us. Remember, if you are still unsure, or there is a term that's not covered below please feel to get in touch at firstname.lastname@example.org or simply give us a call on 0344 387 2727. We're here to help you make an informed choice!
Top leasing terms and what they mean
Initial Rental (or Initial Deposit)
The initial rental is your first monthly instalment, which will be at a higher rate than your subsequent payments. The initial rental is calculated in multiples of your subsequent monthly rental (usually 3, 6 or 9 times the amount of your standard payment). Intelligent Car Leasing also offer lease deals with no initial rental, which means your first monthly payment will be the same as your subsequent monthly payments - fixed for the duration of your contract.
Car leasing contracts typically range from 2, 3 or 4 years in length. These are are displayed in months on our website (shown as 24, 26 or 48 months). Simply choose the appropriate contract length to find out how much each monthly rental will cost.
Miles Per Annum
This is the number of miles you'll do per year (on average) over the length of your contract. Mileage isn't checked on a yearly basis; you just have to return the car at the end of the lease with a total mileage equal to or less than your chosen yearly average. A small charge per mile will apply for any additional miles over your agreed limit. This varies from car to car so please ask your advisor for more information specific to your enquiry.
This is an optional extra which covers all routine maintenance, servicing, tyres, batteries, exhausts and any necessary car repair costs but not accidental damage. Read more on our maintenance guide.
Vehicle Colour Preference
You can choose your preference of paint colour for most vehicles on our website. However, leaving this blank will allow the sales person to source multiple options for faster delivery. Note: metallic paint may cost extra.