Leasing Guide

How does leasing affect car insurance?

How does leasing affect car insurance?

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If you’re looking to lease a car then you need to think about insurance. Insuring your car is one of the biggest extra costs when it comes to cars, whether you are leasing or buying. But, does it affect insurance? And if so, how?
We should note, before we start, that we are not insurance brokers. Therefore we are not experts. If you are in any doubt about insurance we do recommend you go to an insurance broker. However, we can give our opinion. And, we give our opinion out to customers every day. So, how does leasing affect car insurance?

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Car leasing jargon

Car Leasing Terms & Jargon

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If you are looking at car leasing for the first time, then you are probably doing some research around the topic.

Approaching a new topic for the first time can be daunting, and car leasing is no different. And one of the most daunting aspects of car leasing can often be the amount of jargon that is thrown about. PCP, HP, wear and tear, so many acronyms and phrases that aren’t always known outside of the automotive world.

But, it doesn’t have to be daunting or confusing, and at OSV, we want you to be as knowledgeable as possible before beginning your car leasing journey. So in this article, we are going to go through the most commonly used phrases and acronyms in the car leasing industry, and what they mean.

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5 things you need to know about credit checks and car leasing

Credit check when leasing a car? 5 things to know

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When you lease a car, your vehicle broker or your dealer will have to carry out a credit check. But, what if you don’t have a great credit score? Is there any way you can lease a car without a credit check?

The short answer is no, not really. But, it’s not all terrible. At OSV, we talk to people who have bad credit ratings every day, so we’re going to talk you through exactly what a credit check involves, and whether it’s really that important.
Credit checks are important for the leasing company because it gives them peace of mind. They need to be sure that you will pay them back, and to do that they need to check that you’ve made other payments on time.
Many mainstream lenders will also look beyond your credit score. They will look at things such as how well your account is kept, and if you’re in arrears. They will also want to know;

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Who qualifies for business car leasing?

Who qualifies for business car leasing?

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There are many forms of leasing, and they suit everyone from business customers to private customers. Business leasing is very popular with both large businesses and smaller ones. But who qualifies for a business vehicle lease? In this article we cover which businesses can get a vehicle lease through a business lease, and other considerations…

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Van leasing for your business

Business van leasing

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If you are a business, then the chances are that you want a van. Or maybe you want several vans. How are you going to go about getting them? There are a few options available to you; you could buy them outright with cash, go through a purchase scheme, or you could lease them. We know that in business, cash is King, and buying several new vans with cash might not be the most attractive, or viable option for you. A purchase scheme is another option, going through a Hire Purchase means that you will own the vans at the end, but the monthly payments can be pricier. So, you might be looking at leasing. Leasing vans is a very viable option, and one that many are coming around to the idea of.

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Guide to business car leasing for the self-employed

Business car leasing for the self-employed

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More and more people are becoming self-employed and with the rise of start-ups and the ‘gig economy’, it’s no surprise. Of course, if you are a self-employed, then you will most likely need a car. And if you are self-employed, you might be wondering whether you can lease a car via a business lease, rather than a personal lease. In this article, we look at business car leasing for the self-employed including looking at what business options are available to you, the criteria and the business benefits of leasing.

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How can I get a business car lease?

How can I get a business car lease?

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Business leasing has grown increasingly popular as of late. It’s easy to see why; not only is it cheaper than buying a car or van outright. It’s also better for business that want to change their fleet of cars regularly.
So, what sort of business you car finance options are available? And, which one is right for your?
We lease to business all the time, so we know pretty much everything there is to know about business car leasing.
So, what business car lease options are there?

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Benefits of leasing privately vs through a business

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Should you lease a car privately or through your business? There are advantages to each, and therefore without all the information in front of you, it can be hard to make the right decision. In this article, we’re going to outline the differences between leasing privately and through a business and the benefits of each.

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What do admin fees pay for?

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Leasing a new vehicle is a huge investment, both in time and money. So when you are told about admin fees it can feel as though it’s just another thing for you to pay out for. So, what are admin fees? What do they cover? Where do they go? In this article we take a look at all the reasons why it’s worth paying to get a better, more reliable service from your Vehicle Broker.

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How do I extend my car lease?

Can I extend my car lease?

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If you’re approaching the end of your current lease contract, you may be wondering ‘can my lease be extended?’ You’re not alone. Many people find that there is a period between one contract ending and another starting, and they don’t want to be without a car. Or, perhaps they’re just not ready to part ways with their trusty four wheels just yet. Whatever the reasons, there are certain ways to extend the lease contract on a car.

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How is the price of a Hire Purchase calculated?

How is the price of a Hire Purchase calculated?

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When looking at different finance agreements, it’s important you know how the price of each is calculated. This will help you make an informed decision as to which finance agreement is right for you, and gives you complete transparency, so you know exactly what you are paying for.

We think this is a really important aspect of your journey as a buyer, and it’s vital that you fully understand where your money is going.

So, in this article, we’ll look at how the cost of a hire purchase is calculated, and what sort of things affect it. A hire purchase, as it’s a finance agreement, is calculated differently to a lease contract like a contract hire, for example…

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Personal Contract Purchase vs Personal Contract Hire

Personal Contract Purchase vs. Personal Contract Hire

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One of the biggest decisions you will make when it comes to choosing a new car is what sort of finance agreement you are going to get. We often get asked to explain the differences between personal contract purchase and personal contract hire as they are quite similar. However, there are some key differences that could be the decider in which agreement is best for you.

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How can I get guaranteed car finance?

Can I guarantee I get car finance?

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If we’re being honest, there isn’t actually any way you can 100% guarantee car finance. However, this isn’t an article filled with doom and gloom because there are ways that you can increase your chances of getting a car finance application approved. In this article we look at the ways you can improve your chances, if you are a student, on benefits or have a low income.

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Can I lease a car if I have bad credit?

Can I lease a car if I have bad credit?

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So, you want to lease a car. The problem is you have a less than perfect credit score. Maybe you’ve paid one or two bills a bit late, which has resulted in a low credit rating and it feels like you’re never going to get the car you want or need. However, this isn’t always the case. There could be a chance that you can still lease a car.
In this article we look at the things that can affect your credit score and the ways you can still lease a car if your credit score is less than ideal.

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Is it worth having a company car?

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Company cars have always been popular. They can be a great incentive to staff and prove a good way to attract the best candidates to work at your company.

But the changes occurring to tax benefits may have many questioning whether it’s still worth having a company car. In this article, we look at whether a company car is still worth it, and what the alternatives are.

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Can I get car finance with a guarantor

Can I get car finance with a Guarantor?

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If you’re having difficulty getting approved for car finance, then you might want to consider using a guarantor. But, what exactly is a guarantor? And, how do they help you get car finance? Using a guarantor is not a new concept nor is it uncommon for things such as mortgages. It is more uncommon to be used when it comes to car leasing. But, it can be advantageous and is definitely something you should consider. In this article, we look at what a guarantor is, and how they can help you get approved for car finance.

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I can't keep up my car repayments

What happens if I can’t make my car repayments?

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If you find yourself in the unenviable position of having lost your job then it’s possible you will find that you are no longer able to keep up the repayments on your lease vehicle. It can be incredibly stressful if you do find yourself in this situation and it’s easy for panic to take over. In this article we talk about some of the options that are open to you if you do find yourself in financial difficulty.

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Why is BCH cheaper than PCH?

Why is Business Contract Hire cheaper than Personal?

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Is Business Contract Hire cheaper than Personal Contract Hire? The question is a completely valid one, of course, because everyone wants to get the best deal they can. If you have the option of leasing a car through a business then you will definitely want to know if that is the cheaper option. In this article we will look at the main differences between Business and Personal Contract Hire, as well as the pros and cons of both options, so that you are well-informed before you make a decision.

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Can I hand my lease car back early?

Can I hand my lease car back early?

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You can hand your lease car back and terminate your lease contract at any time. However, as with any financial contract, there will be a penalty for doing so. The penalty for terminating your lease contract early will depend on a number of factors. Primarily it will depend on how long is left on the lease contract. In this article, we’ll take you through the process for each lease type and what financial penalties you could expect to pay.

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Is insurance provided when I get a lease car?

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So, you’ve decided that you’re going to get a lease car. Now you’re looking at the other outgoings you’ll need to consider, including insurance. We often get asked whether insurance is included in a lease contract, so here we hope we’ve given you all the answers you could possibly need, and maybe give you some information you haven’t thought about.

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Who is the registered keeper of a lease car

Who is the Registered Keeper of a lease car?

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Do you know who the Registered Keeper of your vehicle is? Chances are, if you have a lease car then this is a question you will need the answer to, especially if you’re looking to get a new parking permit, or are going through the process of sorting out your vehicle insurance.
Did you know that the Registered Keeper can differ, depending on what type of lease you have opted to use to get your new vehicle? In this article we set out to answer all the questions you might have about

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Who is responsible for registering a leased vehicle with the DVLA?

Who is responsible for registering a leased vehicle with the DVLA?

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Registering a leased vehicle with the DVLA is a legal requirement. The DVLA stands for Driver Vehicle Licencing Agency. The DVLA is a huge database containing information on every car in the UK. This includes vehicles that are no longer on the road. The information the DVLA keep includes the car specifications such as make, model and colour. Alongside the contact information of the registered owner and registered keeper of the car. We get asked a variety of questions about registering leased vehicles, but the most common is whether the responsibility of registering a leased vehicle lies with the lease company or the driver.

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Man wearing white shirt thinking.

What are the best leasing options for you?

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If you are in the market for a new car, you might be looking at a ‘monthly instalment’ plan. This is where you pay a monthly fee for a vehicle, and then depending which plan you go for depends on what happens at the end. You have a few options available to you. But, what are they? And what is the best option for you? In this article, we give you the lowdown on each leasing option, what it entails, and hopefully, help you decide which one is right for you.

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