When it comes to any type of car leasing, the contract profile can be very confusing, especially if you have never contract-hired a vehicle before.
When it comes to traditional leasing, you do see terms such as 3+23, 6+35 or even 6+, 9+.
So we thought we’d use this article to try and explain what this is and then to take a look at how a similar profile set-up works with our short-term car leases.
Car Lease Profiles Explained
Most car lease payment profiles are made up of an initial payment and subsquent fixed monthly payments.
The initial payment is usually a mulitple of your fixed monthly payment.
An example of this is if you are in the market for a 2 year car lease (24-month contract) and your monthly payments for your chosen car are £500 per month.
A typical payment profile that is advertised as a 3+ could be made up of an initial payment of £1,500 (3x £500) and then 23 payments of £500 (fixed monthly payments).
Your first payment (initial payment) and the 23 subsquent monthly payments add up to 24-months (2 years), the lenght of your contract hire agreement.
This would be advertised by many of the car leasing companies as 3 + 23.
Short-Term Leasing Profiles
Unlike many of the other short-term car lease companies, we advertise our fixed contracts based on a 1+ profile. This means that the initial payment will be the same as the subsquent payments. We don’t believe in surprising people with high upfront payments on a short-term lease.
But, if you did want to put more money down, then this will in turn lower your monthly rental and will not cost you anymore money over the term of the contract.
Some may ask why would you want to do this, but we have business owners who want to pay a lump sum before their year end or those who like to keep their monthly car costs to a certain amount.
Changing the profile on short-term
On all of our short term car lease vehicles will show prices at the bottom of the page based on 1+, 2+ and 3+, so if you did want to put more money down you can see what it will cost you on a monthly basis, here is a screenshot of our page.
If you take a look atthe screenshots, you will see where the contract profiles are listed.
The headline price is based on a 1+ unlike other short-term leasing providers.
The amount you pay over the contract length, will always be the same amount.
The example screenshot was taken on the 31st March 2023 at 10.50am, the offer may not be available anymore and is shown as an example only.
If you would like any further hel with finding the right short-term car lease for you, please speak to the team on 01332 290173 or use the ENQUIRY FORM at the bottom of this article. You can also see our list of short-term car lease offers using the links on the website.