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Registered Office:

Fairgate House

Kings Road

B11 2AA

Tel: 0333 006 4006

Mon-Fri  -  9:30am - 5:30pm

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Leasing Wheels are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 828828

Registered in England & Wales with company number : 10035221 | Data Protection No : ZA180341 | VAT No : 207201166

Registered Office : 205 Kings Road Tyseley, Birmingham B11 2AA

 

Copyright © 2019 Leasing Wheels, All rights reserved.

How our prices and deals work

In a short story how contract hire quotes work:

They consist of 3 elements Mileage, Length of contract and initial payment. You need to pick mileage, how long you need the vehicle for and how much initial payment you want to pay. Each of those will play a role in your monthly payment. so see below our examples and tables to see how you can calculate your own quote. 

Mileage

In the first column you will see the mileage which is usually either 5k,8K,10K or 15K and the mileage is what you could be doing annually. 

 

If you need more mileage than what we have listed please feel free to request a tailored quote.  

Increasing or decreasing mileage allowance per annum will effect the monthly payment and initial payment, more mileage will result in more cost.

Contract Term

Contract terms is the length of years you would like the vehicle for which is typically 2,3 or 4 years.

At the top of our table you will see the length of the

contract which is broken across in 2,3 or 4 years.

Cost per month

The vital part! You can see the monthly cost just under the length of year and inline with mileage. You will also see three payments options first one is based on 3x initial payment second based on 6x initial payment and third one is based on 9x initial payment. 

Initial Rental

or "initial payment" is something that is paid towards the contract of the hire agreement. The initial payment is paid after the car has been delivered and in second month the monthly payments start. 

Initial payment typical starts with "3x" which means 3 times the monthly payment and goes up in 3's so you have option 3x,6x or 9x the monthly. In some contracts you can choose a actual figure to be the initial payment rather than the typical options.

Your initial payment can also be used in a way of controlling the monthly payments, higher the initial payment lower the monthly payments or lower the initial payment higher the monthly payments.

Increasing or decreasing mileage allowance per annum will also effect the monthly payment and initial payment, more mileage will result in more cost.

How to configure your deal:  

Example one - If you're looking for a lease deal over 2 years and will be doing approximately 10k miles per year and want to put a reasonable amount of initial payment (6x) your monthly payment works out to be £431.15 for that specific car.  

If you see below our table you will see the deal is based on which we have just explained above, it is based on 2 years with 10k mileage and 6x initial payment: 

Example 2 - If you are looking for a car and your monthly budget is around £350 

Your quote will be based on:

8K miles with initial payment of £3,337 on a 3 year contract.

we also can do custom quotes if needed

e.g longer or shorter contracts, bigger or smaller initial payments and less or more mileage, we can amend it!