Just as you would if you were to buy a car on finance, you’ll make a series of regular monthly payments over the course of the agreement when you lease a car.

You'll also need to make an 'initial payment'. This will be equivalent to the first few months of monthly payments. Generally, the higher initial payment you can make, the lower your monthly payments will be.

Depending on your leasing agent, you may also be able to include car tax, vehicle maintenance and servicing within your agreement. Maintenance packages can be used to cover a wide range of usual maintenance items that a car may be expected to require during the term of your agreement. Check with your lease provider to find out what is included. Of course, a lease with a maintenance package is often slightly more expensive than one without.

At the end of your agreement, you will not own the vehicle and simply hand the car back to the lease company. 

• Lower monthly payments/deposit
• Upgrade opportunities
• Minimal maintenance costs, especially if you choose a maintenance package
• No long term commitment
• No worries about depreciation

• You will never own the vehicle and there is no option to purchase
• You will be limited on mileage and be charged for any miles covered over the agreed amount
• You will be charged for any damage to the vehicle that is above normal wear and tear
• Terms and conditions of a lease can sometimes be quite restrictive. Ensure you are fully aware of them all before signing the deal