LeaseCar urges drivers to treat car finance like mobile phone contracts
The leasing broker, formerly Central Contracts, is pitching private drivers a modest upfront payment, a fixed monthly cost and a hand-back upgrade instead of PCP deals that end in a lump-sum balloon payment.
LeaseCar says drivers should start treating their car finance like mobile phone contracts, according to a report by MotorTradeNews.com, which says the company was recently rebranded from Central Contracts.
The company recommends four steps: pay a modest upfront cost, set a fixed monthly budget, have the vehicle covered by full manufacturer warranty, and hand the car back to upgrade to a newer model when the agreement ends.
LeaseCar argues that millions of households overcomplicate how they pay for cars. It says they are caught out by high interest rates, complex trade-in valuations and lump-sum balloon payments at the end of dealership deals such as Personal Contract Purchase (PCP).
Gareth Roberts, strategy director at LeaseCar, said: "Drivers are fed up with haggling over confusing finance deals, interest rate surprises, and huge balloon payments at the end of PCP agreements." He added that under a lease, "One simple monthly fee covers the vehicle, full warranty, and optional servicing—meaning no unexpected repair bills, no resale panic, and an easy path to upgrade every few years."
LeaseCar presents this kind of 'car-as-a-service' arrangement as a route for drivers who want a modern petrol, hybrid or electric car without taking on long-term ownership.
Sources
MotorTradeNews.comHow THRIVE sources and checks its stories · Corrections, and how to report an error
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