A car lease lets you drive a new vehicle without paying a large sum of cash or taking out a loan.

To lease a car, you simply make a small down payment — less than the typical 20% of a car’s value you’d pay to buy– followed by monthly payments for the term of the lease. When the term expires, you return the car.

Leasing is more beneficial than buying a car when you:

• Don’t have the cash to buy the car.
• Want to drive a vehicle that’s out of your purchase price range.
• Won’t likely exceed the mileage cap in a contract—usually between 20,000 and 25,000 kilometres per year.
• Can take good care of the car’s exterior and interior, paying particular attention to avoid nicks, spills and other cosmetic damage.
• Expect to lease another car when your vehicle’s current contract expires.

Fully Maintained

This type of lease consolidates all your costs into one monthly payment that covers all the operating costs of the vehicle. The product offers competitively priced passenger and light commercial vehicle leases, removes residual, service and maintenance risk from your fleet.

Key features and benefits:

• Full scheduled servicing and maintenance nationwide through our extensive repairer network.
• Fuel card ordering and management.
• Accident and claims management.
• Fleet & FBT reporting.
• One fixed monthly payment.
• No residual risk.
• No vehicle disposal hassles “hand back keys” at lease end.

Non Maintained

Under a non-maintained operating lease the lessee is responsible for all service and maintenance and other running costs of the motor vehicle. Optional Lease terms from 1 to 5 years are available.

Key features and benefits:

• No residual value risk on the vehicle.
• The rental payments are fixed over the term of the lease.
• The vehicle does not appear on the balance sheet.