When Is The Best Time To Lease A Car?

When it comes to leasing a vehicle, one of the common questions someone may ask is "when is the best time to lease a new car?" Similar to holiday costs, car prices also fluctuate throughout the year. As a result, certain months within the calendar year are better than others for signing a vehicle lease agreement.

Often, the best time to lease a car is when a new model has just been introduced, as the residual value is at its highest then. This results in lower monthly payments throughout the lease agreement as there isn’t as much depreciation to account for over the contract term.

Nevertheless, the advantages of car leasing, like fixed monthly costs and the opportunity to drive a new car every few years, make it a favourable option at any time. Also, as certain times, in-stock lease deals may become available on a vehicle you’re interested in, making it an offer you can’t miss out on. Keep reading as we discuss essential factors to consider and tips on securing the best deal for your new lease car.

New Reg Plates

Manufacturers release new cars at various times throughout the year, but a significant number of them coincide with the March and September registration plate updates. These months become crucial for car sales as people rush to acquire models with the latest reg plates. Leasing a car around these months allows you to be among the first to drive vehicles with the new plate, such as the 24 plates in March 2024 and the 74 plates in September 2024. Also, assessing the residual value of these new vehicles requires time by the funders, which often leads to an initial inflation of this price. Consequently, this results in lower monthly lease payments, as the estimated depreciation of the vehicle is considerably reduced.

On the contrary, in the months leading up to March and September each year, you may find special offers on cars that are soon to be succeeded by newer models. Funders are often keen to get these vehicles shifted in order to make way for the new ones and therefore, you may be able to get your hands on a cracking deal. These lease deals still provide all the primary benefits of vehicle leasing, along with the added bonus of reduced monthly payments.

Lease In The Winter

During winter, particularly towards the Christmas period, the car industry tends to experience a quitter period as people focus on saving for presents and reducing expenses. However, this quieter time can present an excellent opportunity to secure a fantastic deal on a lease car. Aiming to boost leasing demand, vehicle prices may reduce and it's an ideal moment to explore and discover potential bargains.

Car Bodystyle

When choosing the right time to take out a car lease deal, price is not the sole factor to consider. It's also essential to take into account the type of car you desire. For instance, if you're considering an off-roader or SUV, such as an Audi Q5 lease, it might be beneficial to do so before winter arrives. This way, you'll be well-prepared with features like all-wheel drive and weather-specific driving modes, making it much easier to navigate the challenges of the UK winter. 

Here, GB Vehicle Leasing have put together a handy guide to car body types in order to assist you in determining the ideal type of car for your needs. If you find yourself uncertain about which car to lease, we strongly advise reading this guide before beginning your search for a new lease vehicle.

Early Termination Of A Current Lease

If you've recently come across a tempting lease deal but are already committed to another lease agreement, you might be wondering whether it's possible to terminate your contract early. While we typically recommendation you wait until it's time to upgrade your car, we also understand that sometimes customers want to upgrade early for a new model and the latest features.

With an early termination, it’s important to note that it’s subject to the finance provider's discretion and can depend on your contract type. Also, an early termination fee will apply and can differ considerably between funders. If you’re considering an early termination, please seek advice from your account manager at GB Vehicle Leasing before proceeding.

Tips To Secure The Best Lease Deal

To ensure you secure the best lease deal for you, here are some tips to consider:

• Review your credit score and explore opportunities to enhance it. A high credit score boosts your chances of securing the most favourable rates for a car lease. Find out more here. 

• Car manufacturers often produce similar models, for example the Kia Sportage is comparable to the Hyundai Tucson. If you’re willing to be flexible on your choice, it’s worth looking into various manufacturers and comparing lease deals for several cars. Also, our leasing specialist are more than happy to discuss alternative cars which could meet your needs.

• Take a look at our special offers or our in-stock lease deals as these are available at highly competitive rates. In stock deals are available for quick delivery which gives you a swift and cost-effective way to get behind the wheel of a new car.

• Consider adjusting the contract terms as this will adjust the costs too. Often by extending the length of the contract or making a bigger initial payment, you can reduce the monthly payments.

• If you’re not in a hurry to receive your new car, consider waiting for a factory order, as this could potentially lead to a fantastic leasing deal. Lead times on a factory order can vary but we’ll keep you updated of the vehicle’s progress regularly.

Contact GB Vehicle Leasing

At GB Vehicle Leasing, we consistently have competitive car lease deals available throughout the year, which means there’s never a bad time to consider a car lease deal with us. Whether it's the beginning of the year or during summer, you can rest assured that our best prices are available at all times, allowing you to lease brand-new vehicle at unbeatable prices, whenever it suits you best.

We understand that finding the perfect car lease deal can be overwhelming with the numerous options available. That's why our team is available to support you throughout the entire process. If you are unsure about which vehicle to choose, what contract length would be best, or which funding method fits your preferences, don't hesitate to get in touch with us. At GB Vehicle Leasing, we pride ourselves on our expertise and personalised approach, and we're more than happy to guide you through the process and help you find the right deal for your specific needs.

No matter your preference, be it a compact city car, a stylish saloon or a versatile SUV, we have an extensive selection of models to choose from. We also recognise the importance of budget when considering a lease deal. We are here to make the car leasing process smooth, enjoyable, and ultimately, get you behind the wheel of your ideal car, van or pickup. So, simply give us a call on 0161 667 5338 or drop us an email to discuss your next lease vehicle.