When Is The Best Time To Lease A Car?
The best time to lease a car is soon after a new model has been released, as this is when a car’s value after depreciation is highest. This means that you’ll pay less in monthly payments for a vehicle over the course of a lease agreement.
With the global semi-conductor chip shortage causing issues with new stock, now is a good time to look at leasing. This is because car leasing comparison websites such as Moneyshake work with the UK’s top providers to find you the latest vehicles that are in stock and ready to be delivered in as little as four weeks.
Want to find out when else you could save money leasing your ideal car? Discover all the times you should consider a car lease in this guide.
Which is the best month to lease a car?
Although new cars are released at lots of different times throughout the year at the discretion of manufacturers, many are launched in line with the March and September registration plate updates.
These two months are prime time for car sales as drivers scramble to get their hands on a model with the latest plate.
Because leasing funders need time to accurately calculate the residual value of brand-new cars, this price will often be inflated at the beginning. This results in lower monthly lease payments as the estimated depreciation of the car is much less.
Special offers are available all-year round
Dealerships and leasing companies offer year-round incentives on cars to meet monthly sales targets. These come in the form of special offers, which are discounted deals on the most popular models available. What’s more is that a special offer will usually be on a well-equipped version of a car, so you’ll get more bang for your buck.
We recommend keeping an eye out on car lease deal comparison websites such as Moneyshake to see bargain offers from multiple leasing providers in one place. Each month a new set of special offers will be added on different models than previous, so you can always find a great price on the most sought-after vehicles.
Consider leasing in the winter
The car industry is known to be particularly quiet during winter, especially towards the Christmas period when people try to cut spending in order to save for presents. However, this can often be an opportune moment to find a great deal on a lease car as funders try to encourage an uptake in leasing by reducing prices.
At a time where less people want to visit dealerships or shop online for a new car, if you know you need a new vehicle you should look around to see what bargains there are to be had. Because leasing allows for flexible initial rental payments, you won’t have to worry about leaving yourself without festive spending money either.
Black Friday and Cyber Monday leasing
Just like any other online retailer, car leasing companies look to capitalise on annual sales events such as Black Friday (27 November 2020) and Cyber Monday (30 November 2020) by offering reduced prices on stock.
You should do your research when it comes to looking at car lease deals on these days to make sure that the agreement has the right terms for you. Sometimes you could see a leasing company advertise an amazingly cheap monthly price for a car, but it may be on the condition that you pay a large deposit, have the car for four years and are limited to an annual mileage of 5,000 miles, for example. So, be sure to choose your preferred contract terms first to get an accurate quote for what you’ll be paying each month for the vehicle.
5 best cars to lease right now
Are you coming towards the end of your current lease deal, or need a new car ASAP and can’t wait for ‘the best time’? Fear not! We’ve put together a list of the five best cars available to lease right now.
- BMW 1 Series (from around £240pcm*)
- Ford Focus (from around £189pcm*)
- Volkswagen Golf (from around £219pcm*)
- Ford Puma (from around £199pcm*)
- Nissan Qashqai (from around £193pcm*)
*Prices updated October 2021
Ready to lease a new car? Moneyshake saves you time and money, simplifying your search for a brand-new vehicle.
Do you want more tips on how to finance your car? Check out our other car finance guides for the latest information.