Best time to lease a new car
Looking into leasing and wondering if there’s an ideal time to start? Discover the best season to begin your lease with our guide.
Thinking about leasing a car and wondering when to get started? This guide explains what to consider when choosing the right time for your new lease.
Leasing can be a great option at any time of year. It lets you drive a brand-new car every two to five years, without having to worry about the car’s depreciation or a large final payment. You can also upgrade to a newer model as often as every two years. Although there is rarely a bad time to start a lease, you may want to time it around a new registration plate or the launch of a model you have been waiting for.
New registration plates
Many drivers like having the latest registration plate. It makes the car feel current and may coincide with newer technology, features or model updates. New number plates are released twice a year, in March and September. The March plate shows the year, so the identifiers will be ‘27’ in 2027 and ‘28’ in 2028. September plates add 50 to the year number, giving ‘77’ in 2027 and ‘78’ in 2028.
New model updates
Manufacturers often update their cars around the time new registration plates are released. If having the latest version matters to you, leasing around a plate change could be worth considering.
Starting your lease soon after a new model launches means you could be one of the first to drive it. You will also benefit from the latest technology, features and design updates, which can make your everyday driving experience more enjoyable.
Keep your eye out for lease deals over the year
Pre-registered vehicles
At Autotrader, we sometimes have pre-registered vehicles available. These can offer excellent value for money. Dealerships may pre-register cars to help meet sales targets set by manufacturers. Reaching these targets can unlock bonuses or discounts, which may help make a pre-registered car more affordable. A pre-registered car is not the same as a used car. It has been registered by a dealership but has not previously been driven by a customer. There is no fixed rule for its age or mileage, but it will typically be less than six months old and may only have covered delivery mileage. Pre-registered cars are often described as ‘nearly new’ because they usually look and feel much like a brand-new car. Availability is usually limited, so it is worth acting quickly if you find one that suits you.
To learn more, read our guide to pre-registered cars.
Which is the best month to start a lease?
How to get the best lease
The best lease is one that fits your needs, lifestyle and budget. Take time to compare your options so you can choose with confidence.
Make sure the contract is right for you
A lease is a financial commitment that usually lasts between two and five years, with three years being common. Before you apply, make sure the payments are affordable. Remember to include the initial rental and any processing fees, as well as the monthly cost. You should also budget for other costs, such as insurance and maintenance, if they are not included in your monthly payment.
Credit score
Because leasing is a financial product, applying for a lease will involve a credit check. The leasing company will review your credit report before deciding whether to approve your application. Your credit report brings together information about your financial history, including borrowing, repayments and bills. It may also show financial links with other people, such as a partner. Late payments, County Court Judgments (CCJs) and bankruptcy can appear on your credit report and may be considered by future lenders. The leasing company will use the credit check to understand how you manage money and existing credit. It will also assess whether the payments are affordable alongside your income and everyday commitments, such as your mortgage or rent, utility bills and loans. Your credit report can affect whether your application is accepted, but it does not change the advertised lease price. If you would like to check your credit score before applying, several credit reference agencies let you do this, often for free. The three main credit reference agencies are Experian, Equifax and TransUnion.