Moving to university is a tremendously exciting time for many new students. This offers the first opportunity to experience life away from the home and to start learning about responsibility (without the help of mum or dad).
One of the key responsibilities in life, and often biggest headaches, is your car. With many students cost is key. This means that many will opt for cheaper used-cars which, on the surface, seems like the practical route. However, with many used cars being out of warranty, the risk is that the cost you pay to own the car can be dwarfed by the cost for you to run it – annual servicing, annual MOT, new Tyres and occasional fixes!
More and more parents are considering personal leasing options instead of going through the challenges above. By leasing a new car for their son or daughter, they can be assured that their child is driving a new vehicle covered by a manufacturer warranty. Add to that the ability to include a funder-maintenance package, which can incorporate the cost of servicing, maintenance, tyres and breakdown recovery, and you have a secure vehicle solution. As contract hire is fixed for 2, 3 or 4 years, you can organise a contract for the duration of their college or university course.
One point to consider, which often arises for students, is annual mileage. As the monthly rental is fundamentally based around the mileage the vehicle covers, it is sometimes difficult to calculate how many miles the vehicle will cover. This could lead to a situation where the contract is either under-mileage or over-mileage. With contract hire, you will be charged for any miles incurred in excess of the agreed contract (shown as pence per mile). If the car is returned under-mileage, you will not receive any rebates.
If you are a student, or your son or daughter are heading to University, get in touch with one of our team to find out how a personal car leasing deal could make life easier, you can find more info on car leasing for young drivers here. Also check out a range of suitable student and small city cars with economical engines here on our car leasing deals page, read more car leasing help and advice here and also check out some reviews and news here in our blog!