Not everyone can commit to a 2 or a 3 year car lease, but is there an option to lease a car month by month? Is it actually called a car lease and what are your options?
There are many options where you can lease a car on a 1 month car lease or a month to month car lease, but not every leasing company offers these short term options.
They may also be called different things such as;
- Short Term Car Lease
- Flexible Car Lease
- Car Subscription
- Flexible Car Subscriptions
- Flexi-rental Car Subscriptions
- Monthly Car Lease
- Month-to-Month Car Lease
- Flexible Leasing
- Long Term Car Hire
- Long Term Car Rental
So you can see now why its so difficult to track a month-to-month car lease down when searching for companies on the internet. But you do have more and more options these days, so let’s take the options above and try and break these down for you.
It doesn’t matter if these are dressed up as flexible car subscriptions, car subscriptions or flexi-rental car subscriptions, they are more or less the same thing.
A Car Subscription works on the Netflix model, you take a car out for a period of time, some include rental, maintenance, roadside assistance and road find licence, some like Drover even offer insurance with their monthly payments.
You then have the option to pause, upgrade or downgrade without the hassle. There are a number of companies in the UK offering this business model and works great for many people and businesses.
Long Term Car Hire/Rental
Does what it says on the tin, you commit to a longer period of time such as 28 days or 90 days to get the best rates. Using a long term car rental can work out significantly cheaper than using a daily rental company over the same stretch of time.
Usually if you are a business and have a fleet policy, you can save even more by adding the new hire car to the insurance. Plus minimises excess payments, should your employee have a bump.
Short Term Car Leases
These can be dressed up as Flexible or Fixed programs, the latter is usually available on 3, 6, 9 or 12 months, with some short term car leasing firms offering contracts in-between. Beware, these cannot be extended or reduced without a penalty.
Flexible, more or less falls into the other categories. You agree a minimum period to get the price and you run that car until the car reaches its maturity age or you need to send it back.
Short Term vs. Long Term
Short term car leases and month to month car leases are mostly going to be more expensive than 2, 3 or 4 year contracts. The company has to take a bigger hit on the purchase price and the residual value.
Occasionally, you will find that by the time you take the initial payment into consideration, the short term option is a viable option. It has also happened recently where cars such as the BMW X5 and the Audi Q5 is cheaper on short term car leases than tradition 2 or 3 year contract hire.
So the answer is quite simply, yes you can lease a car month-to-month!
Companies that offer Month-to-Month Car Leases
There are a number of companies that offer month-to-month car leases, these include:
- Drover — Car Subscriptions
- Cocoon Vehicles Ltd
- Short Term Car Leasing Ltd
- Flexigo Cars
- Subscribe & Drive
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I live and work in Belper, Derbyshire with a love for writing and cars. I write these articles based on that I know the industry and own Cocoon Vehicles which offers similar products and services.
I love to hear from other people and their comments and will reply where I can.