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Leasing explained

Leasing a vehicle on the Isle of Man is relatively simple, you pay fixed monthly rentals over a term agreed and in return you receive a brand-new vehicle that you keep for the duration, and then hand back.

You should view a lease like a long-term rental, or like your mobile phone contract; avoid significant upfront costs and avoid owning a depreciating asset. Instead, enjoy the latest technology and safety features that you get from a brand-new vehicle for 2-5 years and then give it back in exchange for a newer model.

You have complete freedom of choice over your vehicles make, model and specifications (colour, trim, in-car technologies), and your contract is tailored specifically to you in terms of estimated annual mileage, the length of the contract and how you would like the payments to be structured.

The total cost of your Isle of Man lease is calculated based on several factors; the value the car, the cars estimated value at the end of the lease (the residual value), your annual mileage allowance and the length of your lease.

What is the process? 

SELECT YOUR VEHICLE

-Once you know what vehicle you want, contact Rex Leasing or visit www.rexleasing.im for a quote.

FUNDING APPROVED

-Upon accepting the quote, Rex Leasing will submit an application to one of the UK based leasing lenders. Once the funding is approved and the paperwork is signed, Rex Leasing will locate your car and arrange delivery to the Isle of Man. 

TAKE DELIVERY

-Once the car has been located, whether on or off the Isle of Man, Rex Leasing arrange shipping and delivery to your home or office.

SIT BACK, RELAX AND DRIVE.

-Your vehicle is registered and taxed on the Isle of Man and the keys are in your hands. For the duration of the contract, sit back, relax and enjoy your brand-new leased vehicle.

OUT WITH THE OLD, IN WITH THE NEW

-It’s time to hand the vehicle back. With a few months to go, you will be contacted to arrange returning the vehicle. Now is the time to contact Rex Leasing to discuss any future requirements, and the process begins again.

 

Rex Leasing offer personal contract hire and business contract hire to Isle of Man businesses and individuals. Whether it is a van lease in the Isle of Man or car lease in the Isle of Man you are looking for, do not hesitate to get in touch with the team at Rex Leasing.