You Have To Pay A Massive Deposit - Leasing Myths Debunked

In another post in our series of Leasing Myths we look at a common comment we get when we launch a new advert which goes along the lines of I bet there's a huge deposit to pay! This comment is most commonly left by those who have never leased before and don't understand how a leasing initial payment is and how it works. Because of how leasing deals work the way they are advertised can often be misleading as it can suggest that a big initial payment is the only option.

So today, we're going to do two things one, we're going to debunk the myth that leases always have massive deposits and two we're going to explain how a leasing initial payment works.

Do I have to pay a massive deposit for a lease?

So, do leases have to have a massive deposit? Absolutely not! You have the flexibility to choose 4 different levels of amounts to suit your budget (sometimes more but 4 is standard). Want to put less down at the start and pay more per month? Want to put more down and pay less per month? No problem, we can do both.

We believe that the reason this myth has surfaced is because many leasing companies/brokers advertise a headline deal with a large initial payment and low mileage just to demonstrate just how cheap the deal can be. Lower initial payments are of course available, but many may not make it clear on the advert itself many people may not think to ask if the deposit can be lower.

However, whenever we advertise a deal we always make it clear that the price is a headline and that you can get a personalised quote either on the website or by speaking to our account manager. It would be easy for someone who has never leased before to see this advert and assume that all leasing deals are the same. They do say that there is always some truth in every myth!

Our configuration allows you to create a quote from the comfort of your own home. Why not check our special offers today and have a play and see for yourself what deposit you can have?

This myth has potentially warded many people from exploring further as they may not have a large amount of deposit to put down this is disappointing as we feel that a leases initial payment is one of the most flexible of any vehicle finance option and one of the biggest selling points. Leasing has a huge advantage over PCP and HP as generally, the initial payment is less and the monthly payments can also be less, too. Just check our article on leasing vs PCP vs HP.

How does the initial payment work?

We have a comprehensive guide here on the ins and outs of an initial payment. However, to cut a long story short:

An initial payment can be multiples of 3,6, 9 or 12 times the monthly payment.

If the monthly payment is £200 and the contract is 3 in advance then the initial payment would be £600.

If you wanted to put more down at the start to make the monthly payments lower then you can select 12 in advance. If it's a 12 in advance deal and it's £200 a month then the initial payment would be £2,400.

If you change the initial then the monthly payment will change accordingly. The overall cost of the contract remains the same regardless of a low or a high deposit.


We hope this myth can now be classed as debunked as a lease deal does not have to have a large deposit, in fact, leases can have very small deposits if you wanted. Lease deals are very flexible to suit any budget and situations.

Know of any other myths and want them debunked? Why not get in touch. Alternatively, why not browse the rest of our website starting with the car personal lease area.

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