A personal car lease is an agreement between an individual and a leasing company. This agreement allows that individual to essentially rent a vehicle for an agreed period for fixed monthly payments. You won’t own the car you lease, and you’ll return it at the end of the term. As you don’t own it, it often gives you access to brand new cars at lower prices.
Leasing means that you do not own the vehicle so you won’t have to worry about depreciation over time or road tax as that’s the responsibility of the leasing company. A leased vehicle is brand new and under warranty for most, if not the entire duration, of the contract. There’s also an option of rolling maintenance costs into your monthly payments too, making a contract hire agreement accessible for many.