Another addition to our car rental partners’ fleet, Enterprise (at Leigh Greater Manchester), which we had the chance to review – the Ford Fiesta.
As the UK’s best-selling car (which it has been year on year), the new Fiesta is an ever-popular car. Appealing to both younger and older drivers alike, Ford do seem to have established dominance in the small hatchback segment. With an array of specifications including the Active, B&O special editions, Zetec, St Line, Titanium and ST options, Ford have produced a car which is suitable for a wide-ranging audience. While there is top competition in the form of the Peugeot 208, Seat Ibiza, VW Polo and Skoda Fabia, it doesn’t seem that anyone is knocking Ford off their top spot anytime soon?
Where the Fiesta is an ideal car is for first-time and young drivers. This is a question we do get asked very frequently at CarLease UK – can a young driver lease a car? Are there age-restrictions for leasing a vehicle? Contract hire is a credit-based product and this means that you must be aged 18 or over. It is not possible for anyone younger than this to make a credit application or form part of the credit application process. Once you are 18 you are, in theory, able to make a credit-application. However, what young drivers need to appreciate is that a leasing arrangement is a long-term and serious undertaking – the car will be organised on a 2, 3 or 4 year contract.
Additionally, as we operate in a “prime-credit” segment, this means that your application will be reviewed very closely by the underwriter or an underwriting system.
What details are needed for a car lease application? As part of our underwriting process, we will ask for the following info:
· Full name;
· Date of birth;
· Email address;
· Telephone number – mobile and home;
· 5 year address history;
· 3 year employment history; and
· Income and expenditure.
The main issue with younger people is that they have very little credit history. Credit reference agencies, like Experian and Equifax, will help you to understand exactly what finance companies will see when they perform a search on you.
Make sure that you run this Experian report first and then try to make adjustments which will help you in the long-term.
This might include adding yourself to the electoral register at your home address (whether or not you live with a parent or guardian), undertake credit on a less sizeable product like a mobile telephone and ensure your approach to money is practical (do not spend more than you earn). The reality is that many younger people, particular under the age of 21, will struggle in practice to lease a car purely on the basis that they do not have enough credit history.
What does this mean for younger drivers? There a couple of options to consider. One is that they buy a used vehicle with a limited form of finance in order to build up their credit profile. In doing so over a 3 year period, this will show to a finance company that the individual is capable of satisfying credit obligations. Alternatively, a limited number of finance companies will allow either a joint application or a guarantor to lease a new car. This is available in limited scenarios only. In either case, the young driver will need to:
· Obtain express permission from the guarantor/joint hirer;
· Ensure the joint hirer/guarantor is sufficiently connected to them – they MUST be a parent or guardian;
· Be under the age of 21. Some finance companies allow this to be 23 (but no older);
· Live at the same residential address as the parent or guardian; and
· Ensure the parent/guardian has positive credit.
Carrying out the above is not a small undertaking and we need to speak to both parties involved in this arrangement to ensure that the full extent of this is understood. For younger drivers looking at a new lease car, the most important thing is that they do research on this first before getting carried away with cars/prices/colours, as we (or similar leasing brokers) need to ensure credit is available.
In terms of the car shown here, the Ford FIESTA HATCHBACK 1.0 EcoBoost Titanium 5dr (Manual), this is based on the following configuration:
· Metallic – Moondust silver
· Cloth – Ebony
· 16″ 10 spoke alloy wheels
As standard the car includes keyless start with power button, 16” alloy wheels, cruise control, SYNC 3 navigation, Apple carplay, halogen projector headlights, Quickclear heated windscreen, rain sensing wipers, rear privacy glass, tinted glass, front/rear velour floor mats, Bluetooth, body coloured externals, electrically heated and adjustable door mirrors, DAB radio, automatic headlights, LED night signature lights, cornering lights, 3-spoke leather trimmed steering wheel, ambient lighting, driver assistance pack, MyKey system, 60/40 split folding seats, driver seat lumbar support, immobiliser and a Thatcham cat 1 alarm. In term of additional factory options consider – rear parking sensors, the 14” steel spare wheel and the drive assistance pack. Alternatively, consider the sporty ST Line or nicer Titanium X.
On the technical-side, company car and business users can note the P11d at £18,590.00 and CO2 at 110g/km. The 998CC 6 speed manual engine delivers 58.9 combined MPG (EC), 49.6 combined MPG (WLTP), 0-62 times of 10.6 seconds and 100ps. The service intervals on a petrol Fiesta are every 24 months or 18,000 miles.
So would you select the Fiesta as your next leasing option? Or would you choose one of the great options noted above?
Find the best lease deals online for the awesome young driver (and older driver) friendly Ford Fiesta @CarLease UK – or – check out more small car lease deals below.
