How Sahamat paid off his new monthly car payment in a week

How Sahamat joined Lease and Share to boost his income with a brand new car

Buying a new car outright with cash, a loan or on hire purchase is a luxury that few can afford. On top of that, with the price of used cars soaring by 30-40% in the last two years, it’s not the best time to be buying a used car either.

Sahamat, from Ilford London, works as a Business Analyst and has been working from home for the past two years since the pandemic began, so he doesn’t use a car often but still wanted easy access to a car. “I was looking into ways of owning a car or being able to drive a car for cheaper, because I had a car before, but everything from repairs, maintenance, road tax and insurance was adding up. Even though it was an old cheap car, it was still quite expensive to run.”

This is why Sahamat decided to join Karshare’s innovative Lease and Share scheme. “I wanted a no deposit monthly payment plan and after doing a bit of research I decided that the best way to do it was by a lease. I didn’t want to have to consider maintenance repairs, so it just seemed the most convenient thing to get a brand new lease. It also means you don’t need to worry about selling the car after three years if you want to change it, because the leasing company take it back - you’ve just paid for the depreciation of the car.”

The Lease and Share process

But how does it all work? Sahamat’s helped to break down the steps that he took to get his brand new car delivered to his door and ready for sharing.

Do your research

Before signing up it’s best to fully understand what leasing a car means and if it’s the right type of car finance for you. “I was looking at different affordable ways to own a car and then Karshare popped up as an ad on Instagram. I also research ‘ways to make money’ a lot as well, which is why I think the ad came up on my Instagram. As soon as I saw it I was really intrigued and interested, so I did some more research and within a couple of days I was like ‘yeah this sounds like an amazing idea and is exactly what I want right now’.”

Decide on a lease payment plan

After submitting a form on our Lease and Share page and finalising your lease details with Jet Vehicle Finance (our leasing broker partner), you’ll be good to go. “I chose a no deposit option, so I pay £264 a month over three years for a brand new blue Vauxhall Corsa.”

A new car is delivered straight to your door

Sahamat’s car was delivered to him around 3-4 weeks after his first chat with a Karshare expert. “I remember being on the first Karshare call when I was on holiday and then 3/4 weeks later I had the car as it was in stock, brand new and delivered.”

KarshareGo technology is installed

If we can’t arrange a time to install the keyless KarshareGo box in the car on the day it’s delivered, we’ll arrange for a key technician to install the kit in your car as soon as possible so that your car is ready for rentals in no time.

“Karshare managed to quickly sort me out with the key collection appointment. A key technician came to my house, fitted the KarshareGo box, explained everything to me and answered any questions that I had. They were really good and efficient with everything!”

You’re ready for rentals!

Once the KarshareGo kit has been installed, your car can be set to live on the platform and ready to accept rentals! Sahamat’s Vauxhall Corsa was on the platform for 7 days and had secured 5 bookings in that time. These rentals generated £330 for Sahamat, meaning his first monthly payment was paid off within a week of putting his new car on Karshare. He’s also noticed that the car can get booked for a rental very swiftly-

“I set my car as unavailable last Sunday, then on Saturday night I changed my mind and set it as available and it was booked by Sunday morning. I woke up and it was gone. Some of the bookings are really quick!”

Why Lease and Share?

“I definitely would recommend Karshare to people because it makes so much sense. I found the fact that Karshare does its own Lease and Share scheme and has a partnership with Leasys reassuring and safe, because with a lot of leasing companies on PCH as it’s not your own car you might not be allowed to rent it out.”

Karshare partner with Jet Vehicle Finance and Leasys to provide the Lease and Share scheme with full sharing permissions on a brand new car. “The Lease and Share scheme seems the most safe because of the connection that Karshare has with the leasing company. I don’t want to feel like I’m having to hide anything from my lease provider, and Lease and Share allows me to be honest which is really good.”

If you’d like to see the range of cars available on a PCH lease, then head over to our dedicated Lease and Share page here and register interest to get started!