Car leasing deals are increasingly becoming a more attractive alternative to purchasing a vehicle. When leasing a car, you are in essence renting the vehicle, and pay a fee each month.
Eventually, after a set amount of time -determined by a contract, the car is returned to the company that leased it. If you want to keep the car however, you can purchase the vehicle at the end of your lease’s term. Usually at a price that is agreed upon when first signing the terms (also known as the residual value). This is important as the monthly repayments you’re required to pay will be based on the difference between the selling price, and the residual value
Some of the perks of leasing a car are the fact that you do not have to worry about the future value of your car or it’s depreciation, likewise you don’t have to worry yourself about selling it once your contract is finished. Maintenance costs and road tax can also be included in the lease, making everything a whole lot easier.
Business Contract Hire can be especially advantageous for businesses as they negate the need to buy staff members a car, and are highly cost-effective. The monthly repayments can actually be up to 55% cheaper than the repayments on a car loan, and on average the deposit is considerably less than when buying outright.
Some people will always prefer to buy their new car outright, but for those who wish to have a new model every 2 to 4 years, and who have the desire to perhaps drive away in a vehicle that would normally be out of their price range, car leasing is a very exciting opportunity.
Information provided by www.Askaprice.com, specialising in supplying the UK with the best advice and prices for those looking to buy a new car, visit our site today and grab yourself a deal on your next car.