All You Need to Know About Car Leasing UK
Are you in a need of a car but don’t have enough cash to buy one? You can try taking a bank loan, but it might come with usurious interest rates. The best solution might be to get a car leasing UK deal! Basics of Vehicle Leasing You can think of car leasing UK as renting a vehicle for a certain period at a fixed fee. Rather than paying the full price for the car, you just need to pay for the time you’re using it. This makes vehicle leasing a much cheaper variant than purchasing a car. Unfortunately, this also means that once the lease period is over, you need to return the car. Alternatively, you can pay the residual value and become the car’s owner. Choosing the Right Leasing Deal As vehicle leasing is becoming more and more popular, different types of lease deals are starting to emerge. First of all, they differ according to the amount of money you need to pay for a lease. You also need to pay attention to the minimum length of the lease, which is usually between two and five years. The lease deals also differ according to the fees and penalties for early termination. Some dealers offer flexi-lease deals, which will provide you with a choice every few months whether you wish to extend the deal or hand the car back. Some deals also come with specific requirements such as the maximum number of miles you can drive per month. The dealers also often include clauses such as the acceptable level of wear. If it’s exceeded, the lessee might need to pay a penalty. Of course, there’s also a type of lease which comes with no such conditions. The so-called contract hire vehicle lease includes all the maintenance of the vehicle, not counting the insurance and fuel expenses.
Published on Mar 9, 2018