About Vehicle Leasing
It’s well documented that vehicle leasing can be beneficial in terms of finances both for the general public and businesses. On the other hand, it’s easy to be bogged down with the different options available before you. Here in this article, you’ll learn about the jargon as well as other reasonable tips that can be very useful when choosing which contract hire or car lease deal to choose for your needs.
Number 1. Choosing a contract hire – contract hire is basically a vehicle leasing contract that’s so versatile because it works well regardless if you’re a partnership, limited company or sole trader. The biggest advantage for selecting contract hire is that, you’ll only have to pay for monthly or fixed rental and oftentimes included in the package is the service as well as repair of vehicle you’ve chosen.
To be able to avoid dealing with problems like hidden costs, it will be a smart move for you to make sure that this is included in lease deals or offers. The contract hire is only available for the duration of 18 to 48 months contract at which time you must return the car to the lender.
Number 2. Choosing personal contract purchase – otherwise known as PCP, this car lease deal is typically offered on a 2 to 4 year deal. PCP is also available to many interested individuals so long as they have good credit rating. This is almost the same to other types of lease available in that you should settle the initial low amount first and will be followed by fixed monthly payments. At the end of contract agreement, you’ll have to hand the car back to lender of if you want to, you can pay them to keep the car for good.
Number 3. Choosing personal contract hire – almost the same with PCP as this is offered on 2 to 4 year basis and is the best option for business and companies that provide employees of certain stature of personal car allowance. As with most deals, you must be certain that the service, repair and maintenance are being offered as part of the deal and that you’ll return the vehicle prior to the agreement.
When making initial inquiries about car lease, these are only some of the types of car leasing that you should be mindful about. Say for example that you have a bad credit rating or has recently started a new company on the other hand, there are several options that you can try if you wish to lease a car which you might want to inquire like lease purchase, subprime contracts or non-status contracts as well as hire purchase.
Researched here: this post