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, with tons of available options these days, being bogged down is so common. As you read this article, you are going to learn about jargon as well as other reasonable tips that can be useful when selecting 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. One of the most notable benefits for choosing contract hire is that, you only need to pay either monthly or fixed rental and most instances, included in the package is repair and service of the vehicle you’ve selected.
It will be a smart move of you to make sure that this is included in any lease deals or offers to avoid dealing with hidden costs. Contract hire is available on a18 to 48 months contract at which time you must return the car to the lender.
Number 2. Choosing personal contract purchase – this particular car lease deal or simply known as PCP is being offered often on 2 to 4 year deal. And so long as you have a good credit rating, you can easily use PCP. 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 the contract agreement, you can pay the car to keep it for good otherwise, you should hand it back to the lender.
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. Just like with other deals, you have to be sure that the service, repair and maintenance are included in the deal and that you are going to return the vehicle before the agreement expires.
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.