About Vehicle Leasing
It’s well documented that vehicle leasing can be beneficial in terms of finances both for the general public and businesses. It is easy on the other hand to be bogged down with wide varieties of 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 – basically, contract hire is a vehicle leasing contract that is very versatile as this works well no matter if you’re a partnership, limited company or sole trader. You’ll only need to pay for monthly or fixed rental and most of the time, included in the package is service and even repair of the vehicle you have chosen, which is the biggest advantage for choosing contract hire.
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. Contract hire is offered often on 18 to 48 months contract at which time you must return the car to the lender.
Number 2. Choosing personal contract purchase – known otherwise as PCP, this car lease deal is offered often on a 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. You’ll have to hand the car back to the lender at the end of contract agreement or you can pay them to keep the car for good if you want to.
Number 3. Choosing personal contract hire – much like personal contract purchase, this is also offered on 2 to 4 year basis and is the best option for business and companies that are providing 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.
These are some of the kinds of car leasing that you have to take a look at when making initial inquiries regarding car lease. 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.