About Vehicle Leasing
For both the public and businesses, it is well documented that vehicle leasing can be financially beneficial for them. It is easy on the other hand to be bogged down with wide varieties of options available before you. By reading this article, you are about to learn the jargons and other helpful tips that can be useful when deciding 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. 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 – 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. 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. 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.
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.