Car Leasing: Pros and Cons

By: Jayden Jethro

The process of hiring a car for a specified period of time and a fixed mileage is called car leasing. UK has a whole lot of Car leasing companies. These companies provide new as well as used cars for hiring. The customer has to pay the lease amount as monthly installment to the company. Budget may be the main factor that refrains one from using one's favorite car. But the main advantage of car leasing is that it will take you out of the budget limitation hassles. Your budget is likely to be the main factor that prevents you from using your favorite car. Car leasing thus helps you realize your long cherished dream. There are different lease options such as personal lease for personal use, and business lease, which is VAT recoverable for business use.

Also, there are options to purchase the car after the lease period.

Now about the things to be considered in mind while taking a car on lease... The lease period is usually 18, 24, 36 or 48 months. A wide range of different model cars would be there with the car leasing companies. It is always advisable to take a car with good residual value at the end of the lease period. Thoroughly and carefully consider all the clauses in the car leasing agreement before getting into one. There would be penalties for early settling of lease and extra mileage used. The wear and tear that occurs during the lease period and any modifications done during the period should be borne by the hirer. So it's very important to study the lease agreement put forward by different companies. Always make it a point to choose the one that best suits your budget.

Thus, car leasing is an option that lets you have your favorite car with minimum budget and minimum risk. The hirer, if cautious in selecting a suitable company with a suitable offer most ideal for his needs, would be having the highest satisfaction of motoring on the roads of UK.

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