Car lease finance is a great option for anyone who needs a car for employees or business use, or who lacks the finances to make an upfront payment on purchasing a car for their business.
Numerous however fail to see the point of car lease finance and point out that all that money is essentially ‘wasted’ as they have nothing to show for it at the end of the loan. Of course, everyone hires cars when going on holiday and this makes a lot of sense as a way to have around the area you’re visiting and avoid understanding public transport systems in a foreign language. Leasing a car rather than owning one however is a distinct matter and one that not everyone fully understands as after a significant amount of time they could likely have almost purchased the car themselves. However, this is a rather short-sighted view, as a car lease finance saves a lot of money in other ways too.
With a car lease finance, you save yourself money on tax, on insurance (if it’s a superb loan), and on depreciation. In the event you don’t have much capital to invest in a new car, then chances are you’d likely buy an old car with a lot of miles. That means that you could expect to pay to get a car that has been well used in the past. Add to this tax and insurance (often you do pay insurance, but it’s provided by the car lease finance enterprise and included as one payment for a cheaper price) and you’re looking at up to six months before your leased car has created a dent in what you would pay to get a new car – not counting the cost in the car itself even – and of course none of this money has anything to ‘show for it’ at the end either.
This becomes particularly important when you only require the car to get a short period. Should you just will need the vehicle to get a few months, then you will find that obtaining a car of your own, even second hand, is much more expensive and a lot more hassle and isn’t worth it if you intend to sell or scrap the car at the end in the same period.
A car lease finance has a different bonus too – in that by saving money on not getting the car or paying for the insurance you are going to be able to choose a far nicer and newer vehicle than you otherwise would be able to. Drive around in a Mercedes and you’ll get a lot of looks, and no one will need to know it’s not yours. Of course, when you want to cut the price even more you’ll be able to hire an older car and pay less.
Looking for the best deal on your car lease finance then is important and there are a lot of things you will need to consider before you sign a contract. First of all, make sure that as stated above you won’t be paying any bills yourself. Good car lease finance companies will cover you on the insurance or provide it themselves for a cheaper price and should cover tax and servicing. Of course, you will likely also want to look into the exact vehicles they have on offer you, and if you’re going to be utilizing the car for an extended period you will want to have a test drive to ensure you like it – just as you would with a car you owned.
Of course, you also have to appear into rates and premiums, so check the competition and appear at price comparison websites before you make a decision. Quite a few of these allow you to enter your details and then bring up the most beneficial option for you to ensure that you get a deal that suits you and your budget.