Benefits of choosing a car lease

Buying a car can be very expensive, which is why the opportunity of paying for your car in monthly payments should not be surmised. Just like there is a car for everyone, there is a car lease available to meet every budget.

While the majority of people will not have £15000 to pay upfront for their favourite car, a monthly payment of £150 for example makes buying this dream car much more achievable. Join millions of people in getting a lease for a car. You can now invest this capital amount on something else without the need to leave such a big dent in your pocket.

Luxury cars have now become an option, making leasing a car the better option. That Porsche has suddenly become affordable without breaking the bank.

Convinced? If you are thinking about car leasing it is vital that you understand how the lease will work. Ensure you choose the right deal for you and most importantly your circumstances.

So what is car leasing?

In simple terms leasing a car means entering an agreement with a leasing company which will provide the funds to the customer but not ownership of the car. The customer is able to treat the car like their own and it is their responsibility to maintain the car and ensure it is taxed and fully insured. But unlike other arrangements the owner will never take ownership of the car.

Therefore the lessor or the leasing company will remain as the legal owner and also will be documented as the registered keeper on all documents such as the log-book. Once the lease has come to an end the leasing company can choose to give the owner the option to continue leasing or transfer the car to another person looking for a leasing agreement.

Did you know there are many variations of the term lease and these include finance lease, contract hire or an operating lease, each with their own terms of reference? When signing up to a lease, ensure you fully read the terms and conditions and once again ensure the agreement meets your personal circumstances.

So where do you start in getting a cheap car lease to fully meet your needs and requirements?

This is where the fun part begins, find your car. This can be exciting as with a car lease you can often afford a more luxury car than if you were buying outright. The lease terms are usually for a duration of 2-3 years but this will be agreed with the lease company. Other terms will be agreed such as expected mileage. This will help determine the future value of the car taking into account depreciation.

Once you are happy you are free to start driving your dream car and pay regular payments for this privilege.

Once the agreement comes to an end the car will either be returned or you can choose to continue your lease term. Remember if the car is not returned according to the terms and conditions you may be asked to pay an excess to recover the value of the car.

Have fun shopping for your own Porsche style car!

Author Bio:
Vincent Hill is Marketing Executive at First Vehicle Leasing. First Vehicle Leasing provides best car leasing solutions to all over United Kingdom.