Why It Is Good To Opt For A Car Lease Option | Finance Blog
Many people are reverting to a car lease deal instead of purchasing theirs outright. If you are a motor enthusiast and your favorite model comes out every two years or so, then you get to drive the latest one for as long as you have a contract.
To get a car this way is very easy. It means that you rent one from a finance company that has already purchased the car. When the term expires, you have the option of paying off the vehicle or trading it in for a newer model.
The benefits of going this route are plenty. Say you are a small business owner but your car is rather old. You need to make an impression with your clients in order to land those important orders. By leasing the latest model of your favorite car, you will be seen as successful, thereby giving you a change to seal the deals.
An added bonus is the low deposit required. With a normal purchase deal, you would have to give a huge deposit to get finance. So spending your money on a small deposit on a lease option gives you more cash in your pocket to invest some place else.
The monthly payments on the car is much lower than a repayment on a bought vehicle because there is no added interest to the total amount. Leasing a car makes a lot of sense if you have a restricted budget.
Of course, if you can?t wait to drive that latest model, you can opt to trade-in your existing vehicle. You do not have the added headache of selling the vehicle because it is not yours.
Many finance companies offer flexible terms. Most begin at two years, but you can expect to see some contracts to last as long as sixty months, which in effect is five years.
Many businesses also lease their vehicles for those special tax breaks. Buying the vehicles outright, especially if they have a large fleet, does not make financial sense, because the vehicles are going to depreciate by the month. Leasing allows them to claim from the tax man and they do not have to worry about owning old vehicles.
Of course having lots of options available makes car leasing very attractive. You get to drive a new car whenever you want to, your trade-ins are handled by the finance company and you are under no obligation to purchase the car when the lease expires.
By obtaining a car lease, you can drive a new or late model car without the upfront cost of a purchase. Explore the options in styles and models by visiting the website at http://www.lease4less.org.uk/ now.
Source: http://www.financedblog.com/why-it-is-good-to-opt-for-a-car-lease-option.html
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