6 Month Car Rental

Why does the act of getting a vehicle lease have a certain appeal? Unlike buying a vehicle, you don’t have to pay for the entire cost of the vehicle, plus interest, if you have a loan.  If you cannot afford higher payments, leasing can be a great alternative to buying a car or other vehicle. Instead of paying for financing on the entire vehicle, all that is paid for is the time that you spend using it.  This is why people who want a leased vehicle need to consider four factors before they sign any car lease in the UK.

• Look at the total payment. This includes the capital cost reduction or down payment and any additional fees that veteran car lessees or first-time lessees should keep in mind.

• Crunch the numbers. Can you afford those monthly payments, plus make the rent on time? Sometime, the lease monthly payments may be lower if leased longer.

• How many months is included in your lease agreement?  Naturally, a leasing company will look at your credit. You could pay higher monthly payments if you have so-so credit or worse, poor credit. Poor credit may mean you cannot secure a car leasing agreement.

• Will additional fees written into the cost of the lease agreement affect the price of the car lease, overall? There are important questions to ask before you find yourself with a leased vehicle that you must quickly return due to not being able to afford it.

Signing closed-end leases gives you the Advantage

Customers who are new to the lease agreement contract may not realise signing a close-end lease give you an advantage. This makes a car worth less at the end of the leasing period than it was when you signed the lease. Many times, the leasing company simply absorbs the cost, instead of you having to absorb part of the cost. This is why a closed-end lease is helpful. But, do read all the fine print before signing. It is better not to be surprised when entering into a lease agreement in the UK.

While open-end leases are used for commercial customers in most cases, there are residual open-end leases offered by leasing companies. Why do closed-end leases offer residential customers an advantage? Customers are not left paying the difference between the residential value and the actual market value of the car. If a vehicle on an open-end lease has been driven long distances and has high mileage, it may rise the amount you pay monthly.

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