Short term car lease uk
Short term car leasing UK
Whether you are looking for a Maserati or a Mazda, everyone loves driving a brand new car. However, very few of us can simply purchase a new vehicle with cash. Therefore we have to look at other options. A popular option with both business and personal customers nowadays is car leasing (also known as “contract hire”). Short term car leasing, for the purposes of this article, can be defined as any lease period of less than 12 months. The most common short term car lease periods in the UK are 3 months or 6 months with 12 months being the default or standard option for most leasing companies.
There seems to be an ever increasing number of car leasing companies in the UK offering both business and personal car leasing options, particularly online. So how does leasing work and which company should you choose?
The basic concept behind a short term car lease is pretty straightforward - you simply make an agreed monthly payment over a 3 month, 6 month or 1 year period for the use of the car, but you never actually own it. At the end of the lease you have a choice of either handing the car back or to take out a new lease. The new lease can be on the same car (i.e. keeping original vehicle) or on a new car. Some companies will also offer the option of purchasing the car at end of lease period - this can be worthwhile option as you will know the car inside out and in effect you have just had a 3 - 12 month extended test drive!
The main advantages of leasing as opposed to a straight purchase are that a) you can change vehicles on a regular basis without the hassle of buying and selling b) it often works out cheaper over a short term when you factor in costs such as depreciation. c) you get a full manufacturers warranty - lease cars are invariably under 3 years old so you will always have the protection of warranty. Realistically for most of us, a short term car lease is the only way we can drive a brand new car!
Bad credit car leasing UK
There are U.K. car financing companies who actually specialize in helping people who are classified as bad credit or non-status customers. These leasing companies realise that credit problems can happen to anyone and have schemes to assist you in leasing a new vehicle.
Before doing business with a car leasing company it may be a good idea to check out if they are listed with the Financial Services Authority as an authorised company, you can check them out here http://www.fsa.gov.uk/register/home.do
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so short term leasing is kind of like renting the car for 6months? or whatever duration you choose?
Comment by Askaprice | 05.9.2011 | 11:29 am