Owning a car may be an exciting dream come true, but can come along with so many responsibilities that you might be unprepared for. This is one of the grounds where leasing finds a foothold. Car leasing takes away those burdens that owning a car would naturally heap on your shoulders. Check out company reviews about car services to know more.
What is a Car Lease?
A car lease simply means being able to use a vehicle of your choice through a signed contract where an agreed monthly remuneration is paid by you to the dealer for some time. This continues until the end of the contract where the car is returned to the dealer.
Car leasing often comes with an option of purchase. But if this is not stipulated in a contract, you’ll have to return the car at the end of the contract expiration. There is also a set distance limit which you can drive. This can be determined by the customer but will incur a higher fee. Maintenance isn’t much of a problem as most new cars come with a warranty. However, you can check this car service article for maintenance tips.
Merits and Demerits of Car Leasing
Differences between Car Lease and Car Rental
The major difference between a car lease and a car rental is that the former is more of a long-term deal than the latter. A car rental contract can exist for as short as a couple of hours, but a car lease contract can run for months and years.
Car Lease in the UK
Car leasing is available in most parts of the UK, both for businesses and personal use. Companies usually make car leasing provisions for some or all of their staff. The costs of such contracts are significantly covered by the companies and not the individuals.
Electric car lease is also on the rise as a means to curb the menace of carbon emissions in the atmosphere.
Short-term Car Lease
Although car Leasing usually exists as long-term deals, provisions are often made to cater to short-term car lease deals. A short-term lease called “Flexi-lease”, allows an individual to run a 3-month contract period with an option of an extension at the end. You can read about AnyVan and EasyRentCars, two companies that offer car leasing services.
How to Lease a Car
Leasing a car involves many processes among which arriving at a price is key to the contract agreement. Below are some important terms you should know.
A car lease affords you the chance to use brand new cars which you may not be able to afford in reality. This flexibility takes away the burden of ownership.