If your main aim is to get behind the wheels of a brand new car model on the market without necessarily having to spend huge sums of money, Contract Cars leasing may be the best way to do it. There are several options to choose from. However there are a numbers of factors to take into account in order to make sure that you strike the best deal.
If you want more information on Contract Cars, this guide is just for you. It gives detailed information on the benefits as well as how it works. Take a look:
The Benefits of car Leasing
First, you don’t have to worry about a vehicle losing its values since you do not own it. Also, you do not have to worry about reselling it when you’re through with it. All you need to do is simply give back the keys when the contract expires.
In addition, you can as well guarantee you’ll drive the latest model vehicle every few years. Plus you won’t have to worry about the vehicle’s warranty that has expired. In some cases, you may be requested to pay a little extra for the car’s maintenance. This way, should any problem pop up; you will not have to worry about looking for cash to repair it.
Other benefits that you will enjoy include:
- You will pay low deposit
- You will also pay low monthly instalments, especially on luxury cars because of strong residual values
- You will also enjoy fixed costs
- Contract hire also means maintenance may be included in your per month contract hire payments
How it works
With contract hire, you are able to select between a broad range of models and manufactures. If the car is expensive, you are also likely to pay a higher monthly payment.
As soon as your agreed contract term runs out, 2 things may happen. You may choose to renew the lease on the vehicle- it is advisable to contact the finance company a couple of months before the end of the contract if they will allow this, & weather it will offer discount on monthly payment since it is not a new car anymore.
Alternatively, you can opt to hand over the vehicle back. If the car is in good nick, & you have adhered to the agreed mileage, then there won’t be anything else to pay. Normally the finance institution will collect the vehicle for free. Again, it is recommended that you contact the company a few months just before the end of the contract so as to arrange for the handover- though the agency may contact you.
In case you have gone over the mileage limit, then you will be required to pay a charge, which is normally between 3p & 10p per every mile, however this can be much more if you happened to lease a premium vehicle model.
Conclusion
With Contract Cars lease, you hire the car for an agreed duration (normally between one and two days) & pay a fixed rental basing on the mileage you’ll cover over the period of contract. It’s a good option if you don’t want to be worried about the vehicle depreciating. It also enables you to drive latest brands on the market.