Car Leasing Deals – Compare The Most Trusted Providers
Car leasing is fast becoming the preferred option to buying a new car. Why? It can be considerably cheaper than to lease a car than to buy outright. It can also means that you can drive a new car that may otherwise be outside of your budget. Finding the right car leasing deal for you goes further than just price – you may have to take into account things like mileage, the car you would like and whether you would like maintenance included – so it’s very important that you compare trusted providers to find the best car leasing deal for you.
How It Works
How Does Car Leasing Work?
Leasing a car gives you the opportunity to drive the make and model of your choice without the large upfront costs that would be required if you purchased the car. Car leasing is usually offered on a 2– 5 lease agreement where you pay a fixed monthly cost to rent the vehicle long term. For those looking to enjoy the freedom of being able to drive a new car without the large financial commitment of buying car leasing can be an attractive option.
Can You Lease a Car With Bad Credit?
Like any other lease agreement, the car leasing company will undertake a credit check to assess your credit rating and your ability to afford the monthly payments. Different car leasing providers will have various thresholds and use different criteria to assess this. However, if you do have a poor credit history, other options may be available to you, such as using a guarantor or applying with a joint applicant such as a family member. All providers will have varying criteria – so it is worth comparing car leasing options with different companies.
Is Car Leasing A Good Idea?
Car leasing might suit you if you like the experience of driving a new car, but do not want to pay high upfront costs to do so. Many car leasing deals also offer maintenance costs such as road tax and car servicing, so some drivers find this preferable than having to budget for these items. Car leasing costs are based on your monthly mileage so if you do expect to rack up a lot of mileage, car leasing might not be as affordable for you.
How Much Is Insurance on a Leased Car?
Car insurance is not included in standard car leasing contracts, so you will need to find an insurer for your leased car. As you do not own the car, you must take out fully comprehensive car insurance on your lease car. Just like any other form of car insurance, how much your insurance is will depend on a range of factors including how many claims you have made, the car value, where the car is parked and all of the usual factors that are accounted for when calculating car insurance premiums.
How is Leasing Different from Buying a Car?
When you lease car, you are hiring the car on a long term basis you will never own the car outright. However, unless you are purchasing car in cash, most buyers of new cars will ‘buy’ the car under either a Hire Purchase Agreement – where a monthly payment is paid over the term and the car is owned outright at the end, or by a Personal Contract Purchase – where a car buyer will pay a deposit with monthly instalments, and option to purchase via a ‘balloon payment’ at the end of the term.
Personal Contract Hire is where you pay fixed monthly payment to lease the car but you don’t own the car at the end of the term. The benefit is that you don’t have to worry about your car depreciating in value, as you just hand it back at the end of the term. The monthly payments are likely to be lower than if you were purchasing the car, allowing you to choose a car that may be out of your budget if buying.