Getting To The Point – Vehicles

Types Of Vehicle Leasing You Should Know

It is deemed that vehicle leasing can be very beneficial in terms of finances for both the public and businesses. On the other hand, it’s easy to be bogged down with the different options available before you. By reading this article, you are about to learn the jargons and other helpful tips that can be useful when deciding which contract hire or car lease deal to choose for your needs.

Number 1. Choosing a contract hire – no matter if you’re a partnership, limited company or sole trader, this contract hire will probably do fine, which makes it very versatile. One of the most notable benefits for choosing contract hire is that, you only need to pay either monthly or fixed rental and most instances, included in the package is repair and service of the vehicle you’ve selected.

It will be a smart move of you to make sure that this is included in any lease deals or offers to avoid dealing with hidden costs. Contract hire is offered often on 18 to 48 months contract at which time you must return the car to the lender.

Number 2. Choosing personal contract purchase – known otherwise as PCP, this car lease deal is offered often on a 2 to 4 year deal. PCP is available to a number of interested individuals as well so long as they have good credit rating. This is almost the same to other types of lease available in that you should settle the initial low amount first and will be followed by fixed monthly payments. You’ll have to hand the car back to the lender at the end of contract agreement or you can pay them to keep the car for good if you want to.

Number 3. Choosing personal contract hire – this is also offered on a 2 to 4 year basis much like personal contract purchase and is the best option for business and companies that provide employees of certain stature of personal car allowance. Just like with other deals, you have to be sure that the service, repair and maintenance are included in the deal and that you are going to return the vehicle before the agreement expires.

These are just some of the different kinds of car leasing that you should take into mind when making initial inquiries regarding car lease. On the other hand, in the event that you have just recently started a new company or has a bad credit rating, there are other options available if you would like to lease a car that you may want to inquire about including lease purchase, subprime contracts or non-status contracts as well as hire purchase.