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When it comes to a new car, you have
to ask yourself do I buy or do I lease? Leasing is an
option of car financing that used to be only available
to companies and not individuals, but nowadays there
are quite a number of financial institution that are
offering this service.
Leasing a car means that you never own it. It
always belongs to the leasing company so that you
really have to keep it in tip top condition. If you
don't, you may be hit with a big charge at the end
of the agreement. It is the same with mileage, if
you think you are going to do a lot of mileage,
over 10,000 miles per year, buying maybe a better
option as the charge per mile over your agreed
limit will be very expensive.
This also means that you cannot alter it in any
permanent way. No big stereos or speakers built
into the back. Your CB will have to be a portable
one so that you can easily remove it and no custom
paint jobs either.
One of the perks to leasing is that you can
often buy the car at the end of the lease period.
If you don't buy you may well have the option to
keep leasing but at a lower monthly rate. These are
important clauses that you have to be sure are in
your agreement before you sign up or at the end of
the lease you have to hand the car back.
When you sign up to lease a car, you really are
committing yourself for three years as leaving
early will mean penalties, such as having to pay
for the entire three years no matter when you give
up the car.
One advantage of leasing, although more
expensive, is the all inclusive deal whereby all
servicing, tyres and spares are covered by your
monthly fee. This means that you never have to
worry about your car at all.
So if you do not mind never owning a car,
leasing could be for you. Lets face it, having a
new car every three years cannot be bad can it?
Car Leasing, The Smart Way To a New Car? by
Ian Richards
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