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Why Everyone Wants Personal Car Leasing

May 6, 2008
Car leasing is a finance option for a vehicle that enables a person to afford a vehicle and pay a monthly fee for the use of a vehicle. It is similar to car hire in that the car does not become the property of the person that leases it. It is however different in that it is typically offered over a longer period of time.

Car leasing contracts tend to operate over 12, 24 and 36 month time periods and generally the longer the period of time the agreement is set the lower the monthly costs are. It is an incredibly popular option for businesses that want to finance a company car as it can make the costs of running a vehicle much more visible. It also has a number of tax benefits for businesses. But as well as being a popular option for businesses to finance their company car it is also a great option for personal users that want to run a car without having to pay out the full fee to purchase it.

For people that want to get their hands on their dream vehicle personal car leasing is a great option. It enables the person that is leasing the vehicle to manage their monthly payments effectively. Because leasing deals require a small deposit and a monthly fee they can be managed easily with the person that has a leasing arrangement able to predict exactly how much they will spend per month on their vehicle. Leasing often includes insurance and most leasing companies offer the possibility of adding breakdown cover to the deals that they offer.

As a result it is a fantastic option for people that are concerned about their vehicle breaking down and those that don't want to be hit with unexpected costs. It also has the great benefit of not being affected by depreciation in valuation costs that are often associated with car purchase.

Car leasing has a few major benefits over purchasing a vehicle. The first of these is that someone that wants to run a vehicle does not have to pay out the cost of ownership. This means that they do not have to have a large lump sum of cash before they benefit from their vehicle and they also do not have to take out an expensive loan. The second major benefit is that because the vehicle is never the property of the person that leases it they can return the vehicle at the end of the contract and exchange it for a different vehicle.

This obviously avoids depreciation and the complications of selling a vehicle on. Leasing also often works out cheaper per month than car loan repayments. This is because loans are generally quite expensive and the monthly fees for leasing are less. This does of course mean that the person does not own the vehicle at the end of the contract. The major benefit of this lower cost is that you can often afford a vehicle that is better than you might ordinarily have been able to afford.

Because at the end of the deal the person that leases the vehicle simply has to return the vehicle it is a great way of keeping up to date with the latest vehicle. This can mean that you get a new vehicle every couple of years and benefit from the comfort and reliability that this offers.
About the Author
Shaun Parker has been at the forefront of the car hire and personal car leasing industry for several years. He has arranged finance for hundreds of satisfied customers.
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