Estimated Time to Read: 2 minute

The leasing of a car can sometimes be a far more cost effective way of travelling around, whether this is to and from work or even with the family. Many people also prefer car leasing as it allows them to drive the newest models of their favourite cars such as BMW’s or Mercedes-Benz. Car leasing can sometimes be a bit of a minefield though, so we have compiled this guide so you can make sure you are making the best decision when it comes to your vehicle.

How Does Car Leasing Work?

Leasing a car isn’t too dissimilar to renting a house really, in that you decide which vehicle suits you the best before you sign a contract to pay a monthly fee to your chosen provider. At the end of the contract, you hand back the keys and the car or van to the owner. It is different from car hire in that you aren’t just borrowing a vehicle for a day or a week – car leasing usually occurs over a long period of time such as two years or more commonly, three.

Car Value

A particular advantage of car lease deals is that you do not have to be concerned with the car losing its value over time. It can often be frustrating when we splash out the cash on a new car only to see that it is out of date within months. Similarly, warranty isn’t an issue either as for a small fee – leasers can ensure that they are always covered for maintenance.

Choose Your Make and Model

When leasing a car, customers can often choose from pretty much every make and model they want. This can be a particular advantage if individuals have their heart set on a new car of a particular type or style. For instance, a young bachelor may be on the lookout for a cool new sports car whereas a mother of three could be looking to lease a people carrier.

How to Pay

When signing a car lease contract, the dealer will sometimes set a maximum mileage limit for the length of the terms. This is because the value of the car will depreciate the more you drive. Then, payments will be taken on a monthly basis from your bank account by direct debit as agreed at the start of the contract. For more information, customers can contact some of the car lease specialists that can be found online.