Managing your professional and personal life has never been more challenging in today's hectic and fast-paced world, so having your own mode of transportation can go a long way in achieving your daily tasks. Have you been longing to purchase your very own brand new car but don't have the capital to realise your dream? Or perhaps you need to increase the fleet of your commercial cars for your business but don't have the time to deal with all the necessary paperwork? Avoid the hassle that comes with buying and owning a car and give car leasing a go.
What is the difference between car leasing and car renting?
Whereas both leasing and renting a car involves using a vehicle for an agreed amount of time after paying money to the owner, there are distinct differences between the two. Cars are usually leased for between 2 and 4 years so leasing is more of a long-term commitment as opposed to renting, while you'll be expected to pay monthly instalments.
As is the case with renting, once the leasing agreement is up, you must return the vehicle back to the dealer. However, with leasing, you also have the option to either continue releasing the car or you may go ahead and purchase it. Are you interested in buying the car? Here is what to look out for before buying the vehicle. You may also have the option to terminate the lease earlier that agreed, but this comes at an additional cost.
What are the benefits of leasing a vehicle?
Locally car leasing tends to be more popular with business customers since this is a good way for companies to invest in a number of vehicles without the additional costs of having to purchase them. At the same time, for those who have never leased a car, the process might seem somewhat confusing, however, there are a number of benefits you may want to take them into consideration before taking the plunge.
One of the primary benefits is that monthly payments are usually higher when having to obtain a bank loan to purchase a vehicle, while when it comes to leasing, you don't have to worry about paying a hefty deposit. In addition, all documents and paperwork are taken care for you, whilst you can say goodbye to the mechanic. Do you enjoy the thrill of driving a different car model every few years? If this sounds like something you would enjoy, then leasing will allow you to do just that - return the car you've been using for a new model. Lastly, bearing in mind that the vehicle does not belong to you, you don't have to worry about its future value.
On the other hand, when it comes to business clients, leasing will allow you to focus on what truly counts - your business. Leasing companies will take care of the vehicle registration and insurance papers, as well as any servicing and maintenance of the vehicle. Should you wish to, companies can also provide Controlled Vehicle Access (CVA), as well as roadside assistance. Some companies take their services up a notch by also handling any administrative tasks related to the vehicle, as well as taking care of any fines that your staff or yourself may have accrued.
What type of vehicles are available for leasing?
Whether you are looking to lease a car for personal, commercial or executive use, a van or a truck, leasing companies can offer a variety of vehicles.
Small car leasing - small and compact cars are economical and ideal for city driving which makes them perfect for individual clients or busy sales personnel who are constantly out and about.
Large car leasing - in this category you may find larger cars usually leased for management and top executives as part of your company perks offered to these individuals.
Luxury cars leasing - from executive to luxury, high performance, sports and 4x4 cars, these cars are aimed at discerning clients who would like to maintain their status and prestige.
Commercial vehicles leasing - from cargo vans to smaller trucks, commercial vehicles are crucial to the smooth running of your business. In addition, some leasing companies may also have available special delivery cars for companies operating in the food importing and distribution business.
What do companies offer with their car leasing service?
With their customers in mind, leasing companies will do their utmost to offer their clients the best car leasing options at the best value for money. Typically, leases will cover all yearly road license renewals, any servicing and repairs that may be needed, while they also offer fully comprehensive insurance cover and 24 hours breakdown service and replacement vehicle. Some companies may also offer a 30 days EU-wide insurance cover so you can travel across Europe in the comfort of your home.
Have you decided to purchase the vehicle you have been leasing? Here are a few tips on how to keep your car safe in crowded places with limited parking space and here are five essential car maintenance tips that will help you keep your car in tip-top condition.