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Vehicle Leasing VS Vehicle Purchase
Posted: Oct 09, 2008 |Comments: 0 | Views: 214 | Share Characters leftRelated Questions
A business purchase agreement had a clause that required us to assume a lease. We found out that the co is not going to be able to renew the lease so the agreement is now void. Can they do that?
Can my son get insurance for one of my vehicles if he is given permission to drive the vehicle? Or, can only the registered owner purchase auto insurance for this vehicle?
Who pays highway vehicle use tax if it is a leased vehicle
Once a vehicle has been repossed does the former owner have the right to remove equipment such as handicap lifts they added after purchase
There are pro's and con's to every aspect of life, and sometimes it is nice to have a helping hand when it comes to making a decision, especially if the advice offered is by a professional or someone who has learned from personal experience. In the minefield of motoring, it can be difficult to decide what car to purchase, or even if a purchase is the best option as opposed to leasing or contract hire. Businesses have different needs from personal usage vehicles; some communities want to establish a car pool and others would like something exciting for the weekend. Here we aim to offer some practical advice on the benefits of vehicle leasing.
Opting to engage in a contract with a lease hire company has many benefits. More often than not, it enables the driver to have a better vehicle than he or she could probably afford. The monthly payments on a leased vehicle are generally lower than those of a loan through a bank or car dealership and the sense of security through a lease agreement outweighs running the gauntlet with buying a car from a used car dealership.
A car under a contract with a hire company will be fully serviced, and if it should develop any fault or breakdown, the lease company is responsible for rectifying the situation. There will be no waiting for your vehicle to be repaired whilst driving a courtesy car; your chosen car will simply be replaced with an identical make and model.
Some people think there is a certain level of compromise when it comes to hiring a car, namely not having a say on the colour or condition. This is simply not true. In fact, it is possible to request a specific make and model and even specify the body colour and interior colour as if you were purchasing your own car. This is not a luxury that comes with purchasing a second hand vehicle. If you are concerned that the money spent on leasing is a waste; a bit like paying rent when you could be paying a mortgage, well think again.
A contract can last between one and three years, and at the end of it, you can either opt to buy the vehicle outright or continue the contract with a newer model. The benefit is that you will have a real chance to give a car of your dreams a trial run; it is a common experience of many drivers to purchase a dream car only to have the dream shattered by the reality of poor performance.
Some people choose to purchase rather than lease as the idea of owning a vehicle for investment, or as a part of a collection is a priority. In reality this is rare. Vehicles worth investing in are generally classics that have a place in automobile history, and generally aren't used as an everyday run around vehicle for taking the children to school and doing a spot of shopping. The reality is that the vehicles that get purchased for the everyday mundane tasks are going to depreciate in value very fast, especially if they are bought new from a show room.
The wise car driver will use his or her hard earned cash to splash out on a dream car that would ordinarily be beyond the budget. Spending a year driving a Porche, followed by a Lamborghini is a decadence that not many could afford to fund from purchase. Deciding to opt into vehicle leasing is deciding to turn ones back on mediocre journeys in mediocre jam jars.
(ArticlesBase SC #596457)
Dominic Donaldson - About the Author:Dominic Donaldson is an expert in the motoring industry.Find out more about Vehicle Leasing and why you could be better of leasing at Amber Vehicle Solutions.
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