Are You Fit to Lease?

The benefits of leasing may be attractive to you. But before you do sign a Car Leasing contract, you should first see to it that you are capable of leasing. Although prices of monthly car leases, as can be seen on the Contract Hire Special Offers of some companies, are very enticing, you should still look at the bigger picture because Car Leasing whether it be Hire Purchase, Lease Purchase or Finance Lease is a finance option much like a loan, thus unlike renting you just cannot return a car you leased if by some unfortunate event you become unhealthy and unable to work or have a steady income.

Furthermore, if you are that person who thinks you would want to end leasing before the car leasing contract ends, then leasing is not for you. Car Leasing contracts are designed to put off early termination. If you do so, you may have to pay all the remaining charges and a termination pay.

Moreover, if you drive a lot, meaning you drive in excess of 15,000 miles a year, then you have to rethink before entering a Contract Hire or Personal Contract Hire arrangement since most contracts will require you to pay a charge for every extra mile you incur.

Another thing to determine is whether you are into customizing or putting modifications in your car. If so, then don't enter into a Personal Contract Purchase or Contract Purchase arrangement, since the car dealer is still the owner of the car, they expect you to return the vehicle as it is.

If you are reckless in driving and take no care of the vehicle, then leasing may be out of the question for you. Like owning a car, you are responsible for repairs, insurance and etcetera. Any damages aside from the normal wear and tear will be charged to you.

These are some of the things to consider before leasing, weigh in the benefits of Lease vs Buy, and decide on the right choice after meticulously thinking it through.