What are the advantages of leasing?
From now on, you no longer need to worry about an auto loan application to buy the car of your dreams. All you have to do is turn to leasing, an attractive solution offered by dealers. What are the advantages ?
Leasing: what is it exactly?
Also known as “leasing” or ” rental with purchase option », Leasing is an offer offered by certain dealers. This type of rental allows the individual or the company to become the owner of the car at the end of the contract. By opting for LOA, the tenant-buyer benefits from many advantages:
• He has a new car and can change regularly during the contract period;
• He benefits from additional services, such as manufacturer’s warrantyauto insurance dedicated to vehicle leasing and maintenance;
• At the end of the LOA contract for a new car, as the lessee has been the sole driver of the car since it was put into service. knows his condition perfectly ;
• The purchase deadline is between 5 and 10% compared to the price of new;
• The duration of the contract is limited to 5 years, but it is good to know that paying a higher amount of monthly rent is advised with a view to a purchase at the end of the contract. Indeed, it influences the residual value of the vehicle at the end of the rental period.
It is possible to acquire a vehicle by leasing without contribution. On the other hand, it is advisable to examine the terms of the offer in great detail before signing the contract. Indeed, the total amount of financing may be higher compared to a purchase guaranteed by a prior contribution. Thus, it is recommended to proceed to an in-depth analysis so that the financial burden is less heavy.
What about the rental contract transfer?
This solution is intended for people wishing to drive in a recent car or regularly change second-hand vehicle. It allows you to benefit from many advantages:
• The used cars made available are generally less than 2 years old and still under warranty;
• It is possible to negotiate with the former tenant for the resumption of the contract;
• The duration of engagement is shorter, typically ranging from 9 to 24 months.
The downside is that the duration of the transfer procedure is between 4 and 6 weeks. In addition, it is recommended to ensure that the mileage established in the contract has been respected by the former tenant to avoid paying additional charges.
The final word
The monthly leasing payments are lower compared to a car loan, but the final price of the vehicle will end up being more expensive. Even on a tight budget, it is possible to become the owner of a recent, new or used vehicle. However, it is advisable to evaluate its payment capacities and to favor payment by check or by bank transfer.
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