Vehicle leasing, either by individuals or businesses
, is becoming increasingly popular as a means of securing access to quality vehicles with consistent and modest monthly payments. For those considering going down the vehicle leasing route it is worth looking at the various schemes available. Vehicle leasing can be an excellent cost cutting measure if you're looking for a vehicle, and one you should really consider.
The most well-known vehicle leasing plan is contract hire. This involves paying a monthly fee over the contract period and returning the vehicle after the contract period is over. The monthly payments are based on a pre-determined level of depreciation and will include restrictions on annual mileage.
For those who might like the option of buying the lease vehicle there is contract purchase. At the end of the vehicle leasing agreement, the car or van can be either returned to the leasing company or ownership can be transferred to the customer for a price agreed at the outset of the contract. This can be a useful option if the customer believes the vehicle to be worth more than the pre-agreed purchase price.
Lease purchase and finance lease are options for those businesses who would like to commit to purchasing vehicles at the end of the lease period. This can be a sensible option should a business wish to defer payments because of cash flow issues. Whether lease purchase or finance lease is the better option will depend on the business financial status and tax benefits of each scheme.
At Lease4Less we can provide unbiased advice on the most suitable vehicle leasing options for both private and business users. If you"re thinking of considering vehicle leasing for your business as a cost cutting measure and would like to see the range of vehicles we have on offer, visit our website today.