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This means you will have the car for the duration of the lease, pay a rental figure on it with the option at the end of the deal to pay a lump sum to keep the car, if you don’t want the car you simply return it to the dealer.
It’s a bit like renting a place, but you have the option to buy at the end. This is a great option if you need to be seen with the right car, need to have a car for work but are not going to start making the big bucks until a few years time this option allows you to have the flashy car but not having to pay a huge loan back until you are earning more money. With car hire purchase, or lease purchase it allows all the freedom in the world.
Imagine the cars that you could have with car lease or hire purchase. You could have any number of luxury cars, from BMW’s, Mercedes Benz, Lexus and Audi to name a few. There are many companies offering this type of lease but of course of it is to you as to what car finance option you go for.
If you planning on buying a new car and do not want to go down the hire or lease purchase route you could always apply for car finance, or a car loan. With this option you will need to make a down payment, we tend to look at it as the deposit, and then you will pay monthly installments to your loan company over a set number of years.
With this option if you do not keep up the repayments they may take the car from you. This type of finance either comes as a loan, say from your bank or building society, or from the dealer or a specialist car finance broker. Please note that this is not financial advice.
Category: Car LoansCar finance Deals - What Option are you going to take? was written by:Author:Spot BiddleAdded: Wed, 25 Jun 2008 05:35:47 -0400 This Article Has Been Read 125 times View all Spot Biddle's articlesAbout the Author: Youngs Chartered Surevyors - The land and Property specialist. Chartered Surveyors in Northumberland,Alnwick, Hexham and Durham Land and Property Consultants. Mancala Technology are specialist in Internet Marketing. |
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