Leasing a Car Explained

Leasing a Car Explained Many people buy their cars, either hire purchase or with cash. But there's also the option to lease a vehicle. This happens more with businesses that offer company cars to employees. But car leasing can also seem like an attractive option for individuals, since it requires no deposit - however, you will be asked to pay a fee generally equal to the first three months' rental. Types of Lease An operating lease, or contract hire, means that the car is hired for a fixed period (between 18-60 months), and a fixed rental is paid, based on the anticipated mileage to be used. It can come with or without a maintenance agreement. At the end of the lease the vehicle is returned to the finance company, which re-sells it. As much as 100% of the cost of ren View the rest of this article