Convenience of Car Leasing
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Some people like to drive the latest cars and do consider
their automobile choice as a symbol of their status. But unless you are a super
rich person than buying a new car with the latest technology is not always
affordable. And talking loans for cars mean counting the endless interests. To
solve the problem you can go with personal
car leasing. Though it seems to be a little bit complex procedure but
it really works in practice. You can lease a latest car for 2-5 years, and then
at the end of the time you can return the previous car and lease a new
Personal car leasing is really affordable because you do not pay the whole amount of money, rather you pay the portion you are enjoying. In addition you do not have to worry about the growing interest rates. Again if you buy a car then after 2-4 years its warranty period will come to an end. But instead if you lease a car then the car you will be driving is always under a warranty. Plus you will be provided the roadside assistance for free in the case of a car break down or running out of fuel.
Another advantage is that you will be charged according to
your mileage. There are 3 types of lease- low, medium and high mileage. If you
take loan to buy a car you will have to pay the same installment even if you
drive little. If you take a car on lease and drive a lower mileage then you
must inform the firm and take a lower mileage package. It means you will face a
higher residual value at the end of the contract, so you will have to pay a
lower monthly rate.
If you do not intend to buy the car at the end of the agreement then it is a good option for you to take a lower mileage package. But if you know that you will drive more kilometers then go for the high kilometer package because obviously you do not want to count the fines. Speaking about the fines the leasing firm takes 4 to 7 cents per kilometer as fine if you exceed the mileage. This extra money can leave a dent on your wallet. But if you be a little careful then the flexibility of personal car leasing makes the whole procedure quite easy.
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ABOUT THE AUTHOR
Nick Lewis writes for a personal car leasing specialists: Eagle Oak. Eagle Oak are a professional and cheap car leasing company.