Leasing
For business or personal use, when choosing car finance it is important to take into account the various finance options available and which finance package would best suit your needs.
Leasing (finance lease):
A finance lease or lease agreement is an arrangement where you are entitled to full use of the vehicle, over an agreed term in exchange for a fixed rental. Rentals are based on the cost of the asset together with the interest cost for the proposed term. Lease rentals are normally paid on a monthly basis over the agreed primary term, usually 3 to 5 years. At the end of the lease, you have got several options:
- You can extend the lease agreement and continue to lease the car at a nominal yearly rental.
- You can buy the car, for what is usually a nominal rental.
- The car can be traded in for a new one.
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