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Friday, 15 April 2011

The Many Sorts Of Vehicle Leasing Services To Choose From

By Alfonso Hinton


Choosing vehicle leasing is an important decision. Before you sign the car lease, make sure you know all your car leasing options. Looking back at your leasing experience with regret will not be pleasant.

Now that you know you want to lease a car, do you know all of your options? Rising auto costs make leasing a dream for those who like to save and drive new vehicles. Although, car leasing means you do not own the car; it's more like a long term car rental agreement. If you want a flashy new car every four years, vehicle leasing is your best friend.

Closed-end car leases tend to be the most popular type of car leasing options amongst consumers. Close-end leases make it easier for consumers to walk away at the end of agreement. Once your lease is finished without any terms violations, your payments are over. Ways that you can violate terms include racking up extra mileage and causing damage to the car. To make sure that you will have no extra costs at the end of terms, get a great insurance policy and attend to regular maintenance.

Usually commercial clients are those who utilize open-end leases. Be prepared to take a financial risk, if this is your car leasing choice. Usually, commercial companies need a far greater amount of mileage than an individual consumer would need. Open-end leasers must pay the difference between lease value and the actual market value at the end of the contract. If the market value of your car drops significantly, you could lose more money then you bargained for. The monthly payments on this type of lease is usually a little more than a business lease but has less risks involved. Business Leases have many similarities as a close-end lease and an open-end lease. Individuals who would like to utilize this leasing option are told to speak with financial advisors before making a decision. They know the risks and benefits involved and can give you their best advice. If this is the option you wish to peruse after speaking with a professional, you need to find fleet managers. You can find a fleet manager by selecting the car you want and contacting their dealership.

Close-end leases are almost always the smartest car leasing options for consumers. The only risks involved are if you drive over your mileage or damage the car. Consumers can control their mileage and a smart insurance plan will minimize risks.

If you need to drive a lot of miles or you tend to damage your vehicles, no lease may be right for you as an individual consumer, but purchasing cars is almost never a good choice for a commercial application. With all this in mind, the first step to getting the most from your automotive dollar is to be honest with yourself about your driving needs and habits.




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