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What are the specifics of leasing a car?
In the spring I am thinking of trading in my 2004 Hyundai Elantra (which is in good condition and doesn't have any problems whatsoever,) and leasing a new 2011 Hyundai Elantra, since I don't have enough money to pay the full amount of the car in one shot. So the thing I want to know is, are there any restricions that go along with leasing a car? Such as the amount of miles I can drive the car? Any answers would be helpful
2 Answers
- Anonymous1 decade agoFavorite Answer
Read the contract. It will tell you all you need to know about YOUR lease.
Things to consider with a lease.
1. It will have a mileage limit. Go over it and pay large fines.
2. Damage the car and you will be paying to fix it.
3. When the lease is done you have no car to show for all that money you gave them.
4. Sometimes they have requirements that you need to follow their maintenance schedule. You should do this anyways but many people don't.
Things to consider when buying.
1. You can drive it where ever you want with no mileage restrictions.
2. If you don't want to fix damage you don;t have to (assuming its still safe to drive).
3. When you finish paying for the car it is yours and you can continue driving it with no more payments.
4. If you don't want to do any maintenance you don't have to. Although they recommend you do this to keep your car running correctly for a long time.
- Anonymous1 decade ago
Personal contract hire can be both cost-effective and easy to manage, you make fixed monthly payments for the duration of the contract. After the contract expires you simply return the car to the leasing company and can arrange a new contract for a new car.
Advantages of Contract Hire:
Fixed monthly payments which are cost effective and allow you to easily budget.
Road Fund License included, FREE UK Delivery and No Admin fees with most contracts.
No depreciation worries – At the end of the contract the car goes back and you do not have to concern yourself with selling the old vehicle.
Contract hire deals gives you access to vehicles that may be unaffordable to buy.
If you would like any further information please contact me and visit our website www.your-lease.co.uk