Those who are familiar with the process know that leases and the financial side of them can be a confusing mess due to the number of different options and the fine print involved. The number aspects to examine when choosing a car leasing plan are numerous, but with a broad knowledge of the different types of plans, the subject can become much less tricky. Here are the most common types of plans and how they work.
Contract Lease: Companies that are in the lease business often do not see the vehicle after the contract is up. This type of lease gives them the option to purchase the vehicle and claim ownership. Instead of the lessee purchasing the vehicle, it goes back to the company who decides whether to send it back or keep it for a future lease.
Leaseback: This process involves leasing a car directly back to the company from which it was purchased. This allows the company who purchased the vehicle to free up the capital that would normally be tied up in the product.
Contract hire: A contract hire involves an independent company purchasing a vehicle and drawing up a contract with a business or individual. The company itself takes care of expenses, depreciation and also is in charge of the after the lease. This is a great option for low monthly payments and a temporary transportation solution.
Finance lease: This type of lease generally involves commercial companies leasing a car for a fixed amount of time from a finance company that owns the car. Because there are generally three parties involved with this type of contract, the details differ greatly. The company with ownership will generally pay for taxes, insurance, and other expenses, but this is sometimes not the case.
Depending on your financial and transportation needs, you may want to consider one or a few of these options and consult your financial advisor. A financial specialist will be able to tell you more about the details of the different leases and how to save you the most money.
Working with knowledgeable and experienced professionals about leasing a car will save you time and money. When you are comparing car leases, you can find the most affordable programmes quickly and easily!
Source: http://get-rid-of-debt.net/money/finance/finding-the-right-type-of-car-leasing/
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