Buying a Car using Contract Hire and Leasing

 

 

 

 

contract hireContract Hire is a way to purchase a brand new car for a fixed period of time. They typically range from 2 to 4 years. Once this term has completed, you simply hand the car back and choose another. You may have the option to buy the car at the end of the term, however it is best to hand the car back and get another brand new one.

Advantages of Car Leasing are numerous:

 

  1. Payments are much cheaper with contract hire than car loans
  2.  You do not have to worry about depreciation, saving thousands
  3. No worrying about selling the vehicle after the hire terms ends.
  4. You can chose the exact vehicle specifications, and have it delivered from the factory
  5. All servicing and maintenance can be included in the price
  6. Tax can be included in the price.

 



Remember, that when you lease a car you are only paying for the use of the vehicle and the payments you make are calculated on the rate of depreciation over the length of your lease. This is why contract hire save you so much money versus buying a car new. This means you can be driving around in a new luxury car every two years, even if you think you could never afford a new car.

There are numerous online sites that offer great rates on new cars on contract hire.  If you own a business, you can use a leased car as a tax deduction and with no depreciation worry, having a car on contract hire can save you a lot of money.