Already very popular in the U.S., personal car leasing is becoming increasingly popular in the UK – it allows people the option to change their vehicle every 2 or 3 years without losing thousands of pounds in depreciation.
Many people are now realising the benefits of not tying up their capital in a depreciating asset. We all know that the minute you drive a brand new vehicle off the garage forecourt it depreciates, the most significant decrease in a vehicle’s value occurring during the first year.
But at the same time we would all like the option to drive a new vehicle and benefit from having the latest models with a full warranty and the reliability that comes with it. This is where vehicle leasing comes into its own. You simply pay an initial rental equivalent to a number of monthly payments and then pay regular monthly payments for an agreed period such as 12, 24, 36, 48 or 60 months.
The Benefits of Personal Contract Hire
Personal car leasing is a way of putting you in a quality, reliable vehicle at the lowest cost. These are just some of the benefits:
- Small initial rental (selected models)
- Low fixed monthly payments
- Doesn’t tie up your capital
- Maintenance included for worry-free motoring
- Flexibility to drive a new vehicle every few years