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Car Leasing Facts You Need To Know Car leasing may be an excellent option for those individuals or companies that want to have a new car but want to save some of the money it costs in full car ownership. Car leasing is an excellent manner to rent a car for a short period of time. Since car leasing is only for lease, there is no ownership involved in this matter. A car leasing option is associated with the payment of money. For the protection of the leasing company, the initial deposit is non refundable. After the initial deposit, any person or company presenting car leasing will pay an amount per month as agreed upon by both the car leasing company and the individual. The terms of the car leasing transaction will be two to three years, but it can be lesser than that. Car leasing is not the same as taking out a car loan. The initial deposit is the largest payment method required and that is about one to three total monthly rental payments. This enables the person or company leasing in order to keep their money in a high interest bank account and to make the car lease payments as a part of their living expenses monthly. This can be especially advantageous to entities that wish to lease a company car. Other than the capital expenses, they can take the payment out pf the operational expenses.
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Since the lease will usually be less than three years, the car will always be covered under the warranty and terms and it will not require an MOT. In other words, that the person or company offering car leasing will not need to worry about principal repairs. The only things that individual or company car leasing needs to worry are the routine services such as the consumable items and oil. Throughout the first three years, these items are not usually an amazing expenses.
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Years after, most companies or people change their cars and this is where car leasing an advantage. This is advantageous for many reasons. The first ground being that the individual or company will not need to worry about the break down of the vehicle all the time since it gets older and becoming more of a burden other than an asset. Another benefit to leasing is that the individual or company will get the latest car every two or three years. If you do not want to pay full for car ownership, then car leasing works for you. One car is simply given back to the car leasing company in exchange for another car