Getting a new car can quickly become an expensive headache. Manufacturer finance packages are sometimes hard to understand, there are APR rates to consider, and then there’s the optional final payment. This is a lump sum you need to pay at the end of the agreement to own the car, assuming you’ve gone with PCP and not HP.
Confused? Well if you are, leasing, also known as Personal Contract Hire (PCH) or personal car leasing could be for you. Car leasing does away with APR rates and optional final payments and is essentially a long term hire agreement. If you lease you won’t be able to buy the car outright.
There’s an initial payment, sometimes a processing fee, then there’s a set of fixed monthly payments. You set an agreed mileage limit per year. And that’s it. You simply return the car. In most situations, you don’t have the option to buy the car.
Compare and select the best car lease deals and special offers on Parkers and get a shiny new car delivered to you nationwide.
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Car leasing advice and help. These articles, penned by Parkers' experts, will help you understand leasing better, and help you decipher if it's for you.