If you’ve ever leased a car, there’s a good chance you’ve come into contact with two terms: ‘personal car leasing’ and ‘contract hire’ - and, in essence, they’re rather similar in meaning.
Leasing is quite similar to renting a car or van, and similar contractual terms apply. These include avoiding damage, not making alterations to the car and ensuring that insurance and maintenance are adequately covered. The biggest difference, in this case, is that ‘renting’ usually describes a short term arrangement, while ‘leasing’ generally refers to periods of between 24 to 48 months.
Another added advantage is that personal car leasing is usually reserved for brand new vehicles. Therefore, if you’ve ensured proper maintenance and insurance are in order - you’re likely to pass your lease inspection after 3 years.
It’s crucial, however, that you are clued up on maintenance and leasing as not doing so could result in either a hefty fine at the end of your contract or paying out of your pocket.
The following easy-to-read guide will take you through the most important to know steps.