FutureStarr

60k Car Lease OR

60k Car Lease OR

60k Car Lease

via GIPHY

What does your car remind you of? If you answered “a chair”, you're not alone. And that's okay! A car is likely an expensive purchase, but our credit/lease life is adaptable, meaning that you don't have to auction or sell it.

Car

A lease is a contract allowing a party to convey property to another party for a specified time, usually in return for a periodic payment. A car lease allows a person to drive a car for a fixed period of time as they make a down payment as well as monthly lease payments until the lease ends. It can help to think of a car lease as a long-term car rental; while car rentals generally last for as little as a day or even just a few hours, car leases average between two and four years. Many leases allow the purchase of the leased vehicles through a purchase option agreement at a specified price once the lease ends. It is important to note that choosing to add such an option at the beginning of a lease will add a small amount to the monthly lease payment. Most car leases can be found at dealerships or private car dealers.Residual Value—Sometimes called lease-end value. In essence, the residual value of a car is the amount it can be bought for at the end of the lease. Financial institutions that issue lease contracts, not the dealers, set residual values on vehicles. It is an estimation of the worth of the car at the end of the lease period. The difference between the price of the car minus residual value will result in the depreciation of the car after a lease, which is amortized throughout the lease loan. Therefore, auto leases tend to be more affordable for slowly-depreciating vehicles because they hold their residual values well.

Lessees can potentially avoid excessive wear and tear charges by taking good care of their leased vehicles. This can include adding protection such as car door guards, or assuring that small children are properly attended to. In the days prior to the return of the vehicle to the lessor, it can work in the lessee's favor to ensure that the car has as much curb appeal as possible. Giving it a wash, buffing out any scratches, replacing small broken parts, and removing stains from upholstery can help. Wear and tear insurance is available for lessees who feel that they might need it to cover excessive wear and tear. Lessees with too much excessive wear and tear have the option to avoid penalties if they buy the vehicle at the end of the lease.Important Information: Information was current at time of publishing and is subject to change. *Weekly costs have been determined by comparing the post-tax position of including a car through a novated lease vehicle package with no leased vehicle. Vehicles must be ordered before 20 September 2021 via the FleetPartners preferred dealer network. These novated specials cannot be used in conjunction with any other offer. ^A residual value amount of 28.25% of the vehicle purchase price plus GST is owed at the end of term. #Savings amount based on income tax and GST savings over the lease term. The novated lease offers are only an indicative approximation and availability on the selected new vehicles and models shown and may change at the time the lease quotation is completed and finalised. Your individual circumstances have not been taken into account and will affect the overall weekly cost amount and the benefits of a novated lease. This information is not intended as a substitute for any specific financial and tax advice which you should obtain. Credit Criteria. fees and charges, terms and conditions apply. (Source: www.fleetpartners.com.au)

 

 

Related Articles