Guide to Car Leasing – part 1 of 7
Whether you have your eye on a Ferrari or a Ford, we'd all love a new car. However, very few of us can reach into our pockets and afford to finance a car with our own cash. Consequently we are left to turn to other options - from car leasing (also known as 'contract car hire') to car loans and from hire purchase to personal contract purchase (also known as 'PCP').
However, with so many options to choose from which one is right for you? The moneysupermarket.com guide to car finance, including car leasing and personal contract purchase, will examine all of your choices and help you make an informed choice on the best solution for you.
Car Leasing and Other Finance Options
The first bump on the road to determining how you will finance a new car is to consider the price you can suitably afford. Consider how much you will have to pay back and how often, and what is within your price range. That doesn't mean that you have to stick to a comparatively cheap and conventional car - it might be necessary, for example, to take on a larger vehicle to support your business or a growing family. However, think carefully about how much you can afford to pay back. To do this you need to have a thorough understanding of the options available to you. Broadly, these are:
- Cash
- Personal loans
- Hire purchase
- Personal car leasing
- Personal contract plans
If you have the money, cash is certainly the best way to pay as you can avoid having to spend more money on interest charges. However, sadly for most that isn't an option and you should instead consider all of the other avenues available to you.
The remainder of this guide will examine these choices and evaluate their pros and cons.
Jump to another part of this guide: | 2 | 3 | 4 | 5 | 6 | 7 |