Car Lease - Click here to see thousands of deals online now
A Car Lease is a type of car financing that helps the buyer use of a car and retain the car for personal use, while the financier has the actual title of the vehicle.
When you hear the phrase car lease or finance lease it is referring to a commercial product that allows the borrower or purchaser of the car to use the car while having all the benefits of ownership. The financer or the financial institute retains the title of the vehicle so that real ownership remains with them until the lease is completely paid off.
The way a car lease works is the individual or company interested in purchasing the vehicle goes to the lease company who buys the vehicle for the customer. The customer then lease the vehicle from the financer paying a fixed monthly rental as agreed upon for the term of the lease contract.
Car leasing has many advantages varying from allowing sole traders and individuals, companies and partnerships to pay a fixed interest rate to making lease payments in advance for tax deductions.
When the lease term ends the buyer can pay the final installment in the form of a value payment and take the ownership of the car or trade it in. Another option is to refinance to continue the lease for a period longer than the usual 24-60 months.
A car lease is available from car financing companies online and through the more traditional brick and mortar firms, however, online car financing firms offer more competitive rates and have a faster approval time.
Car Lease - Click here to see thousands of deals online now
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