Hond Financial

CAR LEASING AND CAR LEASING DEALS AND CAR LEASING ADVICE

The minimum period for the lease of a new car from a dealer is 24 months. Despite that, a lease, which is given for any period less than 24 months, is called as a short-term lease. If there is a lessee who wishes to get out of a lease, and another wants to assume that lease, then the person who assumes the lease might get one for less than 24 months. This constitutes a short-term car lease.

Leasing a car for a short term is always more economical. For a person who assumes a short-term lease, there are plenty of advantages. If the original lessee has already made a down payment, then the assumer is saved that amount in monthly payments.

However, this does not mean that it is entirely smooth riding for people with bad credit. Typically, leasing companies charge higher interest rates leasing cars to people who have a poor credit history.

Maintenance costs on used cars are high. Though there may be coverage for all the major parts, there is still monthly checkups that need to be done and this is a huge bill for the entire lease period. And if you neglect this maintenance, there goes your claim deposit.

Since depreciation of a car is much more in the first year than in the succeeding years, it is better to go for a short-term lease after the first year is over. This makes it a slightly used car, but it saves a huge bundle in depreciation. It is better to not make it too late because the warranty period would be over and the damages would not be covered. Also cars become less reliable as they get older and need more maintenance.

In Europe, short-term car leases are available to tourists. There, short-term car leases mean anything above 17 days– the minimum leasing period for a tourist. Renault, Peugeot and Citroen are the most popular short-term lease cars in France. They are very convenient for tourists, as well as students due to their pick-up and drop-off anywhere system. In most cases, the cars are not inspected when they are dropped off.

Resource Author Francisco R. Higueras
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