Are you ready for a new car or have you just obtained your driver’s license? Then you probably also want to drive your own car. Unfortunately you do not have enough savings to buy a new car. No problem, because the dealer offers to lease the car. You can then drive a new car for a fixed monthly amount. How wise is private car leasing? But there are also different lease forms from which you have to make a choice again. This makes a decision even more complicated, because what do you do best? In addition to the so-called financial lease, where you actually take out a loan, there is also an operational lease and a fully operational lease. I will discuss the mutual differences later. Do you opt for convenience without looking back, or do you want to arrange certain matters such as insurance and maintenance yourself? The more extensive, the higher the monthly costs.
The advantages and disadvantages of car leasing
How wise is private leasing a car? But there are also different lease forms from which you have to make a choice again. This makes a decision even more complicated, because what do you do best? In addition to the so-called financial lease (financial lease), where you actually take out a loan, there is also an operational lease (operational lease) and a fully operational lease (full operational lease). I will discuss the mutual differences later. Do you opt for convenience without looking back, or do you want to arrange certain matters such as insurance and maintenance yourself? The more extensive, the higher the monthly costs.
The benefits of a private lease
Leasing a car certainly has a number of advantages. Leasing companies don’t speak of carefree driving. Does your car need maintenance? Then the car will be picked up by the leasing company. Do you have damage after an accident? The leasing company collects the car from you, takes care of repairs and returns the car. Moreover, in the meantime you have another car at your disposal.
✓ Exactly what amount you have spent on your car.
✓ You are not confronted with unexpected bills from the garage.
✓ Do not negotiate with a seller about the selling price and a trade-in price.
✓ Drive a new car, even if you have no savings. Of course you must have a fixed income.
When private lease
Do you not have enough savings to buy a new car and are you unable to take out a personal loan? Are you considering buying a new car with borrowed money? Remember that private leasing a new car is often cheaper. You will also be relieved of many concerns and costs, such as maintenance, MOT, insurance and road tax. Some of these options are optional with an additional cost.
The disadvantages of a private lease
Every advantage also has its disadvantage. This of course also applies to the private leasing of a car. The main disadvantages are: Remember that for the carefree driving offered by the leasing company you will pay a certain amount each month. With a new car, bought with your own savings, you also drive fairly carefree.
After all, you usually have a several-year manufacturer’s warranty and the costs are usually low. Moreover, with a private lease of a car, you are required to pay a fixed amount each month. So you have to be able to do that every month. Do you suddenly have less income? You will then also have to meet your payment obligations. If you fail to pay on time, the leasing company will just as easily pick up the car again.
Pre-determined number of kilometers
With a lease contract you are often tied to a certain number of kilometers per year. You may not drive more kilometers per year than stated in the lease contract. Do you drive much less than, for example, 10,000 kilometers in the lease contract? Unfortunately, you will not be reimbursed for kilometers not driven. The duration of the lease contract is also fixed. So you have to drive the car for four years.
Do you, for example, want to get rid of the contract after two years? Then you pay a decent fine. However, there are also providers that offer you the option to adjust the number of kilometers driven per month online. If you go on holiday to Spain by car and you also go to winter sports, you will make considerably more miles than previously agreed. With this handy online option you can set this yourself.
Do you want to buy a house?
Do you want to buy a house in the future? Then it is good to know that part of the lease amount has been deducted by the bank from the mortgage. The amount of the maximum mortgage that you can get can be significantly lower.
On the other hand, if you take out a loan for your car, it will also be included in the mortgage application. In fact, it is lead to old iron. However, something to keep in mind for your future plans. The rule is that you (approximately depends on your income) can spend 30% of your income on ‘living’. View the example below.