How to buy a car by leasing
Before deciding to buy a car for leasing, I recommend that you read this other article about the differences between leasing and renting, to see what is best for you according to your personal circumstances. Leasing is a way of financing the car and, therefore, there should always be a financial institution involved and the purchase option must always be present in the previous rental agreement. In .com we explain in detail how to buy a car by leasing.
Once you have chosen the car, you have to get in touch with a company that provides leasing services . If you come to an agreement, it will be this financier who will be the owner of the car and will rent it to you.
To be able to sign a leasing contract, you have to be self-employed or company. In addition, the car rental contract must last at least two years, after which you will have the right to purchase.
This contract will clearly include the monthly installments that you will have to pay, the net amount that is financed, the interest rate and the net amount of the residual value of the vehicle . The financial institution must be authorized to subscribe this type of financing.
When the term of the lease fixed in the contract ends, as we say, of at least two years, the financial institution is obliged to sell you the car . You will have to pay the residual value that was set in the initial document.
The benefit you get from buying a car through leasing is the tax treatment and that does not involve a large outlay of initial money, which makes it more attractive than direct acquisition. Yes, you will have to pay the costs of car registration and insurance, as well as take care of maintenance.