What is an Operating Lease?
An operating car lease lets you drive a new vehicle without paying a large sum of cash or taking out a loan. To lease a car, you generally follow these general steps;
* Make a small down payment — less than the typical 20% of a car’s value.
* Commit to monthly payments for the term of the lease.
* At the end of the lease term expires, you return the car.
What are the benefits of Leasing rather buying a vehicle?
There are many benefits to leasing rather buying your vehicle. Everyone’s situation may differ so it’s important to understand what type of arrangement will benefit you most. An Operating Lease may be for you if you don’t have the cash to buy the car and need to drive a vehicle that’s out of your purchase price range. Aren’t likely to exceed the mileage cap in a contract (Usually between 20,000 and 25,000 kilometres per year). Will take good care of the car’s exterior and interior, paying particular attention to avoid nicks, spills and other cosmetic damage and expect to lease another car when your vehicle’s current contract expires.
There are generally two types of Operating Lease arrangements, Fully Maintained and Non-Maintained. Click the tabs below to learn more about which type might suit you.
A Fully Maintained Operating Lease consolidates all costs into one monthly payment that covers all the operating costs of the vehicle. The product offers competitively priced passenger and light commercial vehicle leases, removes residual, service and maintenance risk from your fleet. Weblease offers a number of ways to minimise the costs associated with your fleet. We take care of all the headaches and complexity of fleet administration for you.
Under a Non-Maintained Operating Lease the Lesee is responsible for all the service and maintenance and other running costs of the motor vehicle. Lease terms can be from 1 to 5 years.