The different types of leasing options that are available!
Many say that the leasing option for the individuals widely differs from the leasing options for the business needs. There is no reason why the leasing option for individuals should be much higher when compared to the leasing options that are provided for the businesses. see the options for individual leasing here. there are many options that are available that can be made for lease. Below are the options for it:
Personal Contract Hire is also known as PCH. This is the most popular type of leasing that is available for individuals. This leasing option requires a monthly regular payment that should be paid and you will also have a chance to drive a brand new car every two to five years. You can extend the lease period up to five years maximum and one year minimum in the PCH plan for the lease to individuals. This type of lease provides monthly costs for vehicles. This leasing also includes extra charges too cover the maintenance and service options. Even when you undergo a breakdown you have the leasing company covered that for your sake. This option will be provided you with greater control of your budget.
With this PCH plan, the risk of the vehicle is completely taken care of by the leasing company. The PCH plan only takes care of the risk of the cost and value of the vehicle at the end of the lease. That means that the company that leases to you cannot bring in new products and take money from you pointing out the reason that you have leased the vehicle. After the lease period is over, then the vehicle is handed back to the leasing company. But in personal contract hire, you cannot buy the car at the end of the lease period.
The second way that any individual can lease out a car is by Personal Contract Purchase which is also known as PCP. The features of personal co contract purchases are similar to that of personal contract hire. You will be asked to pay fixed payments monthly. But in the personal contract purchase at the end of the lease, you will be asked to buy the car. If you are looking to own a car then the personal contract purchase would be a good option for you.
The value of the vehicle that you are going to buy ill depend on coupon the current value of the vehicle at the time of the completion of the lease. You will have to pay the amount that is pertaining to the value of the vehicle. You also have an option to change your mind and not by the car even if you have chosen this option. You can hand over the car back and you can then take out another car for lease.
Therefore, the options for individual leasing and business leasing is not so much different. And the cost also does not vary between the individual and the business leasing. In individual leasing, you will be the total responsibility for everything that happens. but when it comes to the leasing of the vehicle for the business needs that you should take the risk of the business and also you should be able to pay the lease amount correctly. If you do not pay the lease amount correctly then it might have an effect on e-business and also impact your name.