Poor credit or not, there are great reasons to lease a car through a bad credit car Finance
You may know the advantages to having a 12 month car lease. However, before you agree to get bad credit finance for a lease, you need to know why getting a personal, business, or commercial car lease really is worth it. Some companies which offer a poor credit car lease will offer a no-money down, down payment. What some potential car leases do not realise is they still need to pay the first month rent payments and the VAT charges. However, you are only paying on the car, truck, or van used, so payments are 30-60 percent lower than if you were purchasing the car for the same contract term.
A 12-month car lease allows drivers to have a new car and not have to worry about the fact an older car may need more repair. But, they not get to pick their colour. However, customers still get to walk-away with little worries if they do have bad credit and had to have bad credit finance in order to get the leased vehicle.
What’s to like about a vehicle gotten through a poor credit car lease?
Some companies automatically include GAP insurance in their contracts. However, some companies may not. It is best to ask before you lease. Getting GAP insurance may be wise because the company will not hold you liable if your car is stolen or is in an accident. It may save you thousands in additional pounds at the end of your 12 month car lease. It is not unusual to find a vehicle for under £40 a month in the UK. This pricing may not include the VAT pricing. However, it may save you a headache of having to pay thousands if the car is totalled in an accident.
Be aware, these cars gotten with a poor credit car lease are not truly great investments. Owners do not build up equity as they would with a car that is owned and not through a lease. Is a leased car worth it?
Here are a few things to consider if you have a 12 month car lease
No decorating it - You cannot modify it to how you like it. You cannot remove or add anything you do or don’t like and may get charged at the end of the lease period to correct problems caused by modifications. Get a tax break - If you plan to get leased vehicles for a business fleet or any other commercial purposes, you may qualify for a tax break. However, it is best to ask a company employee how your bad car credit finance may have an effect on your tax break.
Drive under a certain mileage- If you do not drive over the allotted mileage, you won’t have to pay the additional fee per extra mile and save yourself some money.
Take good care of the car - Even an accidental scratch may not be covered under a company’s wear and tear policy. It is best to ask before driving off the lot in a car gotten through a poor credit car lease.
Keeping in mind all these factors, is leasing a car still a good deal? Weigh the options and remember a 12 month car lease is only a contract for one year with a given year. If buying a car for a business fleet, you can change the vehicle after a year and sign a new contract for a new lease. At EMLease, we believe that our customers, whether businesses or individuals, need flexible, hassle-free solutions to their vehicle needs and this is what we offer. We offer short-term leasing contracts that are: Flexible, short-term, affordable, practical, fully maintained, and simple. We offer new vehicles which come fully maintained, so you do not have any hassle. Our vehicles are also competitively priced within the market. Have your circumstances changed? We offer flexible leases for six to 12 months. Looking for something specific? See what we have to offer at:www.emlease.co.uk
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