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The term Vehicle leasing means leasing or usage of a vehicle for a certain period of time on agreed terms and conditions and payment made for lease. Vehicle leasing is offered to customers by Dealers which is a substitute for vehicle purchase but most of the time businessmen use vehicle for businesses by taking the same on lease. Here you go: http://www.vehicle-leasing-uk.co.uk. After usage of the vehicle and on expiry of lease period, customer has to return the same to the Dealer from where he has taken the vehicle on lease.

Benefits of Vehicle Leasing:

It is advantageous to both the buyers as well as sellers. This is beneficial to the buyer as lease payments are frequently lower than the instalments of car purchase loan. Most of the clients choose leasing option as they have to simply return the used car and can select a new one after expiry of lease period, which allows client to drive as per their choice. The important and prominent benefit is one who has taken the vehicle on lease does not have to worry about the future value of the vehicle. From Seller point of view, leasing gives income from a vehicle and ownership of the vehicle remains with the seller only, can lease the vehicle again and again or may sell through vehicle remarketing after expiry of the original lease.

Lease agreement

Lease agreements restricts the lessee and put limit on number of miles a lessee can drive the vehicle and right of termination fee is also remains with leaser. Leaser can charge extra fees if the mileage allowance is exceeded. Specification regarding allowable wear on the vehicle is mention in the Lease agreement and if the wear exceeds, the lessee may have to pay an amount of exceeded wear. Lease Payments are calculated as per loan payments in a very simple ways. After expiry of the lease, the lessee had an option to either return the vehicle to or buy it from the original owner.

Terms of Vehicle Leasing:

At the primary stage of leasing, Lessee has to pay first monthly payment along with security deposit which is refundable by mutual understanding. Additionally, lessee has to bear other additional fees including local tax, registration fees, assignment fees, freight charges etc. Lessee is liable to pay for vehicle safety as well as discharges reviews and any traffic tickets. If Lessee decides to terminate his Lease agreement early, then he has to pay considerable early expiry of the contract or termination charges.

Rights and responsibilities

• Use the vehicle for the fixed leasing period as well as mileage as per lease agreement.

• Return the vehicle after paying termination of lease fees and any other charges with mutual understanding and walk away.

• If you decide to buy, give an idea to the Dealer well in advance

• Take the benefit of any warranties that apply to the vehicle which you have taken on lease

• Take care of parking of vehicle wherever parked

• Vehicle should be returned in original condition.

Published at: Recent Health Articleshttp://recenthealtharticles.org

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