PRO’s
- Fixed price lease – lower monthly rental than buying
- Short term – giving you the option to change your car after 2yrs and start again with a brand new lease
- No risk of negative equity
- No tie in period to keep the car or sell it on, just hand it back at the end
- Brand new UK car – with full warranty – no risk of repair costs
- Road tax built ie new tax disc sent out after first one runs out
CON’s
- No motor free years if you tend to keep your car for a long period ie once the finance is paid off
- If you terminate within the term, you are responsible for a percentage of the payments in the remaining period
- You cant modify the car without obtaining authorization from the finance company ie body
