Car leasing is an alternative way of acquiring a vehicle as compared to traditional car loan or outright purchase. Leasing a car allows you to drive a new car for an agreed duration between 2 to 5 years at an agreed monthly rental.Car leasing is effectively a long-term rental of a brand new car at a monthly payment comparable to car loan EMI with some additional benefits like zero down payment, all inclusive monthly payment & tax benefits. lease a car This is probably the most popular leasing product for individuals looking for a regular payment and the chance to drive a new car every two to five years. Personal Contract Hire provides fixed monthly costs for the finance of the vehicle with the option to include extras such as servicing, maintenance and breakdown cover for even greater control of your budget. With Personal Contract Hire, the leasing company takes on the risk of how much the vehicle will be worth at the end of the contract – meaning no unexpected surprises for you. At the end of the agreement the vehicle is handed back and an order for a brand new car can be placed. You do not have the option to buy the car at the end of the term. This gives you many features similar to Personal Contract Hire, such as fixed monthly payments, but provides you with the option of owning the car at the end of the contract. car leasing The expected value of the vehicle at the end of the contract is set based on how long you want to use it and your mileage over the period. This value is the amount you’ll have to pay at the end of the contract to take ownership. If you choose not to take ownership, the vehicle is handed back and another vehicle can be ordered.