Always check the initial rental before leasing your next car
When searching on the Internet for car leasing or van leasing prices, you may see loads of other sites offering attractive headline rentals. However the biggest factor affecting the monthly rental will be how much the initial rental is.
One of the benefits of using Comparecontracthire.com is that you will always be comparing prices on a like for like basis, with a three rental initial rental as well. Many other sites advertise a six month initial rental as it makes the ongoing prices look cheaper than they actually are.
Comparing car leasing prices on a like for like basis is always difficult so here are tips to make sure you are comparing on a like for like basis;
Things to check when comparing quotes from other sources
- Are you comparing on the exact same model? – Look at the manufacturer recommended list price (basic price plus VAT) to make sure it is a current model year. Non current models (old stock) may be offered to you, with different specifications to the vehicle you think you are ordering.
- What are the payment terms being offered? How many rentals do you have to put down and how many subsequent payments will you have to make? – Bigger initial payments, followed by longer payment periods, will make the headline rental look much lower than it actually is.
- Is there a document fee upfront and if so how much is it? – Divide this fee by the total number of rental payments to see how much this adds to the monthly rental.
- How long is the contract for? Rentals will vary depending on the term and generally the longer the length of contract, the less expensive the rental becomes.
- What is the annual mileage allowance being offered? – The smaller the allowance provided the less your rental will be. If you choose a lower contractual mileage, than your actual mileage, you will get an excess mileage bill when you send the vehicle back.
- What type of contract hire is being quoted i.e. is it with our without full maintenance for example? – Make sure you know what is included in the contract and what is not.
- Finally are you looking at the rental with or without VAT? – VAT will be added to any contract hire rental and your ability to reclaim this depends on your own company status i.e. VAT registered or not? If you are a private individual and opting for personal contract hire you should be looking at the rental including the VAT.
Tags: car, comparecontracthire.com, leasing, van