What is the best type of car lease for you?

As a private or business driver, you have several options when it comes to leasing a new car. When deciding which one to go for, naturally you'll want to make the best long-term option that'll still suit you at the end of the lease. Here are some of the main pros and cons of each type of car lease:

Personal Contract Hire

Pros: You can drive a new car every two or three years, without having to worry about depreciation or when the warranty ends. The initial deposit is likely to be lower, and monthly payments are fixed so there are no surprises. VAT-registered business drivers can also reclaim part of the VAT on each finance payment - and at the end of the contract, you simply hand the vehicle back.

Cons: You won't be able to end your contract early even if your circumstances change. If you want to own the car, this will not be an option. There are financial penalties if you exceed the mileage limit and have excessive wear and tear

Contact Lookers for full details on your car finance options.