Getting a brand new car is quite exciting but the entire procedure can be very frustrating, unnecessarily costly and complicated if you are not careful. It is only because of this reason that people choose to lease a car instead of buying one. Leasing a car gives people the scope of getting a new model every few years and also ensures that they have a recent, reliable vehicle to drive. However, qualifying for a car lease might be a problem for the ones who drive too many miles. Is it possible for such individuals to get high mileage car lease and if it is at all possible, what is involved in it? Have a look below.
High Mileage Car Lease- What is It?
The high mileage lease is a lease that is written with a higher limit on mileage which is generally 18, 000 to 20, 000 miles. By way of this lease, the lessee gets the scope of driving further per annum without worrying about those expensive and pesky over-the-limit per-miles charges. Here, the main catch is that the lessee needs to make higher payments in the form of a monthly lease. Thus, considering the exchange between above-limit per mile charges with standard lease and higher lease payment on a monthly basis with high mileage lease, the high mileage lease is worth it. One of the most important points here is that the closer the lessee gets to the set mileage limit on the lease, the more he or she will be able to save. However, the standard lease would be the perfect option for the ones who estimate that they will only exceed the standard lease mileage limit by a few hundred miles.
Eligible Candidates for High Mileage Vehicle Lease
High mileage car lease is generally requested by business consumers who need to make use of a car as part of their job with the mileage varying anywhere between 25, 000 and 45, 000 miles per year. This goes for the people who are into travelling nationwide on a regular basis. There are many people who find that they might be precluded from leasing a car but this is not the truth. There are many companies that provide high mileage car leasing offers. However, prior to getting such car leases, it is necessary for the consumers to understand whether this contract would be right for them or not.
How does High Mileage Car Leasing Benefit Individuals?
There are different ways in which high mileage car leasing can benefit individuals and the benefits are as follows:
- The individuals get the flexibility of fixing the amount of time they utilise the vehicle i.e. for two or three years.
- Individuals can also include optional maintenance package for covering tyres, maintenance and servicing.
- There is flexible mileage and terms to suit the requirements of the consumers.
- VAT registered businesses have the option of claiming back a certain proportion of VAT on the maintenance rentals and finance rentals.
- There are no disposal or depreciation concerns.
Thus, the idea of getting a high mileage car lease is the best option for all those drivers who are into driving a lot.