Car Leasing

Bluefoam

I'm leaving the country to live in the Middle East & need to get a car fairly quickly.

I am considering getting a lease rather than a loan & was hoping that I might get some advice here, even though its a completely different country I was hoping to know a few 'norms' before I negotiate...

Is leasing generally cheaper?
Is servicing & repair included?
What are the standard minimum terms (1 year/3 years?)
What are the penalties like for breaking the lease?
Is insurance generally included or do I insure separately?

Thanks

R.O.R

Bluefoam wrote: »

I'm leaving the country to live in the Middle East & need to get a car fairly quickly.

I am considering getting a lease rather than a loan & was hoping that I might get some advice here, even though its a completely different country I was hoping to know a few 'norms' before I negotiate...

Is leasing generally cheaper?
Is servicing & repair included?
What are the standard minimum terms (1 year/3 years?)
What are the penalties like for breaking the lease?
Is insurance generally included or do I insure separately?

Thanks

There doesn't seem to be a norm for leasing across the globe, what's included/excluded as standard seems to vary quite a lot from country to country, but I'll give you as much info as I can.

Should be cheaper as you are only financing the difference between the cost and sale price, rather than the sale price and 0 as you do on a loan.

Can usually be taken either with or without service & repair. If you are low mileage then wouldn't bother with the service contract. If you are high mileage I'd recommend it - will probably cost you a little more than if you did it yourself, but you have peace of mind.

Due to the way cars depreciate, it's usually very expensive to lease on anything less than 3 years. In Ireland it's usally 3 or 4 years.

Standard penalty for breaking a lease early here is 50% of the outstanding rentals. Can prove very expensive.

Insurance can't be included in Ireland, but it seems you can do it elsewhere. Not sure for personal leasing, but it seems to be the norm in the rest of europe that insurance is included in the lease. I think in certain parts of the middle east that insurance is covered by the government. Almost sure that you don't need additional insurance for 4x4's in Dubai, it's already provided.

Bluefoam

Thanks R.O.R, very informative! Leasing is all new to me...

Decaf

Does anyone know of any Private Car Leasing companies operating in Ireland?