To borrow or not to borrow – banks versus car leasing companies

By Matt Burgess, 360 Financial Services

Car leasing whether for individuals or companies, can result in great cost-savings.  Using car leasing companies can also reduce the amount of time you spend looking for car finance options.  Traditionally shopping around for a finance option for your car purchase meant trudging into bank after bank, waiting in queues and often finding out that a bank car loan is hard to get and comes with a high interest rate, fees and charges.

Car leasing companies offer an alternative to traditional bank loans, allowing you to effectively “rent” your car and take advantage of tax savings in most cases.  Because many car leasing companies act as a broker, you can get the best bank deal anyway (if that suits your circumstances better than a lease).

What are car leasing companies?

You know all know about banks but what are car leasing companies, you ask.  Car leasing companies offer the service of “renting” a car to you by purchasing the car on your behalf and charging you a monthly payment to use the car.  Car leasing companies allow you full use of the car as if it was your own, but the title remains with the car leasing company until the end of the lease when you can choose to pay a final “balloon” payment to own the car outright.  Some car leasing companies can also broker a car loan for you.

What to look for when considering car leasing companies?

Car leasing companies vary in the level of service they offer.  360 Financial Service is one of the more service-oriented car leasing companies in the marketplace.  Car leasing companies offer not only a finance broking service, leasing and loan alternatives, but also a free car finder service to help you get the best deal.

How car leasing companies compete

Getting a car loan from a bank can be complex and time-consuming.   Because car leasing companies are competing with the banks, car leasing companies aim to make car leasing as hassle-free as possible.

Reputable, friendly car leasing companies

360 Financial Services is one of the more reputable car leasing companies with friendly staff to advise about car leasing companies and help with car finance to suit your circumstances.  Contact them today.