When buying a car, the future owner is looking for all the ways to save money: waiting for a seasonal price reduction, looking for special offers and demanding discounts from a car dealer. And if a car is bought on credit, you can really find the most advantageous offer, namely, to purchase a car on lease.
What is leasing? In short, this is a long-term car rental with the possibility of its subsequent purchase. A private (individual) person can now purchase a car on lease under the new legislation. After all, earlier it was the prerogative of only legal entities. Financial lease is regulated by the Federal Law “On Financial Lease (Leasing)”.
How is the purchase of a car leased. A company or individual finds a suitable vehicle from a dealer. If the dealer operates under a finance lease scheme, the deal goes directly with him. The recipient of the car makes a security deposit of 10% of the value of the car and a down payment (or without it). He is calculated a schedule of mandatory monthly payments for a period of one, two or three years.
The car must be insured and a security system must be installed. The seller will be the owner of the car for the entire specified rental period. This means that the buyer is exempt from paying taxes. At the end of the lease term, the car can be re-registered as its ownership if all payment obligations are fulfilled. Or you can return the car back and get the amount of the security deposit. This scheme is suitable for those who are in Russia temporarily and are not going to acquire property.
Leasing is financially more profitable than a car loan. First, the monthly payments and the lease interest rate are lower. Secondly, the renter can return the car at any time.
