LEASING
You can lease both new and used vehicles, but the car must not be older than 16 years by the end of the leasing period. With this option, you don’t have to pay the entire price at once: 10% of the deposit is usually enough and the car is at your disposal.
This is followed by monthly lease and insurance payments. In addition to motor third party liability insurance, comprehensive insurance is also obligatory in the case of leasing, as it compensates for damages to the car, regardless of the cause of the accident.
When buying a car, you can choose between two types of leasing:
- with a financial lease, you become the owner of the car at the end of the leasing period;
- in the case of an operating lease, the owner is the lessor and you remain the responsible user.
A financial lease is a good choice if you aim to buy the vehicle in the end. An operating lease allows the vehicle to be used for an agreed period, after which you can return the car to the lessor. Upon return, the machine vehicle must include all the original parts and meet the requirements for normal wear and tear.
CAR LOAN
As an alternative to leasing, banks offer car loans. This allows you to buy older and lower priced cars that do not meet the leasing requirements. Unlike leasing, you do not have to make a down payment on a car loan.
If the amount of the loan is lower for a car loan than for a lease, then the interest rate is again somewhat higher. However, a car loan provides more flexibility than leasing: the bank does not need to submit an appraisal report, the vehicle belongs to the buyer immediately and comprehensive insurance is not mandatory.