Car Leasing - Most Popular Form Of Car Finance in 2010
During the first six months of 2010, there were just over 530,000 new cars purchased in the UK, according to statistics from the Finance and Leasing Association (FLA). It wouldn't be unsurprising if you thought that a large portion of this figure was cash purchases, another large portion being made up of hire purchase agreements and then a final portion comprising of other finance options, such as car leasing or personal loans. Whilst cash purchases are a favoured option mercedes car finance for buying a used car, when it comes to a new car 80% of all people buy them with car finance utilising one of three different options. Hire purchase agreements were once the most popular finance option. You pay an upfront payment followed by monthly payments (a portion of the money you borrowed plus interest) over an agreed period. You do not own the car until the end of the period when you pay a fee (check because this could be high). Next comes car leasing. There are two types o...