If the end of the contract period of a private lease car is in sight, it may be interesting to buy it. No more monthly payments, just private property: not the leasing company, but you are the owner. car week figured out why you would do that and how it works.
Dutch consumers have bought private lease cars en masse in recent years. Logical, because with such a contract they know exactly where they stand. The monthly costs are clear and stable and as soon as the contract ends, you simply return the car to the leasing company. No stress about the depreciation, no hassle about trade-in and you don’t have to go to the farm with your car to sell it.
But there are also disadvantages to private lease. Last month, a new, serious drawback was added. The contract is reported to the Credit Registration Office (BKR). That sees the contract as a kind of loan; after all, you are obliged to pay a certain amount each month. And that affects your creditworthiness. In short, your private lease car can lead to a lower mortgage on your owner-occupied home.
It is one of the reasons why it might be smarter to stop opting for a private lease at the end of the contract period. You can of course simply purchase a car yourself, new or used, but at that time you can also choose to buy the lease car that you know.
Usually the leasing company allows you to take over the private lease car at the end of the contract. Some leasing companies even come up with a proposal on their own initiative. If you are considering taking over, get started on it in time. After all, you must return the lease car no later than the last working day within the contract period.
Pros and cons
It has a number of advantages to take over the private lease car in which you have driven from the leasing company. You know all the pluses and minuses of that car after years of use. Plus, you are familiar with its history. The entire history, even if it was a brand new car at the time. You are aware of any problems or defects and you know how it was driven. You also know to what extent the car has been properly maintained. After all, garage costs are included as standard in the lease price. You are assured that the car has always had the necessary services and repairs.
There are also disadvantages of such an acquisition. Private lease relieves the consumer. If you opt for a car you own, you no longer have a fixed, clear monthly amount for the car costs. You will have to arrange matters such as road tax, insurance, maintenance and breakdown assistance yourself. Little consolation: this can be cheaper than the monthly rate that you have to pay in a private lease construction.
Do you indeed decide to take over the private lease car from the lease company? In any case, make sure that you do not pay too much. The car will be valued as a pre-owned vehicle between twelve and sixty months old, depending on the contract. This gives you the opportunity to see whether the leasing company has made you a good offer, because you can easily compare the purchase price with the prices of similar cars on the market. For example, look at a large occasion platform such as Gasmetaal.nl. You can also use a so-called license plate check on, for example, the website of car week see how much your car is worth.
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