What is Short Term Car Leasing?

When a consumer wants to lease a vehicle for a short period of time, it is best to opt for a short term car lease. The minimum period for a short term lease is usually 6 months to 24 months. In such cases, finance companies eliminates or minimizes certain document, disposition, filing and termination fees as an extra incentive. The monthly payments too are way less than original lease arrangement when the vehicle has been leased for at least a year. Since depreciation value determines the payments, the first year rates can be around 30%, which benefits a consumer opting for short-term deal.

Many fees including insurance have been satisfied already, so the short term car leasing can realize additional savings. There may be several reasons why someone might want to lease a vehicle for a short frame of time. Some of them are- no cash for dealer fees and down payment, test drive particular model for a while, military deployment, special family requirements, temporary financial situation or job assignment. Short term leases can be as high as 39 months. 

In short term lease, one party arranges to take over the lease from the existing party having lease. In such cases, new lease assumes the monthly payment for the remaining months and takes over the vehicle.Also, the new buyer is responsible to return the vehicle at the end of the short term to the lease company. Short term car leasing makes motoring life hassle-free and less risk when compared to a non-acquisition finance method of using a car. 

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