Even though car leasing is popular nowadays in Europe and the United States, it’s not that popular in Cyrpus. Meanwhile, this is a great opportunity to afford a reliable, modern car with full service included in the price, instead of a used vehicle.
As you know, every medal has two sides. Let’s try to figure out what are the pros and cons of car leasing.
Advantages of car leasing
- The main advantage of leasing is the simplicity of the procedure and the speed of the transaction. You can get your car the same day you pick the desired car. Unlike a regular purchase or a loan, you have less paperwork, no interest rates. You can treat it as a long-term car rental in Cyprus.
- Besides that, you get a car that is 100% ready – no need to arrange anything with the government, register a car, etc. Everything is already done for you by the leasing company.
- All maintenance expenses are included in your contract, so you don’t need to pay and take care of it. Your leasing company will do that for you.
- If you decide to lease a car, you can negotiate the payments, payments’ day, etc. Car leasing companies are very flexible.
- You can exchange a car in 1-2 years for another car – more modern that will suit your needs.
Disadvantages of car leasing
- You can’t sell the car, since you are not an owner.
- Sometimes it’s not allowed to travel abroad by car
- Car leasing companies have the right to take back their car in case of delays in payments.
- Based on the contract you have, you may have higher monthly payments in comparison to purchasing your own car and getting a bank loan.
If after the article you feel that leasing can be an interesting option for you – we are happy to offer you our services. 7777Rent is a market leader in car rental business in Cyprus and we also offer long-term rental for people in Cyprus. Check out our offer here.