Lease Profiles Quoted To Con Customers
Saturday, 29. October 2011
Lots of lenders and brokers are starting to quote lease rentals based on 6 rentals in advance in order to make the monthly rentals appear low. It also helps with underwriting as the higher the initial rental, the lower the risk. However, I still try to stick with 3 rentals in advance which may make the monthly cost look high but it makes the initial rental more manageable. Some have taken this a little further and now also quote on 4 year periods which again can reduce the monthly payments.
I’m not so anti this as I am the 6 rentals in advance, especially as many manufacturers are providing 5year warranties now and with the Government considering putting back the first MOT test until the car is 4 years old it is starting to make the 4 year deal attractive, so if you are in the market for a new car it may be worth considering the 4 year deal unless you’re the type that gets bored easily. By Graham Hill
