Ultimately, you will have the option of becoming the final owner of the vehicle by paying the balance owed or subscribing to a new offer by changing your car. Indeed, if it is your name that is on the registration card, you are not legally the owner of the car with which you will drive. However, the LOA offers you the flexibility to regularly change vehicles without worrying about the recovery , the return is scheduled with the concession. It is up to you to respect the commercial agreement concerning the defined mileage, but also the maintenance and service schedule. Penalties and / or reclamation fees may be required.
Benefit from a recent second-hand vehicle via a contract between you (a natural person) and the dealer for a period generally ranging from 1 to 5 years, this is the principle of the long term rental of a car second hand . The terms of the contract are defined according to specific elements such as the base price of the vehicle (with its options), its residual value at car dealers that accept bad credit near me the end of the contract, the duration of the contract, the number of kilometers traveled (monthly or annually) and included services such as maintenance, insurance and assistance. The set is quickly defined and can be adapted with variations in monthly payments or payment breaks.
As with an LOA, you pay a monthly rent defined in advance. These monthly payments start from the reception of the vehicle so as not to make you pay despite the delivery times which sometimes exist.
LLD is a great alternative to purchasing . This no-contribution auto financing solution has the immense advantages of not having to worry about reselling the vehicle and being able to regularly change cars. Better, you control your automobile budget by avoiding haircuts and unpleasant surprises during maintenance visits!
Counterparts? They consist above all in ensuring the preservation of good interior and exterior condition of the automobile, under penalty of repair costs, and in ensuring that the defined mileage is respected. It is generally 15,000 km per year for a petrol car. 25,000 km per year for a diesel vehicle. The formula can nevertheless be adapted to large and small wheelers.
The purchase of a car is not incompatible with the banking ban. Some associations allow to buy a car at a low price and credit, in addition to opportunities between individuals or dealer. The alternative to credit is through long-term rental , the conditions being much less restrictive.
