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When a car is leased, a leasing company gives the client the right to use the vehicle. The client (lessee) pays monthly instalments for this just as with a hiring contract. All details are settled in a leasing agreement. At the end of the duration, the client either returns the vehicle or keeps it against payment of the remaining purchase price.
Pros of a lease:
If you lease a car, you have to take out full casco insurance including replacement value supplement.
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