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Car insurance

Leasing

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: 

  • Less cash required
  • Fixed monthly costs are known
  • No selling risk

Cons:

  • Expensive
  • Fixed monthly costs are due even if the car is not used for a longer period of time
  • Full casco insurance (comprehensive and collision) is mandatory, which could put a great strain on your budget

Tip:
If you lease a car, you have to take out full casco insurance including replacement value supplement.

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