Of course, you can apply for a loan, and such offers do not currently require your borrowers to make a down payment. But cheaper and more practical will be leasing offers, which can be arranged directly on the Internet .
How to apply for car leasing online without leaving home?
First of all, you need to know that the car can be chosen by the leasing car owner. Of course, under this scheme, car leasing is executed much faster , since only two parties are involved in the transaction: the lessor and the borrower.
But it also happens: you love a car you accidentally find on an ad site. This car is sold by an ordinary resident of Latvia and has to pay the entire amount of money at once. In this case, you go to the leasing company with the photo of the car you find and apply for a leasing application so that the leasing company will buy you the exact car. You will need to attach documents to prove your ability to pay with the application.
Before you go to a leasing company, we suggest that you call your car dealer and ask: Will he be willing to sell your car to a leasing company so that it becomes yours? After a visit to the leasing company, it will start a negotiation with the car dealer, and if the car is worth the price (an independent evaluation will be made), the leasing company will definitely agree to the deal and purchase the vehicle for you.
All of these measures, including the signing of a leasing contract, can be taken from your home in both the first and second case. The application is quickly filled in electronically (each leasing company has its own form) and the car’s photograph and documents are sent electronically to the lessor’s e-mail.
What does Car Leasing Mean?
There are many types, types and categories of car leasing, but the major groups of this transaction are divided into two types: financial leasing and operating leasing . What each type means can be understood by their names:
- Financial leasing – helps your client to fully purchase a car in small payments. At the end of the financial car lease, the car is fully owned by the borrower. In addition, the borrower has the right to choose the amount of the payment himself, determining the final price at which the car will eventually be redeemed.
- Operational – very similar to a long term lease. At the end of the lease term the customer returns the car to the leasing company. In this type of leasing, the monthly payments are much lower than in the financial leasing, almost insignificant when compared to the monthly cost of a car loan. But if the user changes his mind at the end of the lease term and does not want to return the car, he may extend the contract or fully buy the car.
When comparing the purchase of a car through operating and financial leasing, the full price of the vehicle to the borrower will be approximately the same .
Certain categories of car leasing may have different conditions or requirements.
Some programs require a down payment. But insurance must be done anyway, as the customer may get into an accident while using the car, the car may be stolen, and the leasing company will have to compensate their loss in some way. The difference in this requirement can only be in the content of insurance policies: each leasing company will require you to draw up specific insurance packages.