There are times when we cannot or do not want to pay a deposit on a car.
In the past, this would mean you were out for the count. You had to pay an upfront amount for your car. However, times have changed because people’s financial arrangements differ massively to what they did even a decade ago.
Presently there are ways of you getting a car without the need to pay a deposit. No deposit car leasing has been rising in popularity because it frees people who can’t afford to pay a large amount of cash at the beginning.
How no deposit car leasing works
Car leasing is incredibly flexible in terms of what it can offer drivers. You can lease a car for people with good credit and bad credit. You can lease a car for between 24-60 months and you have a choice about what your annual mileage allowance will be. It seems only fitting that you should be able to lease a car without needing to pay anything upfront.
If you want to pay a deposit
Choosing to pay a deposit can have its benefits. The deposit acts as an initial payment, taking off a chunk of the value of the agreement. This can be paid in one of three forms.
• A deposit worth three months payments
• A deposit worth six months payments
• A deposit worth nine months payments
By choosing to pay a deposit, you will lower the monthly amount you are required to pay because the remaining amount of the agreement will be less. That is why paying a deposit is advantageous.
The flaw with deposits
There is a flaw with paying a deposit. It requires you to have cash available to pay it. For many of you, that will not be a possibility. This could either be because you don’t have the money or you need it in reserve and can’t spend it on a deposit.
Whatever the reason, you should not be penalised for that choice. This is why no deposit car leasing exists. You can drive away with a car without being required to pay a deposit. But obviously, there are conditions.
You will have to pay the full value of the agreement over the agreed period of time. The large chunk of value you pay off with the deposit will instead be spread equally across the agreed period, thereby raising the amount you will pay a month. If you can afford the higher monthly payments as a result of not paying anything upfront, then you are on for a winner.
If you want a car without paying a deposit
If you have read this and want a car without needing to pay anything up front, then Zero Deposit Car Leasing is on hand to help. They have a brilliant range of cars available and you will find a car that suits your needs with them. They can offer you great no deposit car leasing deals and their dedicated team will ensure you get the best deal.
