Contract Hire cars are fast becoming the favoured choice for many people especially the ones running businesses. The good points being getting to drive a brand new model every 2-3 years, no hassles about selling the car after a few years, car being under warranty etc. The bad points being not owning the car after having paid for so many years even though the installments are pretty reasonable. Any one here own a contract hire car?
Contract Hire companies argue that if you were to buy a brand new car from the dealership, after 2-3 years you will lose almost the same amount in depreciation as you would pay in installments for the hired car. So keeping in mind the hassle of selling the new car you bought from the dealership which obviously does not come in to play with contract hire, some people prefer the hiring option.
Unless you're a mechanic who can maintain your own car the idea is quite convenient. It hurts to rent, but between ridiculous repair bills when something breaks down and depreciation you likely come out better and drive a sweet car at the same time.
Yeh thats a valid point. repair bills, labour charges, service costs do add up if you don't know a little DIY. Atleast with contract hire, most deals tend to include maintenance. The fact that you could be driving a Hired Bentley Continental from as low as £559/ month is mouth watering