Leasing is not renting. When you rent a car, you are permitted to keep it for a few hours or a few days but if you take a bil on lease, you have to take it for a minimum of 2 years, during which you are to keep proper insurance of the bil, pay automobile taxes and licensing fee and properly maintain the vehicle to keep away any kind of damage. At the expiry of the leasing contract, you are to return the vehicle to the leasing agency and if any kind of damage is found in any part of the vehicle, you are responsible to pay for it. You can also buy the bil if you like it, but that won't be a very good idea.

The best thing about taking cars on lease is that the monthly payments that you have to make to the agency are much lesser than those of a bil purchase loan and you have the liberty to change your automobile every couple of years, not worrying about the selling of it. When you make up your mind about this, you need to keep one thing in mind, that is billeasing is not as same as house-leasing. Do not have a preconceived notion that the terms and conditions will be just as same. It's a different ballgame altogether. Do your research. Compare costs, find out as many information as possible about their proceedings, the time involved, and finance options available. Opting for financing will save your money in the long run. And before opting for one, consult a financial advisor. If you've made up your mind about leasing a car, it's better to choose one that has less depreciation costs attached to it. Visit a local automobile dealer's or ask your near ones who have used or are using any leased automobile. If you have a fetish for new models that have just arrived in the market, go for lease. But choose a short-term lease since a long-term one can make you crave for another new model.

It is a popular concept today because of the low expenses, and the zero worries. It has become so popular that even several employers are offering their employees with a leasing scheme known as novated bil lease. It is an agreement between the employer, employee and the financing agency. The best thing about this is that the payments are directly slashed from your gross salary. It's given in the sense of an incentive wherein, the onus of payments and the ownership of the vehicle lies with the employee even if he/she leaves the job. There are other schemes also in the market to cater to the needs of just about everyone such as, standard, operational, and many others.

Your lifestyle plays an important role in determining the purpose or need for a lease. If you have to deal with big business clients, you can opt for a leased luxury bil or if you don't like to drive the same vehicle for a long time, you have the option to change your vehicle at the interval of every 2-4 years.

Before returning the vehicle, make sure you've followed the proper cleaning regimen, proper servicing and maintenance regimen, do not cross the mileage limit, and preserve all the records.