MoneyHub publishes guide to NZ Vehicle Leasing
4 February 2020
MoneyHub has published a guide to car leasing designed to explain and compare vehicle lease options, as well as present a number of popular providers.
MoneyHub Senior Researcher Christopher Walsh said:
“In an effort to understand the variety of car leasing options, both operating and finance-based, our guide explains the pros and cons and obligations in detail. For anyone looking at a car lease or re-leasing, we’ve published a timely resource that helps to explain what’s most important”.
“For example, we’ve highlighted that maintenance packages will most likely exclude tyre replacement. And replacing four tyres can be costly, so it's important to ask what tyre package is available (and negotiate a better one if necessary). A set of tyres generally lasts around 40,000 km, so if you have a 90,000 km mileage lease, this could cost an extra $2,000+ in tyre costs. This makes the lease cost more expensive than the monthly commitment”.
“We want to make it clear there are GST differences depending on whether you take an operating lease or a finance lease. And for anyone in business, you can deduct the lease costs in the same way as their petrol costs, phone bill and marketing expenses. Ultimately an operating lease lets you drive a new car without losing money on depreciation”.
“We expect our detailed guide to vehicle leasing to be popular, and our research team will be updating the details on an ongoing basis”.
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