Before deciding to buy a car by leasing, I recommend that you read this other article on the differences between leasing and renting, to see what is best for you according to your personal circumstances. Leasing is a way of financing the car and, therefore, there must always be a financial entity involved and the purchase option must always be present in the previous rental contract.
Steps to follow:
Once you have chosen the car, you have to contact a company that provides leasing services. If you reach an agreement, it will be this financier who will be the owner of the car and will rent it to you.
To be able to sign a leasing contract, you have to be self-employed or a company. In addition, the car rental contract must last at least two years, after which you will have the right to purchase.
This contract will clearly show the monthly installments that you will have to pay, the net amount that is financed, the interest rate and the net amount of the residual value of the vehicle. The financial entity must be authorized to subscribe this type of financing.
When the rental term set in the contract ends, as we say, of at least two years, the financial institution is obliged to sell you the car. You will have to pay the residual value that was set in the initial document.
The benefit you get from buying a car through leasing is the tax treatment and that it does not involve a large initial outlay of money, which makes it more attractive than direct acquisition. Of course, you will have to pay the car registration and insurance costs, as well as take care of maintenance.
