The Bentley is another popular luxury car manufactured in Britain. Some of Bentley’s models include “the Bentayga EWB,” “the Bentayga,” “the Flying Spur,” “the Continental GT,” and “the Continental GTC.” If you are a fan of these cars, you are probably well aware of these models and maybe even thought of leasing one. Before you do, ask yourself one question. Is a Bentley lease worth the effort?
What is a Bentley Lease?
If you are considering putting a lease out on a Bentley, you are probably doing so due to one or two things.
- You can’t afford to purchase one on your own. You want the experience but on a fixed amount and timeframe.
- You can afford one, but you want some time to use the Bentley and decide on whether or not to commit to the price tag.
No matter what category you fall under, it is essential to understand a Bentley lease before moving forward.
A Bentley lease is an agreement between you and the “lessor” on a long-term rental of the Bentley. The lessor is the company that owns or is planning to buy the car. Typically, the deal between you and the lessor is that you can use the Bentley for a decided amount of time. The timeframe is usually between 2-4 years. Your end of the bargain is that you have to pay an upfront payment plus monthly installments. At the end of the lease, you must return the Bentley and decide on whether to renew the lease.
What Does a Bentley Lease Cover?
The lease you take out on a Bentley will most likely cover the following:
- Payment at the start of the lease
- Timeframe of the lease
- The current value of the Bentley
- The predicted value once the lease has ended
- Fees owned at the end and the interest that was acquired
- Possible termination fees if you want to end the lease early
- Charges that occurred from any wear and tear to the vehicle on your part
- Penalties for missed payments
- The number of miles you are allowed annually (Most lessors will only allow 10,000-15,000 miles per year)
Concerning the last point, there are per-mile fees if you exceed your mile allowance. As you can see, there are definite cons to the leasing process.
Other Cons
In addition to the mile allowance and fees, other possible cons include:
- Leasing a car could potentially cost more than buying and keeping the Bentley
- Paying for the deprecation at the beginning of a car’s life is a waste
- Lots of potential fees and penalties
- If you no longer need the Bentley, getting out of the least will cost you
- If you move, you will probably not be allowed to take the car out of your state
While the Bentley does prove to be a famous brand, they are expensive to buy and lease. You may only want to rent a Bentley if you plan to purchase one in the future. That will probably cost you less money in the long run.
