Residual value is the amount a leasing car is expected to be sold for when the leasing period expires. Whether you as a lessee should worry about the residual value depends on the type of leasing.
There are two ways you can lease a car; operational leasing (also called private leasing) and financial leasing.
With financial leasing, it is important to be aware of residual value. As a financial leasing lessee you are obliged to buy or sell the leasing car when your leasing contract expires. The residual value is the minimum amount for which you must buy or sell the car. If you choose to sell the car after the leasing period, you will be liable for the remaining amount if the car is sold for less than the total residual value.
GoMore Leasing does not offer financial leasing contracts. Rather, all our cars are leased as operational leasing with no concern of the car’s residual value. When your lease expires, simply hand over the car to an independent third party, e.g. FDM or Applus. Therefore, you will not be obliged to buy or sell your leasing car after the end of the leasing period.
Learn more about the differences between operational and financial leasing
A leasing car will always have a residual value regardless of the type of leasing. In that sense, talking about leasing a car “without residual value”, does not make sense. But there is an important difference with regards to the residual value depending on the type of leasing.
GoMore offers operational leasing where you do not need to worry about the leasing car’s residual value. If you lease a car with an operational leasing contract, you do not have to finance or pay down the market value of the car. You pay a fixed low monthly lease, and when your contract expires, you simply return the car. Hence, you avoid having to buy or sell the car when the leasing period expires. If you need a new car after the end of the leasing period, we are ready to help.
GoMore offers operational leasing of many types of cars on various contracts. With our leasing contracts, you do not have to worry about the residual value. With a GoMore leasing car, you avoid the obligation of having to buy or sell the car when the leasing period expires, because you simply pay for the right to use the car during the leasing period and have not taken responsibility for buying or selling the car. When your lease expires, you can just return the car.
Operational leasing is comparable to renting a car for a period of 12 to 36 months. You are not liable for the residual value, as you do not own the car, but in principle just rent it (also called lease) in the leasing period.
You pay a fixed monthly lease for the right to use the car, and with GoMore Leasing, service and insurance is always included. Operational leasing enables great security and spares you unforeseen expenses for the car.
Advantages of operational leasing a GoMore includes:
Low monthly lease including insurance and service. Rent it out on GoMore to help cover your costs.
Where will you be using GoMore?
