You want a new car, so that you can easily get from A to B and go on a car holiday to the Costa del Sol. You are thinking of a private lease car; as that becomes increasingly popular, you have become curious about the possibilities. Private lease has many advantages, but also some hooks and eyes.
The nice thing about private leasing is that you do not have to put a big bag of money on the table in one go, you pay a fixed amount per month for the use of the car, insurance and maintenance. And of course you pay for refueling yourself. Over the past year there has been a doubling of private lease contracts compared to 2015. Many see the positive characteristics of a private lease car.
What is sometimes forgotten is that there are currently sharp rules around a mortgage. Are you planning to buy another house soon? Then it is wise to take this into account. Private leasing is seen as a loan since 1 July and therefore also registered with the BKR as operational lease, code OA.
Of the monthly pay they see 65% as financing and 35% for the insurance and maintenance of the car. The part financing lowers the maximum mortgage that you can get, 2% of the loan sum is noted as an expense.
Suppose you can get a maximum of € 180,000 in mortgage, of which the monthly payment is € 850, -. You also have a 3-year private lease contract of € 400 per month. The financing part is then: € 400 x 36 months = € 14,400 x 65% = € 9,360, – Of this amount 2% is used to calculate the burden, that is: € 9,360 x 2% = € 187.20.
Thanks to your private lease contract, your maximum mortgage per month drops from € 850 to € 662.80 (€ 850 – € 187.20). Depending on your other expenses, this amount may be even lower.
So are you planning to buy a new home soon? Then you better consider buying a car yourself, because the costs are not included in a mortgage calculation.
Do you want mortgage advice ? We would like to bring you in contact with an independent mortgage advisor. Pleasantly arranged.