What is the contract duration or contract length?
The contract duration in leasing refers to the fixed term agreed upon between the customer and the leasing company, during which the customer is entitled to use the car. This period typically ranges from 24 to 60 months, depending on the customer's needs.
During this time, the lessee is responsible for making regular lease payments, adhering to mileage limits, and maintaining the vehicle in good condition, as specified in the lease agreement.
At the end of the contract duration, the lessee usually has the option to return the vehicle, make an offer to purchase it, or extend the lease under new terms. The contract duration is a critical component of the leasing agreement, as it determines the length of time the lessee will have the vehicle and impacts the monthly payment amount, the wear and tear expectations, and the end-of-lease options.
For new cars, lease duration of up to 60 months can be chosen. For used cars, however, there may be limits to the length the car can be leased. With gowago.ch, the maximum age a car is allowed to have at the end of the contract is seven years. Hence, if the customer chooses a car that is already four years old, the maximum lease duration will be 36 months (3 years).