For many of us, when we think about having a car, we immediately think of buying a vehicle. But there is a different way – leasing! It was estimated in 2018 that 1.6 million Brits lease their car and we don’t doubt that that figure is even higher three years on. With this in mind, I thought I’d talk to you today about the reasons for leasing a car, rather than buying:
Believe it or not, the monthly cost of leasing a car is often cheaper than monthly finance payments. In fact, many people find that they’re able to afford a much nicer vehicle for their budget when leasing than spending the same money on finance. And don’t forget, most Leap vehicle leasing will allow you to buy the vehicle outright at the end, if you want to.
There’s that old adage about new cars losing a huge amount of value as soon as you drive them off of the forecourt for the first time, and that’s something that is definitely true. However, when you lease a car instea dof buying, the value of the vehicle is someone elses problem. Because you’ll be returning the car to the dealer instead of selling it, you don’t need to worry about losing anything when you’re ready to get a new vehicle.
Many new cars offer a warranty that lasts at least three years. So when you take out a three-year lease, most of the repairs should be covered. Leasing arrangements mean that you won’t have to worry about the expense of repairs, should something go wrong with your car. Also, new cars don’t require MOTs for the first three years either, so you won;t have to factor this into your budget.
That New Car Smell
There’s nothing quite like the feeling of driving around in abrand new vehicle, and that’s a feeling you get to keep when you lease a car – when the lease is up in a few years, you can return it and get your next new car. This means that you’ll always have a new car which is maintenance and MOT free, too!
No Need to Sell
Are you the type of person who hates to haggle? If so, you probably hate the idea of selling your used car to a dealership or a private buyer. With a lease, you simply return the car. The only thing you have to worry about is paying any end-of-lease fees, including those for abnormal wear or additional mileage on the vehicle, but this is something you can keep an eye on yourself throughout the lease, so you should have a rough idea of what these charges might be.