Five Benefits of Leasing a Car

Five Benefits of Leasing a Car

Photo by Benjamin Klaver on Unsplash

Buying a car can be a huge expense, especially if you’re buying a newer model. Unless you’re lucky enough to have a lump sum of money already, you’ll need to either save up, get a loan or buy on finance, which can work out more expensive in the long run. An alternative to buying a new car is leasing – there are many benefits to leasing a car, and here are just a few of them:

Lower Monthly Payments

If you’re concerned about the monthly costs, a lease  from a company such as Applied Leasing eases the burden a bit. Generally, the monthly payment is considerably less than it would be for a car loan. Some people even opt for a more luxurious car than they otherwise could afford, and this is perhaps the biggest advantage that leasing offers. 

No Maintenance or Repair Costs

Many new leased vehicles are covered under the warranty by the manufacturer for the entire duration of the lease. Under this coverage, the manufacturer or dealer may perform covered repairs, free of charge. Your lease may cover all maintenance issues, though, some may limit you to things like free oil changes. On the other hand, if you purchase the vehicle, you are responsible for all maintenance costs and all repair costs when the warranty coverage expires.

New Cars Every Few Years

If you’re constantly keeping an eye on the newest cars in the market, leasing is a great way to make your driving dreams a reality. Whether you like to keep up with the latest trends, or just want to ensure your car has the most up to date safety features, leasing takes away the hassle of repeatedly buying and selling. When you lease a car, you’re always getting a factory-fresh, brand new model. This means you are covered by a multi year warranty on your lease car. As long as your lease contract is 3 years or less, you don’t need to get an MOT either!

No Long Term Commitments

At the end of your lease contract, all you have to do is hand the car back with no further fees (providing you’ve kept to the T&Cs), or you can start again with a new contract on a new car. It means you’re not tied down to a long contract and there’s very little long-term commitment involved. You’re free to move on without having the hassle of selling or trading the car.

You’ll Be Safer

New cars come with new safety features, such as lane assist, reverse parking cameras, adaptive headlights and more. You won’t find these with older, used models, meaning leasing is one of the safest options available.

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