We all know that buying a new car can be a very expensive business, particularly if you’re after something a little flashy. There are several things to consider before you purchase one – do you go for a new or used model, what type of vehicle do you go for and which manufacturer seems to be the most reliable one.
In more recent years however, another option is becoming ever more popular – leasing. More people every year are deciding to opt for this rather than actually buying a car outright. There are several reasons for this, and here are the top five advantages of leasing a vehicle.
Monthly Payments
Buying a new car and even some used cars can require a very large upfront payment, which could take years to save up for. When you lease a vehicle you will only pay a small cost upfront and the rest over monthly instalments, which is much more financially viable.
Better Cars
If you choose to lease, more options become available to you. Even if you have £12,000 saved for example, you could only buy something like a Ford Fiesta brand new. For that amount of money you could be driving much larger and more expensive cars on a lease deal with better engines.
All In One
You don’t need to worry about of the expenses associated with driving when you lease a car. Road tax, insurance and the cost of the vehicle are all covered under one monthly payment which makes things much more manageable.
Switch It Up
Another advantage of leasing is that you can get a new car every few years, which means you won’t get bored of the vehicle you’re driving and you won’t have to pay for MOTs either.
Depreciation
When you buy a new car, it loses value the minute you drive out of the showroom with it as it is no longer new. This isn’t a problem with leasing; you don’t lose money on the vehicle’s value. You can just trade in your Ford Kuga for a BMW 3 Series at the end of the lease.