The Benefits of Car Leasing
The popularity of car leasing is growing year on year and the car industry is also in a period of continual growth, which means there are more cars than ever on Britain’s roads.
So, why is car leasing so popular, you might ask – the answer is simple. Leasing a car gives you the opportunity to drive around in a brand new car, built to your exacting specification, for a fraction of the price of its true cost – find out how below.
Car Leasing Saves you Money
If you choose to buy a car outright, you’re parting with a lot of cash that it might not be practical for you to be without.
As most new cars cost upwards of £15,000 and this isn’t the type of cash people tend to have to hand, you’re left with two options. You either use the cash you do have to buy a used car, which might not be to the same spec as the vehicle you originally hoped for, or you take out a finance plan on a brand new car.
If you opt to buy a used car, you’re losing £1,000s in an instant and if you opt for a finance plan, you’ll have a hefty deposit to pay along with high monthly payments until the full value of the car, plus interest, is finally paid off.
What’s the Difference Between Car Leasing & Finance?
When you take out a lease you’re essentially only paying for the depreciation value of the car. Your monthly payments will depend on your annual mileage, the length of your contract and the initial payment you wish to make but because they’re only covering the depreciation, rather than the full value of the car, a lease car payment will be much lower.
As an example, if a brand new car costs £20,000 and you take out a three year finance deal, you’ll have to pay £20,000+interest over three years. With a lease, the same £20,000 car might only depreciate by £7,000 over three years which means that during your three year lease you’ll only be paying for the £7,000 depreciation.
Brand New Car Regularly
If you buy a car outright, the likelihood is you’ll be stuck with it for a fair few years because it’s not something you can afford to get bored of.
With car leasing you’ll have your car for a maximum of four years (minimum of two years) and when you reach the end of your lease you simply hand it back - no fuss, no mither, and more importantly, no selling fees. What’s more, it means you’ll never get bored because you can change your car every two, three or four years too.
Worry Free Driving
Every lease car is brand new - we simply don’t deal with used cars – which means that all of our cars come with a manufacturer’s warranty as standard.
What Does This Mean for You?
So, you drive away your brand new car and for some reason, a few weeks or months down the line something goes wrong. Whether it won’t start, you’ve got a dashboard that’s lit up like Blackpool illuminations or any other kind of problem, you can simply take your car into a manufacturer dealer to be repaired at no charge. That’s right, no huge repair bills that’ll break the bank.
That’s not all though; with all of our car leases we offer a maintenance package which covers servicing, breakdown and tyre replacement for the duration of your contract. The cost of this service will depend on the lease car you choose but this, coupled with the manufacturer’s warranty, essentially means that you only need to worry about insuring the car and filling it full of fuel.
If you’re still a little unsure about car leasing and feel you’ve got a few more unanswered questions, check out our FAQs page, or give the team a call today on 01565 880 880 and they’ll be more than happy to help.