Mon. Jun 17th, 2024
car ownership

Should you lease your next car? Here’s why the answer is yes!

Are you due an upgrade on your car? Do you need something quickly, but hate the hassle of saving for deposits and the huge costs that’s involved when financing a car? Renting could be your answer. Whether you need something small and nimble like an Audi A1, or you’re thinking bigger with a Range Rover Evoque lease, this kind of “car ownership” gives you the best flexibility and highest quality cars on the market, without any of the financial pain. Here are a few more reasons to lease your next car.

car ownership

1. You’ll save money

The first and most obvious reason for leasing is that it won’t cost you a fraction of what buying will. When taking out a car loan or a finance deal, you need a sizeable deposit as well as the stomach for the large payments with interest that you’ll pay each month. Leasing agreements require little to no deposit, and the monthly fees are far cheaper.

Plus, when you buy a vehicle, you’ll incur heavy losses thanks to the depreciation value on a car – with older cars it might not be so painful, but leasing allows you to rent brand new models which would drop by thousands the moment you drove them away if you were purchasing them. Leasing a new car for a few years is the best way of getting a luxury vehicle whilst dodging the financial issues1.

2. It offers the best flexibility

You never know what’s around the corner, so it pays to plan ahead. Do you see yourself changing jobs, in which case you’ll need to change from something economical to a car that’s built with commuting in mind? Do you see yourself starting a family in the next few years, so you’ll need a much larger car with strong safety features? Or do you have travelling in mind, where you’ll need to get rid of your car in a hurry?

In all of these scenarios, leasing is the best option by far. You can either swap your car for a totally different model, upgrade it to the newer version, or simply give the keys back, all without the stress of part-exchange deals or private selling.

3. You can change your mind

Changes in your circumstances is one thing, but you might genuinely not like the car you’ve picked – it might be the comfort, the practicality or that it doesn’t fit all your requirements like you thought it would. If this were a car bought by finance agreement, you’d be stuck with it for years, but when you lease a vehicle, you can test it out properly for a few months and then simply swap it. Leasing helps you to work out your vehicle priorities.

Plus, if it turns out you really can’t turn away from those luxury cars packed with the latest technology, let’s not forget that you can have it all for a fraction of the cost of buying it new – suddenly those expensive cars aren’t so unaffordable.

Tell us about your leasing experience by leaving a comment…