Why You Should Consider Leasing a Car

There can be no doubt that keeping a car on the road has become more expensive than ever in recent years. The global economic situation has seen a knock-on effect on fuel prices and the numbers over the pumps at forecourts throughout the UK seem to be on an ever-increasing curve.

The cost of fuel is only one of the drains on a driver’s pocket, with insurance costs steadily rising above the rate of inflation and road tax now being a significant outlay.

This is before you start to take into account the actual cost of purchase either new or secondhand, and the associated maintenance outlay that are inflicted by garages and repair shops.

The idea of car leasing has long been established amongst the business community, but today it is something that should be considered when thinking about making a car purchase. Obviously it won’t be a good fit for everybody, but you might be surprised at some of the benefits that leasing can provide.

Of course, the first thing that you avoid is any depreciation in the value. When you buy a brand new car, the moment you drive it off the forecourt it is worth thousands of pounds less than it was only a few moments before. When you lease a vehicle you are only paying to use the car, you don’t actually own it, so you never incur any negative aspects of the effect from depreciation.

Also, when you buy a new car there is a considerable initial outlay or deposit, whereas most leasing deals have a deposit that is three times the monthly payment. This makes budgeting easier and puts a range of choices into your sights that might not be available otherwise.

If you are buying a car outright on a finance plan, as well as a hefty deposit you will find that the monthly installments are substantial. Leasing costs are generally far lower than if you were financing the total cost of the vehicle, meaning that you can often choose a class above what you might initially have thought you could afford.

It isn’t just the purchase costs that are mitigated though. There is a great deal of

Convenience, as well as peace of mind, to be found in the fact that road tax is generally included in the lease of a car or van for the duration of the contract, although it is always best to check that this applies to the company with which you decide to deal.

One of the big traumas about owning a car is what to do with it when it comes time to change for another vehicle. Most of us hate the idea of selling a car privately and know that dealers will not necessarily have our best interests at heart. When you lease you have the use of the vehicle for the agreed timeframe, usually 2 or 3 years. At the end of the contract, the car is returned to the leasing company, who will even come and collect it.