Over the years we have considered leasing a car – it has always been something at the forefront of our minds when thinking about changing a car. But why would people even consider leasing a car?
Many people, just like us, have had their cars that they’d bought that suddenly go wrong and then they can’t be saved. Perhaps they don’t have the money to buy a new car outright, even a used car but they need it for work or leisure. What do they do?
We are yet to lease a car but it is something we have definitely been thinking about these past few weeks. We have had a multitude of problems with our car this past month and know it is only a matter of time before it finally gives up. We don’t have the funds to buy a new car outright so leasing is one of our only options. Yes Lease are a company who offer leases and are one of the UK’s leading car leasing brokers. They often have low prices, great customer service and a very non salesy approach.
So why would you consider leasing a car?
- Often car leasing is a better deal. When you lease a car, you have a brand new car, brake pads and handbrakes are brand new, the car is under full warranty, there’s no car tax. You have a pre-agreed repayment each month and no nasty surprises. Your budget is easy to keep to. If you always buy older cars, you will end up having to deal with the multitude of problems older cars bring.
- Leasing rather than buying has some advantages. With leasing, you don’t actually pay for the value of the car, just the price the car will depreciate in value over the lease period. The other advantage? You only ever pay that monthly payment for it.
- A new car that is leased will be under warranty. As the finance company owns the car, it’s the responsibility of finance company to ensure the car manufacturer repair the car, as per the terms.
- For the first 3 years, you won’t need to MOT your car.
When it comes to buying, you aren’t offered half of the security of leasing. You’ll either be forking out a lot of money for a new car or you will be paying out cheaply for an older car which may end up with lots of problems. At least with a lease, you’re covered by a warranty. You also don’t pay for the whole value of the car with a lease – which you would have to if you bought the car new outright.
Would you ever consider leasing a car? Is it something you have ever done before?