MoneyMagpie

Jun 05

Six reasons why leasing a car might be right for you

Reading Time: 3 mins

Are you making the decision about getting a new car? There is no denying that getting a new car is a very expensive process and there are a lot of factors that you need to consider. Car leasing has become increasingly popular throughout the UK, but many people still don’t consider it as an option. There is no reason not to, however, as it has a huge range of benefits and can work out cheaper for you than buying. Here are six reasons why choosing to lease a car might be the right option for you.

 

It’s very easy to arrange

It has never been easier to arrange car leasing thanks to a number of businesses wishing to take the complexity out of the process. For some it is as simple as choosing the car you are interested in, selecting the lease options to suit your requirements and then ordering online. The rest of the process is handled by the car leasing business. So if you are interested in leasing a car, make sure you do your research into the companies as it can make a big difference not only to the price you will pay but also how simple the process is.

 

It’s cheaper than buying a car

One of the major advantages of leasing a car is that it is often cheaper than if you wanted to a buy a car. It’s worth remembering that when you lease a car you are technically only paying for the amount that the car will depreciate during the period of the contract. This means that it is much more affordable overall than if you were paying for a new car.

 

It’s a nicer car for a lower price

It is also worth noting that because you are only paying for the depreciation for the car, your money goes a lot further. This means that the money you would spend on buying a car can get you a far better car when leasing. For example, because premium brands such as Audi and Mercedes tend to depreciate at a slower rate than other brands, they can be far more affordable to lease than they are to buy. This means that you can potentially drive a far nicer car than you expect for the amount that you want to spend.

Many people who lease a car also enjoy the fact that they are able to get a brand new car every few years as when their leases ends they simple move onto another.

Leasing a car

 

There’s no need to worry about depreciation

When you buy a car you face the pain of depreciation – the car will be worth far less when you come to sell it than what you paid for it. For example, a car will have around 40 per cent of its new price after three years due to the depreciation. There is no doubt that the fact that you won’t need to worry about depreciation is one of the real benefits of leasing a car, assuming depreciation is an aspect of car ownership that bothers you.

 

You won’t have the hassle of selling your car

Of course one of the main frustrations of getting a new car is usually the hassle that you will face in selling your own car before you have to negotiate the purchase. With leasing, the whole process is far simpler, as once the lease is up the car is returned and then you can simply decide to either move on to another lease or buy a car outright. This can take away one of the most stressful aspects of car ownership.

 

The payment structure is simple

Finally, when you are leasing a car there is a very simple structure to the payments. The cost is fixed at the initial contract and this means that monthly budgeting is far easier for those who are leasing a car compared to those who buy.

When you own a car this can be very different as there are multiple different ways to pay and different aspects of paying for the car that you need to consider. So leasing really simplifies this entire process.

 

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