Over the last 5 years, there has been a well-documented financial crisis across the globe. Banks have tightened down on lending, which has left people having to make the most of every penny they spend.
Buying a brand new car has been quite far down on the agenda for a lot of people. Not only are new cars expensive to run when it comes to fuel, repairs, MOTs and other related costs, but they also rapidly depreciate in value from pretty much the minute you have the keys in your hand.
Car leasing has become a far more practical choice with those wishing to enjoy all the advantages of a new car, but without the hefty overheads of buying one outright.
What is Car Leasing?
Car leasing is a lot similar to renting a house; whilst you have full-use of the car, someone else is ultimately responsible for the maintenance and preservation of the vehicle. Although you can’t take advantage of the vehicle’s capital value, you do have a number of other advantages.
Drive a brand new car, without the cost!
People can often be put off the price of buying a brand new vehicle, and also the rapid rate the value of the vehicle will fall over the coming months and years.
Car leasing allows people to enjoy driving a top-of-the-range car, without having to stump up the cash upfront and worry about the cost of depreciation. Meaning you can choose from a range of cars that would normally fall outside of your price bracket.
Leasing arrangements also allow people to change their car for a new model quite frequently, which provides customers with the reassurance that they will always be driving a reliable vehicle. With cars become less dependable as they become older, leasing takes away the risk of things going wrong and provides you with added comfort.
Repairs can be covered within the leasing package!
Leasing agreements can provide people with a stylish car, without the need to worry about the cost of repairs or maintenance.
Maintenance is the most imperative option to consider adding to your lease agreement –because the finance company will take away the risk of you have to pay for any high-priced and unintended maintenance costs – you don’t actually own the car, so you are not liable for repairs!
Monthly payments you can afford!
Monthly payments are usually much lower in lease agreements than if you were financing the whole cost of the car. This means less penny pinching, and allows you to invest your money elsewhere without worrying about hefty car payments!
Car leasing works out much cheaper for drivers than buying a brand new vehicle immediately. It is a no-brainer, especially when you compare the cost of buying a new car to the cost of a lease agreement. There is no way that you will find a car of the same quality for the same amount of money!
Lease agreements also carry optional packages that can take away the hassle of being responsible for a car’s continual maintenance, and the cost of repairing wear and tear.
So what are you waiting for? Get that dream car on lease and forget about all the financial headaches that come with buying a new vehicle.