What are the benefits of car leasing?
Managing your money can be tough enough, without having to face the cost of buying a new set of wheels. Particularly as shopping around for the best car deal can take a lot of time and effort. All that haggling over the price and what accessories and features are included is not everyone’s idea of fun!
This is when car leasing really comes into its own. It’s easy, cost effective and can get you the gains, without the pains.
Financial advantages of car leasing
For many people, the biggest plus point of leasing instead of buying is that your outlay to get a replacement car (or even to upgrade to a better one) is much lower.
The chances are you will face a small and easily manageable upfront payment. Then, you can spread the cost of being fully mobile across the year. These monthly amounts are also likely to be far less than if you’re tied up in a car finance contract.
Just consider that for a minute; no stress or hardship from hefty car loan payments with a chunk of interest added.
You also won’t have your savings tied up in something that depreciates very quickly. According to WhatCar? most cars lose 50-60% of their value in the first three years on the road! That’s a lot of your cash draining away as you clock up the miles.
Leasing dispenses with all that, as you can budget for clear, affordable regular payments, that give you access to the car of your choice. You’re paying for its use, not for its value before depreciation!
Car leasing maintenance is seamless
The financial advantages of leasing a car don’t end there either.
The best car leasing contracts include maintenance expenses. Your regular payments have contributions included, so you avoid those shocking and sometimes unexpected garage bills.
To be honest, you probably won't keep the car long enough to worry about maintenance anyway, as you will read further down this article.
Is the monthly amount charged for car leasing good value for money?
Here’s an insider's tip on the topic. The best car leasing companies have firm and fruitful relationships with car brokers and major finance companies. They have a level of ‘buying power’ that individual car owners can only dream of.
This adds up to offering really good deals, even for high end vehicles and technologically advanced cars with all the latest gadgets and gizmos included.
Regular new cars, without hassle
The benefits of car leasing are not simply about keeping hold of your cash though.
One of the biggest car leasing advantages for many people is that you can update your vehicle every few years, with ease.
That puts you behind the wheel of the latest model, or a shiny fresh ‘smelling’ new car, without worrying about scrimping, saving or getting into debt.
It’s not just an ego boost either. Having access to a constant supply of brand new cars means you don’t have to rely on a vehicle that starts to age, becomes unreliable or which starts to mount up repair bills.
Lastly, there's a potential benefit of car leasing if you own a business, or use the vehicle for work. You may reap tax benefits. This depends on your earning level and the emissions ranking of the car you lease, but it’s well worth looking into!