Whether it is better to buy or lease a car is an argument that has been around for a long time. There are lots of advantages to leasing and if you are still not convinced, here are some benefits of car leasing that might change your mind.
A better car than you could afford
One of the big advantages of leasing is that the payment is worked out based on the residual value of the vehicle at the end of the contract. This means that cars that hold their value well can offer surprisingly attractive lease terms. You may therefore be able to afford to run a much better vehicle than if you were buying.
Running a car can cost more than you think. With a lease you have a single monthly payment to make over the two- or three-year period of the lease. You can opt to include maintenance in this payment, which means that opting for car leasing can give you control over your motoring costs with no unexpected surprises.
No up-front payment
When buying a car with a loan you will usually have to come up with a sizeable deposit. There is no need for this when leasing, as you will usually only have to pay a few months’ rental in advance; therefore, there will be no need to dip into your savings as you would when buying.
One of the big car leasing benefits is that there is no need to worry about low trade-in values. If you already own a car, you can simply sell it and enjoy the cash with none of the hassle of trying to negotiate a good price with a dealer.
No worry about depreciation
When you buy a car the biggest cost is depreciation, which is the amount of money you lose when you come to sell the car. If you try car leasing you don’t have to worry about this. You simply hand the car back at the end of the lease and take out a new deal if required.
There are plenty more benefits of car leasing and it pays to examine the options carefully. Some people don’t like the idea of not owning the vehicle themselves; however, if you can overcome your doubts, leasing can be a very attractive option.