Besides getting a shiny and brand-new car, the advantages of car leasing extend beyond that of new car ownership. Positives such as increased reliability, modern safety technology, avoiding a depreciating asset and avoiding pitfalls of used cars are all advantages of car leasing. In this article we’re going to discuss the 5 benefits of car leasing.
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Drive a brand-new car for less
Getting a brand-new car these days can be a pricy proposal. One thing that a lot of people don’t realise is that buying a car is the second biggest purchase you will ever make besides your home mortgage. So, with this in mind, it makes sense to make that price as low as possible.
Car leasing makes owning a new vehicle far cheaper than outright purchasing or even some other forms of finance, such as PCP. These days it’s actually possible to drive a £50,000 Audi or Volkswagen for less than £350 per month. On a two-year deal this comes to £8,400 total. This means you will spend just over 10% owning a brand-new premium car for 2 whole years.
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Drive a reliable car with all the latest safety technology
On today’s busy roads safety is number one. And manufacturers are constantly trying to put as many forms of security and safety tech into their cars as possible to entice customers to buy. New cars have much, much more modern safety tech in them compared to older used cars.
This is what makes car leasing perfect for those seeking the best cars with regards to safety technology. Car leasing is only available for new cars, that means whenever you do lease you’re getting a car with the latest and most modern technology available on the market. And you’re getting all of this for an affordable monthly price.
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Your outgoings never change and you can budget accordingly
Some customers might be worried that car leasing involves hidden costs and charges, or unnecessary spending. But this actually isn’t the case. Car leasing costs never change according to what has been set up in the contract. For example, if your initial rental (your deposit) is £1,000 and then your monthly fee is £200, the £200 will never change for the entire contract.
The only time you may have to pay extra money is when you go over your allotted annual mileage which is chosen by you when you set up the contract. But even that figure is small. For example, excess mileage charge is most commonly between 1 – 10p per mile. Let’s say you did 2,000 extra miles over your allotted mileage and your excess charge was 8p for that car. That would equal £160 in total excess mileage charge. That’s really cheap for those 2,000 extra miles!
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Take your time browsing for deals as car leasing is an online only purchase
Car leasing is done primarily online rather than walking into a dealership. This means you can take your time looking for the best car leasing deals available through various different companies. This helps to avoid the trips to the car dealerships, where pressuring sales tactics are employed in order to make you purchase a car there and then. Car salesmen will use emotional tactics on you, such as letting you test drive the car and then reeling you in afterward with ‘good’ deals (which it turns out aren’t so good!).
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Cut out big motoring costs from used cars
Since car leasing is only for new cars, you will avoid the pitfalls of used cars that usually have many things wrong with them. Being privately means that sellers can hide issues with the car that aren’t noticeable until you have driven the car for a while. Dealerships can also do the same and give you a small warranty, unless you pay out a big deposit for extra months. It’s not uncommon for used cars to suffer a major breakdown (especially those with lots of miles) and you will need to spend thousands to get them back on the road.