We all want to make the most of our money - and that goes for whether you’re running the finances for a business or for your private life.
Luckily for you, leasing provides numerous financial benefits. And it provides convenience and peace of mind - see for yourself or contact us on 0845 052 5268 for a fleet review alternatively send us an enquiry.
1) Avoid massive depreciation costs
In the past, you may have been horrified by the amount your car or van is worth when you’ve come to sell or trade it in?
Vehicles have depreciated more than ever in the past year - and it looks like it’s only going to get worse. Do you really want to own something that’s dropping so sharply in value?
With leasing you are only paying to use the vehicle, thus avoiding ownership for the total depreciation costs. Read more about how leasing works.
2) Low monthly payments
One of the main benefits of leasing is that monthly payments are much lower than if you were financing the total cost of the vehicle - this allows you to spend or invest your money elsewhere.
Or, most commonly, it means you can afford to lease a more desirable vehicle!
3) No huge initial outlay / deposit to save up
Your deposit (initial payment) is usually around 3 x the monthly payment. This means that you don’t have to save up a huge deposit.
4) Fixed price motoring
You’ll pay an agreed amount each month for the vehicle. This payment will remain the same throughout your contract - so you can budget accurately.
5) Additional leasing benefits for businesses
If you’re thinking about a business lease or if you have a fleet of vehicles - there are even more financial benefits for you.
Convenience & peace of mind
1) Road tax is included
Don’t want the hassle of remembering when your road tax runs out? Find taking a trip to the Post Office to renew it an inconvenience?
Road tax is included in the lease of a car or van - for the duration of the contract. And to make things easier for you, it’s posted to you directly each year.
NB: Lease Purchase, Finance Lease and Personal Contract Purchase (PCP) agreements include road tax for the first year only. Also, some finance companies are starting to pass on increases / decreases in road tax to the leasee.
2) No need to sell your vehicle
Don’t enjoy advertising your vehicle in the Autotrader and selling it yourself? Don’t want the hassle of time wasters and negotiating to get the best price?
If you buy a vehicle, when you come to sell it you either have to deal with the above or you can go to a dealership and accept a low payment in part exchange. Neither is ideal.
With a lease, you simply use the vehicle for an agreed period of time - usually 2 or 3 years. And at the end of the lease, the leasing company will just come and collect the vehicle. At this point, most people take out another lease and enjoy driving a brand new car again.
3) Covered by warranty
Another benefit of leasing is that your vehicle will always be covered under the manufacturer’s warranty (providing the lease is 3 years or less and within the warranty mileage - usually 60,000).
This gives you the peace of mind that should a fault occur with the vehicle - you can take it to any of the manufacturers own franchised dealerships for repair.
4) Add a maintenance package
A maintenance package will provide you with a fixed monthly cost for your maintenance. Packages include full cover for routine servicing, tyre replacement and exhaust replacement.
Maintenance packages offer convenience. And you won’t have to worry about costly and unexpected servicing and repair bills. Read more about leasing maintenance packages.
1) Drive a brand new car
This is one of the main benefits of leasing to private individuals. Looking good in front of your family, friends and colleagues is a great feeling - isn’t it? Leasing gives you the option to drive the latest and quite often the most prestigious branded cars.
For businesses, turning up to client meetings in a brand new car will do wonders for the image of your business. It will make your business look successful and if you do a high mileage, driving will be a much more comfortable and pleasurable experience.
For companies with a fleet, leasing your vehicles will help with the ever increasing regulations for safety and duty of care.
Like the sound of these benefits? Want to discuss leasing further? Why not send us an enquiry?
Disadvantages of car leasing
Leasing is a great way to get a new car. But there are some disadvantages - as there are with all ways of buying a new car. Find out more about the disadvantages of leasing.