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8 Reasons to Lease Your Car Instead of Buying

Nowadays a car is a vital possession to many people, especially families, and more and more of us are learning to drive and getting behind the wheel. That means more and more people are being faced with an important question: I need a car, should I buy one or simply lease one?

People commonly buy cars without considering the option of leasing, which has many advantages over buying. When you buy a car, unless you have a lump sum of cash to pay for it in full, you probably need to buy it on finance, meaning you make monthly re-payments in order to pay back a loan that was used to buy the car.

If you lease a car, all you’re effectively paying is the cost of the depreciation of the car (how much it goes down in value over time) because you never own the car. This means the monthly payments for leasing can be up to 60% lower, allowing you to drive a car you wouldn’t be able to afford to buy.

As well as this, the same as with your phone contract, leasing allows you to get a new car every 2-4 years on average, meaning you’re never stuck with an old outdated car. And not only can you move on to new cars with no strings attached, but you can plan your finances with confidence as monthly payments are fixed, so you know exactly where you stand.

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Posted on 21st July 2016 at 5:16 PM

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