Buying or Leasing
Which Is Best?
Each year the number of businesses and individuals selecting Car Leasing as a method of financing a new car or van is on the increase. One of the main reasons for this is they are fed up with the high depreciation rates of most vehicles. With very few exceptions the majority of cars end up being worth between 30% and 50% of their purchase price after three years, therefore leaving the owner with a loss on his capital outlay.
Comparing Car Leasing against Buying, leasing can be much more cost-effective. The total cost of your lease is usually less than the amount that the vehicle depreciates over that time. There are many ways you can save money on your next car lease in particular if you opt for one of the Special Offers most manufacturers provide. Not having to worry about the depreciation is not the only benefit of leasing a car, other criteria to consider are:-
- Your motoring cost will remain constant each month
- You will update your vehicle every 2 — 3 years
- No bills for routine maintenance or MOTs
- Low initial payment to acquire a brand new vehicle
- No hassle to part exchange or dispose of your old vehicle
Car Leasing is a cost effective hassle-free way of running a new vehicle which is appealing to both businesses and private individuals alike.
If leasing a brand new vehicle appeals to you the next thing to consider are the different types of leasing which are available.