Are you ready for newer car but concerned about the cost? It can take a long time to save up enough money to cover the cost of putting down a deposit, let alone the full cost of the vehicle you want, and in many cases you may be faced with a compromise over what you want and what you can justify spending.
Part-exchange can help if you already own a car, but the depreciation in value will invariably mean you don’t get to subsidise the cost of the new vehicle by as much as you’d like.
Thankfully, there is another option. Car leasing deals can help you get more for your money and provide a long-term cost-effective solution. Here are just some of the ways a car leasing deal could benefit you:
1. Car leasing is usually structured over a minimum of 24 months and a maximum of 60 months. This allows car leasing firms to offer contracts that are based upon affordable monthly payments. This means you don’t have to spend months saving up. Your new vehicle is waiting for you to drive away as soon as your car leasing deal has been agreed.
2. Vehicle maintenance is usually factored into your contract. This tends to cover things such as tyres and servicing, so you can have peace of mind from knowing many of the regular costs associated with motoring are taken care of. It was recently revealed that automotive costs are the number one financial concern for Britons, so car leasing could be a great option.
3. When you buy a vehicle outright, you’re effectively losing money on it straightaway – especially if it’s brand new. While you would own the vehicle, you would end up having to sell or trade it in for less than you’d want. With car leasing, you don’t own the car. This means you don’t have to worry about the massive depreciation that can occur over the 24 to 60 months of your contract.
4. Because the monthly fee that you pay as part of your car lease deal is fixed, it will be easier for you to budget more effectively for your motoring costs. We’ve already touched upon the public’s concern about car costs, so having a reliable vehicle and a fixed fee will help you to plan.
5. Having to save up a lump sum of cash or taking out a loan could limit the choices you can make about which car you get. With great car leasing specials and deals available, you’ll be able to pick a nicer, more reliable and possibly brand new vehicle to drive away with.
Written by Chris Jones a keen blogger specialising on anything car related.