Before considering leasing a car, you need to look at your own personal situation and work out whether it’s the best option for you. Car leasing isn’t suitable for everyone and for some, buying a vehicle outright may be the best option, at least in financial terms.
However, here are a few of the situations in which car leasing could be ideal for you:
Any fan of cars would be bored and unhappy if they had to be stuck with the same model for years at a time. New and improved models are always very tempting, but it just isn’t cost-effective (not to mention being a real hassle) to sell your car and buy a new one every time you fancy a change. Leasing, however, allows you to switch cars without any of the hassle.
Sometimes, appearances really do matter. In the business world, for example, when you need to make a good impression on potential clients or customers. Showing up to an important meeting in a clapped-out car simply won’t do. With leasing, you can drive up to your meeting in a brand new model, often one that is only just on the market, but without the huge price tag.
This one can be tricky to work out, but a good way to do it is to sit down and take an hour or two to do your sums. Calculate how much your current car is costing you, making sure to factor in insurance, road tax, petrol, maintenance costs and any other expenses relating to the running and upkeep of your car. Then, do a little research online to find out how much it would cost to lease the same model of car that you currently have or a similar one (or better!) If it’s cheaper to lease, then your choice is very simple.
The whole process of looking for a new car, test-driving and actually buying the vehicle can be a real pain, as can advertising and selling a vehicle. You can miss out all of this and save yourself time, effort and stress by leasing.
This might sound contradictory, but the time when you actually have the cash to buy a brand new car is exactly when you should lease a car instead. Cars only drop in value from the moment you buy them, so spending your money on a new vehicle is not always a very profitable investment. If you were to save or invest the money you would have spent on a new car and go for leasing instead, you could make your cash go further and you’ll still have a fantastic car to get you where you need to go.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
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