Thursday 15 August 2019

Is Leasing A Car Right For You?

Traditionally,  the majority of people would buy their car outright when they first got it. This is why so many people choose to go for second-hand vehicles, as they are often a lot more affordable to buy outright than a brand-new auto. However, things are starting to change and these days there are a lot of people choosing to lease out a vehicle. 

When you lease a car, you will have to put down an initial deposit and will then make monthly repayments for a set period of time. Most people’s leasing contract lasts for two to three years. Obviously, this can be an attractive way to get a car if you can’t afford to buy one outright. But is it always the best option? Here are some situations in which leasing a car might be the best option for you.

You Know Your Mileage Will Be Low

If you don’t think you will be using your car too much, then you should be fine with a lease. When you first approach a dealership that offers leases, like, you will need to say how many miles you are likely to cover in one year. This will affect how much your monthly repayments will be. For instance, most leases start off at 10,000 miles. If you think you will do more than this, you will need to tell the dealership as they will increase your mileage allowance and also increase the monthly payments accordingly.

You Want To Get A New Car Every Few Years

Most people who buy their car outright will keep it for a number of years. Do you like the idea of changing your car more frequently? You probably wouldn’t be able to do so if you did buy a car, but it shouldn’t be a problem when leasing. At the end of your two or three-year contract, you will be able to trade your auto in for a newer model if you wish.

You Don’t Want To Take Care Of Any Maintenance

Find it frustrating having to deal with mechanics when there are issues with your car, such as the ones mentioned on Well, you won’t have to worry about that if you lease. You will probably get a brand-new or near-new car when you do take out a lease, so it will probably still be in warranty for the time you have it. That means you can simply take it back to the dealership when there is an issue with it and they will sort it out for you. It’s best to check that this is in fact the case when you do take out a lease as they are all different, and some might not cover their cars with warranties. 

You Don’t Want To Deal With Selling A Car

At the end of the lease, you simply return it to the dealership. There’s no hassle of trying to find a new buyer for it and haggling on the price!

So, is leasing right for you?