Unfortunately, motor vehicles are not invincible objects, and when your car decides it’s time has come and gone, it can be pretty devastating. Forking out the cash for a new car isn’t fun and games either – in fact, it’s not always possible, especially for those of us on tight budgets. Fortunately, there are other options available to us that can ease the burden, such as leasing; a great alternative to buying a new car outright.
If your car breaks down unexpectedly, and the only thing you can afford is an old banger, maybe it’s not worth taking on, as it’s likely to break down too. Instead you could be driving a shiny, new and more reliable car just with a different payment method as there are many great deals available out there.
Many people dismiss leasing thinking it’s not for them, without realising or contemplating the benefits. So here are a few reasons why leasing a car is a great option:
- Leasing a car might be seen as an option only available to those with years of driving experience under their belts but in fact, it is a very good option for young drivers. Being able to budget with fixed monthly costs and low up front payments takes much of the stress away of motoring and parents can rest in the knowledge their loved ones aren’t behind the wheel of a banger!
- The most obvious difference is that with a lease, you get a new car every few years and don’t have to deal with the hassle of selling the car later; just hand the keys over to the dealer and get a new lease.
- Leasing a car often has a lower monthly payment compared to financing a car with the same loan terms, since with a lease you’re paying for the depreciation of the car during those years rather than the whole vehicle cost. If you need access to more cash every month, leasing may be more favorable.
- There are other considerations, such as lifestyle ones (do you want to always have the latest auto tech?) and avoiding having to deal with hefty repair bills for an older car, in which leasing may seem more favorable,
- Family cars can be pretty expensive, but when that baby comes along with it’s pushchair, car seat and other bulky necessities, often a small car no longer works for a family. Families can’t always afford to buy a family car outright, which is why leasing is the perfect option.