If your car is nearing the end of its days or if you’re just in the market for something more updated, you might be wondering whether to lease or buy. If you’ve only ever bought a vehicle, you might wonder just what benefits are involved in leasing and just what it might entail. It’s important to always do your research and make sure you can afford the monthly payments, but leasing a car can be a great way to save money and also mean you get a much better vehicle than you might have otherwise. In fact, there are a host of reasons to lease a vehicle and we have put together just a few of them below.
You don’t have a large upfront payment
Something that often makes people worry about buying a new car is that they have to pay a large sum upfront and in one go. If you are leasing a car or purchasing a second-hand one such as from a company like edmunds, you don’t need to worry about this substantial cost. Often when you lease you just need to pay a few months’ rental price upfront as a deposit, then a set price each month, for a certain number of months.
Your car doesn’t depreciate over time
When you purchase a brand new car, it loses its value as soon as you drive it out of the forecourt. With a leased car this isn’t something you need to worry about as you aren’t going to be the one selling the car in the future. Instead, you will enjoy the car for the number of years in the contract that you have signed up for, then you will simply hand it back. Once you do this, it will be swapped for a new car meaning you get a new car every few years, complete with the latest mod cons and safety features, making it a great choice for you and those that travel in your car.
You can get a better car than you might be able to buy outright
If you have always dreamed of a fancy car but can’t afford to fork out thousands, a leased vehicle means you can do this without any hassle. As long as you pass the relevant credit and affordability checks you are able to lease the car you want at a price that is reasonable to you. There are so many vehicles to choose from and as stated above, you get to change them regularly. You will also be able to choose things such as its interior and exterior color, the spec, and more, making it truly feel like your forever car even though you only have it for a few years.
These are just a few reasons why leasing a car can be a better option for you than purchasing one upfront. If you are looking for a newer car that you might not be able to afford to purchase, do not have a large upfront payment, and to be able to change cars every few years, it’s a fantastic option for you.
