5 benefits of leasing vs buying a car
Getting a new car is a huge purchase, and there are many options you can take before you drive away in your vehicle. Leasing is an incredibly popular option that makes it quicker and easier for everyone to be able to upgrade their car. Here are just some of the benefits of leasing vs buying a car...
1. You get a brand new car
Tired of buying used cars that come with a heap of problems? Leasing allows you to drive away in a brand new car that may have been beyond your budget with a traditional car purchase. You have the peace of mind and warranty of a brand new car for a fraction of the upfront cost. Plus, you get the added benefit of having all the latest tech and gadgets.
2. Low deposit
On average, lease deposits are around 10-20%, but you can often find deals that are even less. This is a lifeline for many who need a vehicle to get around and don't have the time to save for months on end.
3. Affordable monthly payments
As well as a lower deposit, the monthly repayments also tend to be a lot more affordable than if you were to buy a car. There's also no need to worry about MOTs, as these don't occur within the first three years of the car's life. Plus, some lease deals allow you to add on pay monthly plans for annual services, so there are no surprise bills. Leasing is often an incredibly accessible way to make having a car achievable and affordable.
4. Avoid depreciation worries
Cars are a high ticket item, but they famously don't hold their value. Oil tycoon and billionaire J Paul Getty once said, "If it appreciates, buy it. If it depreciates, lease it." When leasing a car, there's no need to worry about losing money when the time comes to sell, as you simply hand it back in.
5. Hassle-free returns
Lease contracts generally last for three years. At this point you can simply hand it back to the dealership and take out another lease for another brand new car. It's a really simple process that means you get to drive away with an upgraded car every few years. Win win!
Leasing cars is a hassle-free and cost-effective car buying option for many people. If you'd like to begin your journey to leasing a car but are unsure where to begin, there are lots of experts out there who are on hand to help. For example, if you're after a Volkswagen, speak to a VW Car Lease Specialist to find your perfect model and lease deal.