Is it your dream to travel to far-away places? Do you like to spend less money driving a new car? If you want to pay less but drive a new one, try leasing a car. Leasing is the same as renting, but you are going to rent it for an extended period. If you want to buy a car but it is not worth it at present, you should consider leasing one. Most car lease providers nowadays offer the best deals you can imagine.
Although you need to undergo finance checking before being allowed to participate in personal car lease deals, opting to lease a car for 2 to 3 years could be worthwhile. You can even lease cars on high mileage contracts that are tailor-made for your choice. It means that you can drive the car during its maintenance-free years.
Reasons why you should lease a car
- Drive a new car. If you are that person who likes driving a new car, then leasing is the best alternative for you. Cars depreciate continuously, so buying a new one is not worth it after making the initial loss on depreciation. You can even have access to the latest features and updated accessories by trading your old leased car for a newer car year-in, and year-out.
- Less upfront money. In the past, leasing a car came with a hefty initial payment. Today, you only need to pay a small amount of money upfront. What is surprising is that you can find car lease providers that do not require a down payment at all.
- Drive a safer car. When you lease a car, you are driving a safer and more reliable car. Newer models are equipped with the latest safety features which are compliant to the present safety regulations that older models lack.
- Spend less on maintenance and repairs. You can expect to spend less on the maintenance and repair of the car you are driving when you lease a vehicle. You can enjoy the manufacturer’s warranty because you are driving a new car. Because newer cars need fewer repairs, you have the luxury of getting the basic maintenance services like oil changes and free maintenance consultations.
- Monthly payments are expected to be lower. As compared to buying a new car which comes with a high monthly amortisation value, you pay a smaller amount when you lease a car. It is because you only pay for the car’s depreciation during the period of the lease.
Things to remember
There are a lot of benefits when you lease a car. Instead of purchasing a new one, considering personal car lease deals can be a better option. But you need to know that this is not an option for every individual, as you need to go through a credit check. This is the initial stage before you lease a car. You need to pay a higher charge when you obtain a low credit score. Assuming you do not request additional mileage, you still need to stick to the mileage limit offered by the car lease provider. Before you sign the lease contract, it will be your responsibility to calculate how far you drive on a yearly basis.