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The Benefits Of Car Leasing
posted on Apr 22 2014 by Kiri Nowak
Don’t know much about car leasing? Some people don’t consider leasing a car simply because they are unaware of the benefits.
Leasing is becoming so popular because it has so many benefits. It can reduce the amount of money you spend on your car and make your life much easier. Car leasing can often be over complicated when in reality it’s so simple. Here is an explanation of the key benefits explained clearly, without all the jargon.
1.Avoid huge depreciation costs
When you buy a new car it loses value as soon as you get it on the road. Car depreciation costs can be huge which means you make a big loss when you decide to sell your car.
A brand new Mercedes-Benz C220 AMG Sport costs £29,995. A three year old Mercedes-Benz C220 AMG Sport 2010 that’s done approximately 30,000 miles costs approximately £17,000. That’s just under half its value lost over around three years. Whereas leasing it will cost you £10,865 over a 36 month period, so you would save yourself a third of the cost. This is a massive difference and proves leasing is the more affordable option.
When you lease a car there is a lower upfront cash outlay. The deposit is generally lower than when you buy a car and you can contribute as much as you can afford. When you buy a car there is a large initial cost and it can be difficult to come up with such a large sum of money.
It’s generally cheaper to lease a car over buying one. As mentioned above a brand new Mercedes-Benz C220 AMG Sport would cost £29,995, but if you leased one over three years you would only spend £10,865, saving nearly a third.
4.Excellent deals on lease cars
As we are a long established company we have excellent relationships with manufacturers and dealers. We sell a large number of units which enables us to offer the very best deals. You can get some fantastic deals on lease cars.
5.Road tax included
Road tax is included for the term of your contract when you lease a car. That’s another cost you don’t have to worry about, saving you even more money.
With all new leased cars you will be covered by warranty. You will benefit from the manufacturer’s warranty meaning you don’t have to worry about forking out large amounts of money. It doesn’t include damage you do to the car yourself or wear and tear such as exhausts, tyres and brake pads. It does include mechanical breakdown and anything that goes wrong with the car that isn’t your fault. This is extremely reassuring knowing if your car has any issues you can simply go to the manufacturer or local dealer to get it fixed.
When you buy a new or used car it can be difficult to predict costs. Things can go wrong and you could end up having to pay a lot of money to get your car fixed. Then there’s the ongoing tax, MOT and Service costs you need to pay for. With a leased car you simply agree to a fixed monthly fee and that’s it, you know where you stand.
8.No need to sell
When you reach the end of your lease term you don’t need to worry about the hassle of selling your car. You just hand your car back and decide whether you want to lease a different one.
9.Get a brand new car
If you lease a car then you get a brand new car. You don’t have to make do with a second hand car that is likely to break down of develop faults. Treat yourself and drive away a luxurious brand new car.
10.Upgrade your car every few years
When you lease a car you can upgrade every few years meaning you never get bored of your car or have to put off getting an upgrade. Change your car every two, three or four years if you wish and make sure you always have the very latest models.
There are significant tax benefits if you are self-employed or own a business and use your car for business purposes. You can claim it as a tax deduction and get lower business deals.
12.Low maintenance and repairs
The maintenance and repairs are very low on leased cars because they are brand new and less likely to have problems. Fair wear and tear is accepted, you only have to pay for any damage you are responsible for.
13.Get a higher spec car
Taking the leasing route enables you to get a higher spec car. For example it costs £260 a month to lease the Mercedes-Benz C180 Executive SE. It costs £25,000 to buy brand new but with leasing you end up paying just £6200 over two years and then you walk away. It would take around eight and a half years to save for this car if you wanted to buy it.
Take a look at our website now to see our latest leasing deals and get a quote now.