You may already have a good idea of the benefits of car leasing – it is less expensive compared to buying your own car, it allows you to get a car that’s loaded with the best and latest features, and you don’t have to worry about the depreciation of the car after only a few years. But there are actually other reasons why car leasing has become a more popular option for many, and those in the know can attest to the reliability and feasibility of car leasing. So, what should you know about car leasing that makes it more than worth your while? Here are the top five reasons why those in the know opt for car leasing.
- Your money doesn’t have to be tied up
When you go for car leasing, here’s one thing that can really make your decision worthwhile: your money doesn’t get tied up. The thing is, cars will depreciate, and depreciate fast. If you buy a new vehicle, it will definitely depreciate by as much as 30% in the first year alone. It’s better to buy something that appreciates, and lease something that depreciates. That’s just how it goes. If you lease a vehicle, you will not end up spending your hard-earned money and savings on something which will be depreciating in the end.
- Know exactly what you need to spend per month
Of course, when you drive a car around, you will have to factor in expenses such as insurance and fuel every month. But leasing brings with it another benefit– with leasing, you know precisely what your expenses will be because all your car expenses are rolled into a single monthly payment, breakdown coverage, and your Road Fund licence. If you opt for an additional maintenance package, you can budget even better. You don’t have to deal with unexpected expenses which you may well get if you own the car yourself.
- Avoid other unexpected motoring expenses
As already mentioned, when you lease, you don’t have to worry about maintenance if you go for a maintenance package, and you can have better control over your budget since you know precisely how much the leasing costs per month. But here’s another thing: when you take advantage of personal car lease deals, you will have a new car, which means a reliable car, which means that you are less likely to deal with significant motoring expenses such as the replacement of air conditioning units or timing belts. You may not even need a battery during the entire time you’re driving the leased car around.
- No more MoTs
With vehicle leasing, you don’t have to deal with another hassle: an MoT test. As you may already know, an MoT test is required every year once a car reaches its third year. By the car’s third year, however, you may already be done with your lease package, so you don’t have to deal with that added hassle.
- No more relying on dealership financing and rates
Since you are working with an independent car lease provider or broker, you can be assured of the best market rates – rates that are truly competitive. You don’t have to be a slave to dealership financing, which can be quite crippling. You can also avoid going around different car dealerships looking to see if one can give you a better price than the other.
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