15 Benefits of Car Leasing
What is Car Leasing?
Leasing a car is when you take out a long-term hire of a car, usually for three years. You pay an initial amount (usually three-times the monthly lease amount or more), and then a monthly fee to lease the car. It is even possible to lease with no deposit.
At the end of the contract, just bring the car back and either start a new vehicle lease on a different new car or walk away!
Should you lease or buy a car?
There are plenty of advantages of leasing a car over buying – sure, you don’t own the car, but that also means you don’t own any of the problems that come with owning a car.
What are the advantages of leasing a car? Here’s fifteen!
1 – A shiny new car
There’s nothing more exciting in the world of driving than getting to drive a brand-new car.
There’s the smell, which is so enticing they even do air fresheners to replicate it, the bright clean invitation of new carpets, the comfort of settling into a new seat and the knowledge that everything just works.
If you’ve been driving used cars ever since you passed your test, then the experience of a new car will delight you.
2 – The opportunity to drive a car you thought you could never own
The superior finance option of a leased car means that you can quite often afford to lease a car which would be far too much of a stretch to buy outright.
Not only does this mean enjoying a better car than you might have considered, but can also mean a car better suited for your purposes.
[Mercedes C-Class Saloon]
Ever wanted a sleek two-seater to look good and give the right impression when turning up at a prospective clients’? Or desperate for a seven-seater minivan to fit all the kids in and have a spare seat for when one of their friends wants to come over for a sleepover? What about the additional luxury of an executive saloon for those long thankless drives across the country?
It may have seemed impossible to buy, but it’s within reach with a lease.
3 - Change after contract
Being able to have a different car every few years means you can adapt to the latest changes in your life (perhaps your family has grown, or work is going well - meaning a more luxurious vehicle is desired), as well as gain advantages in advances in technology and safety.
Or you might just be looking for the same thing in gold!
4 – The ability to budget
Managing your monthly outgoings is an important part of modern life, and by boiling all your car-related costs into a single monthly payment, you can make sure the money is properly allocated and you don’t have to worry about any unexpected costs rising from nowhere.
Whether it’s a long-term or short-term car leasing deal, the consistency of payment is going to help your personal book-keeping.
5 - No depreciation
Depreciation – the car owner’s fear! When you drive a car with a long-term car lease, you never have to worry about depreciation or resale value. Simply return it after your lease contract is over and move on to something new and leave all that equity consideration for someone else.
6 - No maintenance
With the added options of a maintenance contract to supplement your lease, you can do away with every little car-ownership worry. Servicing? Tyres? Get a contract to cover everything at a small cost (around £20 depending on the deal) and enjoy just driving.
Maintenance contracts give you that financial peace-of-mind to know that you really will never be surprised by any additional expensive costs – ever!
7 – Lower fuel costs
Newer cars with newer technology have much better fuel consumption than those with a few tens of thousands of miles behind them – plus there’s the range of hybrid and electric cars available to really cut down on fuel. Rather than opting for a used car that is immediately cheaper but costs in the long run, get something that’s at the top of its efficiency game.
Is it worth it to lease a car when it takes your running costs down by 50% or more? Simple answer - yes.
8 - Car reliability
Worried about being broken down on the motorway, or stuck without signal in the middle of the night down a winding country road? With a leased car, the chance of a breakdown is significantly smaller.
Your new car will get you where you want to be without any drama and if it does have a problem (nothing is ever perfect), the optional breakdown cover that you can add to the contract means you are going to be rescued as a priority.
9 – The very latest technology
With new cars comes new technology and while a decade ago that may have meant little more than improved sat nav or a better set of stereo speakers, today - technology is everything.
There’s parking assist technology taking the stress away from the parallel park, or lane assist systems that stop you drifting on the motorway. Of course, when it comes to technology, we’re not that far away from full artificial intelligence systems on UK roads, meaning you let the computer drive while you relax.
10 – An impressive selection of safety features
Much of that new technology has been directed towards making cars safer and safer. Every year, the improvements are tangible and modern cars sport a huge array of safety features. Braking stability systems mean the days of aquaplaning are all but gone, and even a hard slam on the brakes is going to be responded with by a smooth straight-line glide to a halt.
Sensors exist to make sure you don’t run into anything when reversing, and adaptive cruise control can match your speed to the vehicle in front, leaving a constant safe distance.
With these advances, your ride in a new leased car is considerably less risky than driving around in a car that’s years old or buying a used one.
11 - No sudden big costs
Having an older used car is a little bit like playing a daily gamble. You get in, wonder if today is going to be the day it doesn’t start and breathe a little sigh of relief when it does.
As your MOT date steadily approaches, you begin to worry about things like brake disks, the timing belt and the tread on the tyres. Worse, a light flashes on the dashboard indicating a problem with the airbag system and you’re mentally adding hundreds of pounds together to keep yourself on the road for another year.
When you lease a new car, there are no such thoughts. Under warranty for the life of your lease, anything major is going to simply be dealt with and when a car is that new, the chance of any issues are tiny anyway. There are no surprises, no sudden shocks and certainly no unexpected four-figure bills!
12 - No MOT
In the first three years of a car’s life, there is no legal requirement to have it checked for an MOT.
That looming deadline that marks a ticking death knell to an older car is simply not a consideration for you in all car leasing situations.
By the time the car is looking at needing its regular check-up, you’ve given it back and replaced it with something newer and shinier, always making the MOT someone else’s problem.
13 - No chance of a poor investment
A few years ago, the UK government was pushing everyone to buy diesel cars, touting their environmentally friendly emissions as being something strongly positive. A recent about-turn on that policy has left many people with diesel vehicles that are already becoming banned in town centres across the UK and look to become obsolete with increasing certainty.
If you lease rather than buy a car, there’s no investment on your part that can suffer from policy changes or the ever-changing world. Three years in, you can swap your car for the next modern alternative – and with all the huge advances in cars that are taking place in the world today, that could mean something completely different. Maybe electric next time, self-driving a few years after that and then who knows? Reports on flying cars already exist!
With car leasing options, you can drive the car that’s right for the time and you won’t get left with a hard-to-shift poor investment a few years down the road.
14 - No balloon payments
One of the alternatives to leasing is, of course, car purchase finance. Personal contract purchase and hire purchase have all the advantages of car finance and are great ideas for people wanting to own a car, but the dream is typically shattered as the years of repayments come to an end and you are left staring a phenomenal balloon payment in the face.
Of course, when you took out the contract you believed that you’d save a little each month so that at the end, you could clear the cost of the car and drive away owning it, but the fact is that the money was never that spare, and as the contract comes to a close you are left with having to find thousands of pounds for a final payment or risk losing the car you believed would be yours.
With personal car leasing, there’s no balloon payment at the end of the contract. You go into the deal knowing that when the time is up, it’s a new car upgrade and not some scrabble for final funds to keep a car you have outgrown anyway.
Why buy when you can lease your next car?
15 - Get a great deal on leasing a car
Tens of car manufacturers, hundreds of car models, thousands of cars. With leasing companies across the country wanting your custom, it only takes talking to an expert to sift through them and find an incredible deal and you could soon be driving around in something you didn’t believe could be in your grasp.
At Complete Leasing, we will find you a great deal. The best car leasing deals in the UK are at our fingertips. Why lease with Complete Leasing? Because our incredible range of partners means it’s not like making a choice from one leasing company, it’s like making a choice from all of them!
Let us show you why car leasing is a good idea. Give us a call today and our car leasing comparison system will jump into action right now to find the car that’s perfect for you.