Car leasing is becoming an increasingly popular trend of late. If you are on the hunt for a new car, it could be that you have considered this as an option over purchasing. Below we have listed some reasons as to why leasing might be the right option for you.
The Lowest Upfront Cost for a Car
When purchasing a car, there is usually a substantial upfront cost that’s required in order to get the vehicle. When it comes to leasing, there is much more flexibility there. This means if you aren’t in the financial position to make substantial payments – that you go down the route of leasing a car. This takes away a lot of burden and pressure when getting a car.
You can get Better Models at Cheaper Rates
If you can afford a car but are a fan of specific manufacturers or models that are more expensive than what you are willing to spend, leasing could be right up your street. You can get some fantastic deals on premium cars with certain leasing companies. For example, you could get a Range Rover Evoque lease for a very affordable rate thanks to the deals offered by companies like Vantage Leasing– which means you can have an expensive car, but don’t need to worry about the big upfront bill. This is the same for lots of different makes and models – not just on a Range Rover Evoque lease.
You Don’t Need to Worry about Road Tax
In a lot of leasing deals, extras are included. This potentially means that you don’t need to worry about the additional cost of road tax, and often breakdown cover. Depending on the leasing companies you use – you could also get servicing included as part of the deal. This takes away a lot of extra costs that you would need to factor in if you were a car owner.
It Can Save Company Owners Money
If you are a business owner and are VAT registered this could come with its own benefits. If you lease a car, you can keep it off your balance sheet. This means that you can not only deduct the cost from your profit, as well as reclaiming 50% of the VAT. You will find that there are a lot of company owners that choose to lease due to this.
You Can Hand It Back and Get Another
Leasing a car is a very simple. After your contract is over, you can hand the car back to the dealer – and that’s your responsibility with that particular car over. This means you don’t need to worry about it depreciating in value. It also means that you are then free to enter a new lease agreement with a car that takes your fancy at that time.
Leasing a car has many advantages – so it’s definitely worth looking into as an option over purchase if you don’t want to make a significant upfront investment or like to take advantage of the latest makes and models.
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