When driving past the car showrooms in your city, there’s bound to be that one set of wheels that stands out from the rest. The one that you really wish you had, but is just out of reach of your current finances. The truth is however, if you haven’t looked at all of your options then there’s a very good chance that the car is affordable – as long as it’s not way out of your price range. The most likely way of getting to drive to work in that dream car every week is through leasing. It may not be something you’ve considered before, but it’s definitely a good choice for many people.
Leasing is similar to paying out finance on the car in that you pay a monthly fee for a set period of time. The difference however is that rather than paying out to cover the full cost of the vehicle, you’re actually only paying for the use of the car over the time you’ve got it. Ultimately, this means that your monthly payments are going to be a lot less in most cases. That car you thought was out of reach could actually be affordable.
Many people assume that leasing means buying a sensible diesel commuter car, but this isn’t the case at all – there’s a lot available, whether you’re after a Range Rover Sport or Toyota’s sporty little GT86. Check out car4leasing to get an idea of what you could get if you decided to lease.
Things to Think About
Now, there are a few extra things to think about when it comes to leasing versus purchasing.
Once the agreement is over, you hand the car back, because you’re not paying to own it. While this might sound like a negative, it does actually mean that you don’t need to worry about depreciation, which is one of the biggest costs to consider when purchasing a new vehicle. You can simply move on to a new agreement. Some leasing companies will actually let you pay a lump sum at the contract end if you do wish to purchase the car for yourself.
Mileage is another thing that you need to bear in mind. Any advertised monthly costs will be for a specific mileage limit. This means that once you go over the limit in a year you’ll start to pay additional fees, so ensure that you know what that limit is when comparing the different prices of cars. Use a mileage calculator to work out the distance you’re likely to cover in a year.
So if you want to keep costs down on a new car, then leasing could well be for you