Consider Leasing Rather Than Buying
Depending on how regularly you drive, it may be worth considering leasing rather than buying a vehicle in order to save money.
Leasing is a longer-term rental. Whereas rental companies will loan you a vehicle for a few days or weeks, a lease can see you ‘borrow’ a car from a dealership for a few years. The typical lease period is two to four years and involves a deposit followed by monthly payments.
At the end of the leasing period, you’ll hand the car back. Sometimes you may be able to buy the vehicle if you want, but usually, you’ll need to take out a new lease or consider other options.
While leasing a vehicle can help you save money, it’s not the right choice for everyone. You should weigh up the pros and cons of leasing and buying to see if it makes financial and practical sense for your situation.
Benefit of leasing
If you’re looking to save money, then leasing a car could be the answer.
Arguably the biggest benefit of leasing is that payments are generally lower when it comes to monthly payments and up-front costs. If you buy a car on finance, the monthly repayments are typically more expensive than leasing. Plus, initial deposits are normally lower with a leased vehicle.
While drivers who lease a car will still be responsible for maintenance and repairs, usually you’ll be provided with a newer vehicle which offers longevity and is less likely to suffer from wear and tear – meaning you’re less likely to have to fork out for costly repairs, too.
When you lease a vehicle, you can choose the expected miles you will drive each year. Most leases come with the option of a 12,000-15,000 miles per year allowance. You can estimate how much you’re likely to drive, with cheaper costs for those who drive less.
Leasing vehicles also gives you the opportunity to change your car more regularly than you would do if you buy it. A great advantage for people who are motoring enthusiasts and may want to drive different cars.
The Windscreen Company works across the West Midlands and the South East. We can provide leading windscreen repairs or replacement services to vehicles of every make and model. To find out more, contact us at The Windscreen Company today.