Now a days, people going towards leasing car instead of buying because that become more easy and clever way to drive a new car without any fear and benefits.
Car Leasing is very popular and future of owning new expensive cars and get change with another new car every two or three years. Car leasing, gives an option to choose your car with monthly fix payments for fixed contract terms. And return the car after contract and get new one with freedom of MOT and road tax.
Buy a new car of £20,000 plus finance charges, plus possible fees where as in lease of £20,000 car that will resale at £13,000 after 36 months (Called Residual Value), you pay for the £7000 difference over the 36 Month term which makes a better option.
Buy a expensive car with full price makes tuff where is lease, you can drive with fix monthly lease rate sounds clever and easy. In other way when you buy a car, you pay for the entire cost of a vehicle, regardless how many miles you drive. ..When you lease, you pay for only a portion that you ‘use up’.
Car leasing is increasing rapidly throughout the UK. Statistic says more than 70 percent of new cars driven on lease.
Benefits of leasing car
- Upgrade your different car models every few years
- Fully covered with maintenance
- No big amount of deposit required
- Drive a new car
What are the leasing options?
Mainly car leasing divided in two types – business and personal.
The main difference between two lease option are – business car lease deals comes exclusive of VAT where as personal car lease deals comes with including of VAT. For more detail read our business vs personal car leasing guide here.