Still wondering whether leasing a car is right for you? Recently, personal car leasing has become much more popular in the UK and there are plenty of benefits to it. Here are our top 10 reasons why you should consider a lease next time.
1. Get a great deal
Car leasing companies operate as independent vehicle brokers, continually getting the best real-time deals from all the major finance companies and dealerships in the UK. This means they can offer some of the most competitive market rates available, helping drive your monthly costs down.
2. Drive a better car
Lease a car and you’ll invariably find you’re driving a better vehicle than you would if you had bought one. Why is this? With a car lease you only pay the car’s depreciation for the lease period, not the value of the car (because you don’t own it). As a result, your monthly payments are typically lower compared with other forms of finance, so you can lease a better vehicle.
3. Drive a reliable car
Worried about not getting to work or the airport because your car might break down? The older cars get, the less reliable they become. Lease a car and that won’t be a problem because you’ll be driving a brand new model. What’s more, if something does go wrong, the car will normally be covered by the manufacturer’s warranty.
4. Enjoy the latest technology and safety features
Because you are driving new, you benefit from the latest in-car technology manufacturers are introducing. Recent popular additions include things like Autonomous Emergency Braking to help prevent crashes, MirrorLink that syncs your smartphone screen with the car, and even night vision.
5. Avoid tying up your money
Billionaire oil tycoon J Paul Getty said: “If it appreciates, buy it. If it depreciates, lease it.” Lease a car and you won’t be sinking your savings into something that spends much of its life sitting outside your home losing your money.
6. Take control of your monthly vehicle spend
Apart from fuel and insurance, when you lease a car you know exactly what motoring is going to cost you because your expenses are rolled into one – monthly payments, Road Fund licence and breakdown cover. And if you include a maintenance package, your ability to budget becomes even stronger.
7. Cut out big ticket motoring costs
You’re driving a new, hence more reliable car, so it’s highly likely you won’t have to replace big-ticket mechanical items such as timing belts or aircon units. You probably won’t even need a new battery.
8. Avoid the hassle of the MoT
Cars don’t have to have an annual MoT roadworthiness check until their third birthday. By that time, the car will most likely not be your responsibility any more.
9. Avoid PCP hassles
With leasing you simply hand back the car at the end of the lease and you are free to choose your next new vehicle. Unlike PCP, there’s no haggling over the final, versus the estimated value of the vehicle. You avoid having to negotiate a part exchange with the dealership on your next vehicle or having to buy the car outright.
10. Avoid the dealership monopoly
Dealing with independent brokers who constantly review the market for the best rates, means you’re not being held captive to dealership finance. You also don’t have to trawl around car dealerships trying to work out which one will give you the best price – only to end up feeling like they all want to rob you.
Rex Leasing offer personal contract hire and business contract hire to Isle of Man businesses and individuals. Whether it is a van lease in the Isle of Man or car lease in the Isle of Man you are looking for, do not hesitate to get in touch with the team at Rex Leasing.