In today’s economic climate, it’s no surprise that many motorists are concerned about the amount of money they spend on their cars. This includes everything from price, to fuel costs, to road tax, insurance and maintenance – the figures soon add up! Cars are not the cheapest of expenses, but after all, are important in the day-to-day lives of many.
What many motorists want is to not see their money going to waste with the car they own. With such an emphasis on cost-cutting in both the business and personal world, car leasing as oppose to outright purchasing of motor vehicles has grew in popularity as individuals, families and businesses look to make the most of their hard earned cash.
What Is Car Leasing?
Car leasing is practically the process of paying for the ‘use’ of a vehicle over a designated period of time, as oppose to owning the vehicle. Think of it like renting a house or flat. These monthly payments are based on the residual value of the vehicle. This is simply an evaluation of the car’s value and its likely value at the end of your lease, taking into account depreciation.
These lower monthly payments are often more attractive to motorists as oppose to the cost price of buying. It’s important when looking to lease a car or van for business or personal use, that you entrust the services of a reputable and well-established car leasing company. Their expertise and experience in providing cheap car leasing for motorist will be of huge benefit in ensuring you receive the best deal on the vehicle you want.
Can You Save Money?
Money is often the deciding factor when it comes to making a decision between leasing and buying, so what are the financial benefits?
#1 – Low Monthly Payments
The overall expense of purchasing a car outright can often leave a significant hole in one’s bank account. What leasing incorporates in much lower monthly payments that are more manageable and allows you to utilize your other expenses as well as budget accurately thanks to fixed price motoring. What it also means is that you can drive a newer, safer and more attractive car without breaking the bank.
#2 – Avoid Depreciation & Selling Hassle
As soon as a car rolls of the production line, depreciation comes into play. This is often the problem when people are looking to sell their cars on. This can often be much lower than what you originally paid. Taking out a lease on a vehicle will mean that you avoid any depreciation costs as you will have no need to sell your vehicle at the end of your contract. Your vehicle will be collected and you are free to take out another lease.
#3 – You’re Covered!
The maintenance, servicing and repairs that vehicles undergo are often some of the most costly expenditures. When taking out a lease, you will be covered under the manufacturer’s warranty giving you peace of mind should you come across a problem. You can also add maintenance packages including cover for routine servicing, tire and exhaust replacement and other repairs.
The benefits are there to be taken, as well as being able to drive a brand new car that before you wouldn’t have dreamed of. So what are you waiting for, belt up and drive your financial worries away!
source: everythingfinanceblog.com
