Why Leasing is a Better Option than Buying Where Cars are Concerned

Next to buying your home, a family car has to be the most expensive item that you will ever purchase.  It is one market where the prices always seem to be rising rather than dropping, even in a recession, so perhaps this is why more and more people are choosing to lease a car rather than make the heavy financial commitment of buying one, which could tie up their finances for years.  With a well negotiated lease, contract leasing a car can almost always offer better value for money in the long term rather than purchasing a vehicle outright.

Vehicle Depreciation

As soon as you commit to purchasing a car it will never be worth the money that you pay for it again; as soon as you drive it off of the sale lot it starts depreciating in value.  In some cases the value of a car can reduce by half within the first twelve months of ownership, which is essentially money down the drain.  On the other hand when you are leasing a car you don’t have to worry about the cars value, the fee that you will pay the leasing company every month will probably never amount to as much as the depreciation value of a new car over the same period of time.  Plus with a lease car, depending on the package, you may not have to worry about maintenance charges, road tax costs or MOT bills, whereas these can greatly impact the amount paid during car ownership.

Travel Expenses

Many companies these days rely on their employees to travel around the country securing business or supporting existing contracts.  Having to cover the fuel allowances for drivers using their personal cars can be very expensive so issuing employees with lease cars can be a very cost effective option as discounts are often offered when more than one car is leased at any time.  One of the great benefits of using a lease car is that the new cars have all of the latest technology in them.  If you have had your own car for a couple of years it is understandable that the in car technology will have moved on since you bought it.  New lease cars have all of the up to date gadgets such as integrated satellite navigation and inset touch screen technologies that makes them a much more attractive option and much more fun to drive. With the cost of buying a car ever on the increase more and more consumers are opting for car contract hire services over buying a car outright from a dealership, saving them money and offering them an excellent choice of vehicles with the very latest in in-car technology to get them on the roads.