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Auto Leasing vs Acquiring - which is ideal for me?
The concern of lease vs buy arises for many people when they are thinking about getting a new car or van. This needs careful consideration whether you are looking for a company vehicle, opting out of your company car scheme, or looking for a private vehicle read more here .
If you have purchased your vehicles in the past, you will probably be aware of how much they depreciate over time. In fact, most cars will have lost at least half their value by the time they are three years old. This is one of the most powerful arguments against buying vehicles view it .
If you lease a car, you do not need to worry about depreciation as, with most lease contracts, you do not own the vehicle and can simply hand it back at the end of the term. There are, of course, other End of Contract Options available to you such as purchasing the vehicle or extending the contract, depending on the type of lease you choose.
Benefits Of Auto Leasing
When comparing leasing versus buying, consider the benefits of Auto Leasing.
The main benefits of leasing a car are easy budgeting of your motoring costs, low initial outlay and monthly payments compared to purchasing a vehicle, easily change your car every two or three years, and no further commitment when the lease ends. In addition, businesses benefit from improved cashflow, tax advantages and VAT relief.
Buy vs Lease - considerations that will help you decide
To help you answer the lease versus buy dilemma, leasing a vehicle would probably suit you if:-
You want to know exactly how much your motoring will cost you every month You don't want any surprise bills for repairs, routine maintenance or MOTs You like to drive a new car every 2 or 3 years You don't want to worry about how fast your car is depreciating You only want a low initial outlay to acquire your new vehicle You have a good idea of how many miles you drive each year You tend to look after the car you drive, as lease cars are subject to weblink a Fair Wear
