The Advantages Of Leasing A Car

Posted on March 18, 2013 · Posted in Insurance Guides

It’s human prerogative to want the best with your money and that’s why, when it comes to buying a car, leasing is definitely the thing to do. Leasing a car will provide you, as a driver, with some huge benefits including saving money while also driving a brand new car.

One of the major advantages of choosing to lease a car over buying new, is the fact that you avoid the depreciation. As soon as you drive a new car out of the showroom it loses a massive amount of its value – some cars will lose  as much as half of their original cost – so by leasing a car, you avoid losing this huge amount of money.

Secondly, when you lease a car you will also benefit from really low monthly payments, which work out a lot less than the amount you would pay if you owned the car. The amount that you pay each month depends on the car you choose but with some cars the payment is as low as £80 per month. This not only means that you could save a lot of money but it also means that you can probably afford a car that you could only dream of if you were buying your own.

Another money benefit is the fact that you don’t have save up a lot of money for a deposit; some companies don’t expect a deposit at all but this generally means that your monthly payments will be higher. If you are expected to pay a deposit then most of the time it is between one and three times the monthly fee that you will be paying, so not much at all.

Paying the same amount for the car through the entire contract – usually three years – means that you can budget ahead with your finances as well as saving money in the long run because you don’t have to account for many of the maintenance costs that you would if you were to buy a car.

Taking out a car lease generally means that you avoid all of the maintenance costs that you would expect if the car was your own. Driving around in a brand new car means that you don’t have to worry about car tax – as at least the first year is paid by the company – or an M.O.T and a lot of the time the leasing company pays for your servicing; if they don’t it’s a small price to pay considering the amount that you will be saving in the long run.

Article written by Joe Clarke who recommends www.joeduffy.ie for Audi dealers in Dublin.