Car Leasing or Buying?
Car Leasing or Buying?
Leasing as an option against buying has won favor with many over recent years and some have returned time and again to renew their policy and lease their next car. The majority of people find car leasing a trouble-free experience, economically sound and a simple way to have a brand new car.
The benefits gained from leased cars are:-
• A brand new car every two or three years.
• Being able to afford more expensive models, normally outside your personal financial means.
• The avoidance of having to sell the car and deal with advertising, customers, auctions, etc.
• Paying a lower monthly figure than with a loan that can also include maintenance and servicing costs.
The only time you will have problems is if you are not fully conversant with the idea and terms behind leasing, or if your driving style is not suited.
1) Pitfalls of leasing are few, but for those who are likely to wish to end the contract early, drive more than 15,000 miles each year, feel the need to customize or alter your car, or just have the need to actually own your car, then perhaps leasing is not for you.
2) The best cars to select are the ones that are likely to have a higher resale value at the end of the contract. Brands with good residual values, a strong name and which aren’t prone to changing their models every year do well in the leasing market.
3) Get the best leasing deal you can. The best way is to negotiate your price up from the manufacturers “on the road” (OTR) price rather than coming down from the dealer's quote. See what extras and additional trim you can have included.
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