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73% of people lease. Find out why.

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Lease or Buy?

This is the most frequently asked question when it’s time to renew your car. The answer lies somewhere in between, how much budget you have to spend and whether you want a brand new or used car.

Stating the obvious: “If it can appreciate in value – buy it, if it will depreciate in value – lease it

If you are looking for a new car, regardless of the budget, we recommend leasing is the most sensible and affordable choice over purchasing outright.

Business

Taking out business lease cars for your company is probably the most beneficial choice you will make in terms of finance. If your business is VAT registered you can claim this back for starters, for mains you are setting back from spending a big some of money and utilising it in a more beneficial way to enhance the business then to put the icing on the cake for dessert you can afford to buy something to impress you clients which you can regularly upgrade every 2 years or so.

Personal

This is where you can be a little picky at choosing whatever suits your requirement but affordability plays a big role when you consider personal lease cars over purchasing outright. If you are not considering of keeping your car for more than 4 years than it’s little point of dealing with the hassle of selling it when you can simple return it to the finance company.

The depreciation value on a new car for the initial period of 2-4 years is something that you can’t steer away from so why not finance it and use it to your advantage while you keep the bulk of money in your interest savings account?

Whether it’s for business or personal, with car leasing the reasons are plenty and justified, here are the key benefits and also a few points to consider that may rather support the option of buying.

Leasing

  • Drive the car you desire at a fixed monthly budget
  • Minimal capital expenditure
  • Hassle free maintenance packages available
  • Road tax included on most deals
  • Upgrade at the end of your lease term
  • On-going advice and support
  • Options to buy at the end of term with a balloon payment on “contract purchase”

Buying

  • Full Ownership of the vehicle as an asset
  • Invest further in customisation and personalisation
  • No restrictions on usage, insurance and modifications
  • No extra payments of administration fee and finance related interest

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Posted on 7th October 2015 at 4:03 PM

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