The Benefits of Leasing A Car Vs Purchasing One

So, it’s time to get a new car. This might be because your old one has given up, or it could be that you want something better. Maybe you have a family and need more space to accommodate this, or perhaps you want something a little sleeker. No matter the reason you’re looking to replace your vehicle, the main thing is getting the right one for you. 

The main decision you will need to make when getting a new car is how you are going to pay for it. Two of the main ways you can do this is through leasing, or purchasing a vehicle. There are benefits and minuses to both, depending on your lifestyle and what exactly you want from the vehicle you drive. Remember if you have a custom number plate, you can add this to your leased vehicle, but you need to speak to the leasing company and DVLA first. If you wish to sell your plate, get a number plate valuation first. In this article we take a look at both, focusing on the benefits of leasing a car over purchasing one.

You can switch your car up more often

One of the main reasons people like to lease a car as opposed to purchasing one, is that it gives you the chance to switch up your car more often. If you buy a car, you tend to run it to the ground, or keep it until the mileage is high.

With a leased car, you sign up for a certain term, such as two or three years and when this is done you will get a brand new car. This means you can get a new car with all the modern tech and specification every few years. It’s a great option for car enthusiasts!

You can get more for your money

One of the other benefits of leasing a car is that you can get more for your money. When you are purchasing outright, you can only spend what you have, so are restricted to your funds. When you lease, you are paying a monthly fee which is normally a few hundred, so you don’t need to save as much money upfront. This can make it easier if you want to budget.

If things go wrong, you can utilise a maintenance plan

Another benefit to leasing a car is that you can get a maintenance plan which covers you if something goes wrong with your vehicle. Some include things such as a service and MOT, covering if you need things like new tyres, or other fixes done to your vehicle.

These are just a few benefits of leasing a car over purchasing one, and should offer you some food for thought when it comes to selecting your next vehicle. Take a look at your finances, consider how well you budget, and think about what you would like to do going forward, whether you want to keep switching up the car you drive or if you want something long-term. What are some things you think are important to consider when getting your next car? Let us know in the comments below, we’d love to hear from you.