Leasing, leasing, leasing. Vehicle leasing is a hot topic in the motoring industry as drivers begin to move away from the traditional method of buying and instead putting their pennies into leasing vehicles.
With so much choice about, as well as masses of competition, it can be hard to choose just what make, model and offer is right for you.
That’s why we’ve come together at Central Self Drive to help you know the full value of your vehicle leasing, and why less can sometimes mean more.
What is vehicle leasing?
Vehicle leasing is quickly becoming one of the most popular ways for people to get a new car. Effectively, you pay a fixed monthly sum over a set period (usually 2-3 years) to rent the car.
At the end of this period, you simply hand the car back and are free to choose your next vehicle. There’s no need to worry about depreciation, and as long as you stay within the agreed mileage per annum, and return the car in good condition you won’t face any hidden charges.
It’s perfect for those who like to constantly change their car, with it offering a far cheaper deal over the period than if you were to buy the car outright or through finance.
What car should I choose?
The beauty of vehicle leasing is that it provides a more affordable way to pick up the car of your dreams, but there are a few factors you should first consider before making the move.
Although this is something you have to worry about once you’ve decided, it can massively affect the pricing and offers available.
If you’re buying a car outright, then the higher the list price, the more you’ll pay, although vehicle leasing can sometimes differ.
This is down to the resale value, and if a car is likely to depreciate significantly, the company will want you to pay a premium for the lease.
Meanwhile, if a car or van is likely to hold its value, then you will usually find great deals about for that vehicle.
Take VW Transporters, for instance, these have long been popular in not only the industry but also for their ability to be turned into campervans. Due to this, deals can be easier to find on vehicles that aren’t likely to lose value after you’ve returned them.
Don’t be too specific about vehicle leasing
Ok, so you may know the make and model you want of a car, but sometimes being open-minded about the spec, colour and any other extras can help you get the best deal. If a car is already out there and waiting to be moved on, then you’ll have far bigger room for negotiation than having a custom made product with all the extras.
Consider the external factors
Seen a great deal? There may be a reason behind it. The initial costs may seem cheap, but by the time you’ve added in road tax and poor fuel efficiency, you could be wishing you’d have opted for the slightly higher monthly fees.
Cars that have offers may not be for a good reason too, the car might not be that good, so do take deals with a pinch of salt and make sure you do your research.
Our friendly team of experts will be able to point you in the right direction, finding you the very best value for your money.