Finance: 6 Benefits of Leasing a Car

Due to a change in career direction for Sam we now no longer have his work car. This isn’t a huge problem a lot of the time but there are days when life would be so much easier if I had a car when Sam is using ours for commuting. At the moment we don’t have the capital to purchase a second car, so if we decide we would like to be a two-car family again then we’re thinking about leasing a vehicle with a company like Blue Chilli Car Leasing.

Leasing a Car gives you more reliability

Unlike when you own your own car when you lease a car all the major repairs are covered under the agreement with the lease company, this includes a courtesy car for the duration of the repairs. It means that if you rely on your car for work you’re always going to have one. Lease cars are newer too, on average a lease agreement is around 5 years, so your car will not often be any older than that! Younger cars are less likely to break down too, as their engines are newer and have endured less mileage.

Mange your Money

Once you’ve signed your agreement you know what your monthly payment will be for the term of the agreement. Add insurance and fuel and that’s it. No unexpected repair costs, no new batteries, cam-belts or air conditioning re tunes! If you can’t afford a lump sum to purchase a car outright then spreading the cost over monthly payments can be an affordable way to drive a new, reliable car. Plus if you’re VAT-registered and pick business contract hire you’re able to reclaim 50% of the total payments made and 100% of the maintenance package costs. Generally the monthly payments on a lease are lower than the finance payments if you bought a new car using a dealer.  With a lease agreement you only pay the car’s depreciation for the lease period, not the value of the car. You can also get money back if you scrap your old car.

Enjoy the latest features

Because you can choose from a selection of new to the market vehicles you can take your pick of cars with the latest technology. Automatic braking, parking cameras, white line warnings, the latest innovations in sat nav and audio are all things you can choose to include, model dependent! Now of course these are not a necessity but can really make a car fun to drive, and make life easier for you too! For example, i’m not great at parallel parking, so a car with parking sensors or a parking camera would be very welcome to me!
 
 

 

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