Is leasing really better than buying?

20th February 2024

Is leasing really better than buying?

What is car leasing

Car leasing allows you to get a new car on your driveway for a specific period of time by paying just a part of the vehicle’s value in fixed monthly payments. At the end of the lease contract you have the choice to either extend the contract, swap your leased car with a newer one, or simply hand back the keys and walk away.

Why the hype

Car leasing is proving more and more popular nowadays as many businesses and individuals look for ways to ease their cash flow. New vehicle technology and intelligent features are making new cars highly desirable to car lovers. Leasing gives you the ability to drive the latest makes and models at a fraction of the price of a new car if you were buying it outright.

Pros of car leasing:

- Drive around in a brand new car

- Affordable monthly instalments

- Flexible plans that let you tailor your contract according to your planned mileage

- Save time and money on maintenance and repairs

- Road tax and insurance covered

Is it for me?

If you are running a business and need to provide company vehicles to your employees, or provide them pick and drop convenience for their daily commute to work, car leasing could provide an ideal solution. Not only will it help improve your cash flow by not requiring you to invest capital or savings in buying vehicles, but it can also take away the hassle of fleet maintenance and repairs.

If you are an individual, leasing can be a very attractive option as it can allow you to drive a brand new car with the latest tech and safety features. Moreover, you will enjoy the added convenience that comes with paying nothing in taxes or insurance premiums as they are included in the lease contract.

Further Reading