What are the benefits of leasing a car?
More and more people are turning to car leasing as an alternative way to drive a brand new car. But should you lease your next car rather than buying it outright? Some of the key benefits of car leasing reveal why it is becoming a popular option for those looking for a new car.
Brand new models
When you lease a car, you can drive away a brand new vehicle every few years, allowing you to enjoy up-to-date models with innovative technology, improved safety features, and superior fuel economy. Leasing allows you to drive vehicles that would otherwise be out of your price range and gives you peace of mind that your car is reliable and safe. In addition, brand new cars do not require an MOT for the first three years, meaning maintenance costs will be lower.
Low monthly rentals
Depending on the model you lease, you can enjoy a brand new car for an affordable monthly rental. Monthly lease rentals are usually lower than payments on a car loan, making it easier to manage and factor into your budget.
“Enjoy brand new vehicles every two to four years with our range of the latest models.”
You don’t have to worry about depreciation
When you lease a car, there's no need to worry about the depreciation of the vehicle over time. The car still belongs to the lender throughout the lease period, so at the end of the agreement you simply hand the car back in good condition and walk away with no further obligations. You don’t have to worry about the lessening value or having to sell the car.
Lower initial rental
Buying a car is an expensive outlay. While car lease deals require an initial rental, this is usually significantly lower than the cost of purchasing a car outright. So, if you don’t have savings set aside for the purchase of a new vehicle, leasing a car may be an easier, more affordable way to manage your finances.
Fixed monthly costs
Leasing a car allows you to commit to a set monthly rental plan for the duration of your lease agreement, usually between two and four years. A set rental is easier to factor into your budget, as you know exactly what you will be paying each month.
“We deliver your car directly to your door and collect it at the end of the lease, for simple, hassle-free service.”
Some deals cover maintenance and road tax
In addition to a set monthly rental, some leasing companies allow you the opportunity to opt for an additional maintenance package to cover any repairs or damage to the vehicle. Road tax is also included in some car lease offers, giving you one less thing to think about.
Simple, hassle-free process
Selling a car when you are finished with it can be a nuisance. When you lease a car, you don’t have to worry about selling your vehicle on; you simply hand the car back at the end of the lease agreement and choose a brand new car.
Tax-deductible if you are self-employed or a business owner
If you own your own business or work for yourself, you can include the value of your car lease in your expenses and deduct it from the tax you owe. You can also claim back 50% of the VAT you pay, making business car leasing an extremely affordable way of driving away a brand new model.
There are many benefits to leasing a car. Eureka Leasing offers brand new lease cars to people with a poor credit rating, even if you have been refused credit elsewhere.