As far as car finance goes, there are so many options and products on the market today that almost anyone in any financial situation can buy their own vehicle. That isn’t to say you should do that in all circumstances, but if you’re confident getting into a situation where you’re paying monthly for a vehicle and planning to keep up the payments comfortably in the long term, leasing a vehicle can actually be a very helpful solution. In the UK, you have the added benefit of knowing that your rights as a consumer are well-protected by the law.
Even if you don’t know that much about the idea, the best place to start is by looking for car leasing deals and shopping around to find a supplier that offers competitive pricing. Sometimes you will be able to get a price match guarantee for your peace of mind, so you know if you happen to find a better offer you can still take advantage of the saving. Compare some examples and find a few cars you like the look of to start getting an idea of pricing.
Once you reach this stage it makes sense to really get into the details of what you’ll be getting for your money and how this compares to other options, such as buying a car outright. Whether you’re looking for personal car leasing or you’re doing it as a business, the process and outcome will be very similar. In essence, you will be leasing a vehicle for a specified period of time for a fixed cost, usually paid on a monthly basis. You may be subject to a specified mileage limit too. Once the company you’ve chosen is able to establish a credit line and you complete the order process with them, you can have your car delivered and start driving very quickly.
The process of leasing a car can be a great way to manage the cost of driving a brand new car that you can change on a regular basis (many people will get a new vehicle after two or three years if they’re leasing it). Without the same requirement for a huge payment at the beginning of this time, like you would get with buying a car on your own, this usually saves a lot of money. A major benefit is that you don’t have to worry about the impact of the car devaluing over time. This is factored into the monthly payment which won’t usually change over the entire course of the lease.
We highly recommend looking into this option if you hadn’t considered it before, and seeing if you could personally benefit from leasing a car instead of buying. There are so many great car leasing deals on the market, and they change so often, that you’re pretty much guaranteed to find a great offer that suits you.