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4 Great Perks Of Leasing A Car

by NewFrontiers
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Renting or leasing a car has become more popular than ever. This is especially true for business or professional use, but even for family and personal driving.

Across a range of products, services, and industries, renting is becoming increasingly preferable to buying or owning outright. But why is this?

Below, we examine some of the specific perks and advantages of leasing a car so that you can decide whether this might be right for you or your business.


What Is Car Leasing?

The contract hiring of a car is a type of leasing agreement. It refers to renting a car for a contracted length of time, but leasing is usually for a longer time than a rental.

Rental cars — such as for holiday use — are usually for a period of a few hours, days, or weeks. Leasing, however, is more likely to be for a pre-arranged period of 2 to 5 years.

There is a lot of flexibility and choice when leasing a vehicle, but be sure to discuss your needs and preferences with a reputable provider before signing any paperwork.

Many leases may also include a fixed mileage amount for the vehicle. This is so that they can control the depreciation and receive the car back in an expected state of repair.

Be sure to ask any questions you may have in advance, get clear on the best car and agreement to suit you (an advisor may be able to help you), and proceed on your new leasing journey!


The Future Of Driving?

With soaring interest rates, climbing car prices, and the cost of fuel and maintenance going up, car leasing has been referred to by some as the future of driving.

This is because of the control that you can get back in terms of your budget, maintenance costs, and added flexibility. Learn more in the points below!


1. Budget Management

One of the clearest advantages to leasing a car, as opposed to owning one, is budget management.

When you lease a car, you are far more likely to have lower and more manageable monthly payments than the monthly payments on a car that you own. This is because, with a leased car, you are generally only paying for the cost of depreciation and interest. With a purchased vehicle, you are paying for the cost of the car itself as well as interest, and this is likely to be much higher.

Monthly payments on leasing a car are also likely to be fixed. This means that they will not fluctuate for an agreed amount of time, leaving you able to budget and plan ahead without being hit by unexpected costs and fees.


2. Low Maintenance

Leasing a car can often incur fewer maintenance costs. Be sure to check your agreement, but many lease agreements cover maintenance costs and fees as standard. This is a great way to save money on the overall cost of a car, which can be very expensive to maintain.

Owning a car not only involves the cost of regular maintenance, but it can also involve having to find money quickly to cover an expensive problem unexpectedly. With a leased car, this can be covered in your agreement, leaving you with greater peace of mind should anything go wrong.

In recent uncertain times, budgeting has become increasingly challenging, with car owners often caught out or being forced to sell. A leased vehicle can come with less risk and a lower overall cost.


3. Flexibility

Leasing a car can give greater flexibility than full ownership. You have the option to switch to a completely different car after the agreed time has passed.

This can be essential if your lifestyle, budget, or professional needs have changed. Perhaps you have even started a family! Your lifestyle is also likely to change over time, whether that means more business trips, increased family time, or even spending your holidays road tripping around Europe!

Whatever your lifestyle entails, a leased car can provide the flexibility you need.


4. No Selling Burden

A distinct advantage of leasing a car is also the ease with which you can return it. If you tire of a car you own personally, this can often be the beginning of hassles such as selling, haggling, advertising online, and more — all of which can lead to greater expense.

Returning a leased car is easy and seamless, and you can choose whether to begin another lease, take a break, or continue. The choice is yours!

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