The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Should You Lease A Car?
Whether it is personal or business, balancing a budget can be difficult, especially with the cost of living and prices constantly rising. If you are a business, looking for way of getting company vehicles, you want the best deal for the lowest price. The same goes for individuals looking for cars for personal use. They also want to be able to afford a car for as cheap an option as possible.
Popularity of Car Leasing
Car leasing in recent years has become more and more popular for a variety of different reasons. The traditional route of buying a car outright or even getting a car on finance have become more and more expensive in the past few years. Car Leasing is seen as a cheaper alternative. The monthly costs are fixed and are usually worked out to be lower monthly than a normal finance option. This allows people to budget better.
For those who are looking for a better car, car leasing is a great way of getting one because of the lower monthly costs when compared with the usual finance options. But here are many other benefits to car leasing:
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The Benefits of Leasing
A STANDARD CAR DEPRECIATES BY 50 – 60% IN THREE YEARS.
AFTER 3 YEARS A FORD MONDEO IS WORTH JUST 36% OF THE ORIGINAL PRICE.
70,000 PEOPLE LEASE CARS IN THE UK
TOP LEASE CAR BRANDS OF 2015
EXAMPLE: FORD FOCUS, 24 MONTHS, £676 DEPOSIT
LEASE 225.60 per month
BUY 384.98 per month
LEASING PAYMENTS ARE TYPICALLY 30 – 60% CHEAPER THAN BUYING
ANNUAL GROWTH IN THIS MARKET 5% 2011 – 2016
59% OF CARS SOLD IN THE UK BETWEEN JULY 2014 – JULY 2015 WERE ON A PCP.
CREATED BY HIPPO LEASING