How Car Leasing is Changing the Driving Game

With technology advancing rapidly especially in regards to how cars operate, with newer features and models. People aren't as eager to purchase cars as they used to, with another option such as leasing, they are now able to drive more expensive cars than they could afford once off, that has way better features than purchasing a standard car within their budget.

For more information on leasing fancy sport model cars such as the Kia Sportage in the picture click here to find a great deal!
 

Why People Prefer To Lease Then Buy

Purchasing a car is a once-off thing, you might need a little help from the bank with a loan and it's yours while still making the repayments.

Depending on the amount of money that you qualify for, you might not be able to purchase the car that you would like to have.

Leasing on the other hand allows for people to choose a luxury vehicle and pay a fee every month while they get to drive the car for at least three years.

In most cars, the leased car is a much higher option then what people would normally purchase and there are some added benefits which will be discussed further on.
 

Perks of leasing a car

Here are some of the perks of why people prefer to drive a leased car:
 

Driving the latest car model within the range

Leasing companies offer drivers the latest car models depending on what they have available and what you can afford to lease.
 

Scheduled maintenance

These cars come with warranty and have regular scheduled maintenance which can include free services like an oil change while you are leasing the car.

Within the first few months of the car, depending on the type of warranty and the car model maintenance is completely free. This is the result of the company leasing quality cars that they can trust to not come back in need for repairs.
 

Mostly first-time drivers

Since they offer new models, there is a very good chance that you might be the first person to lease the vehicle as well as getting a fancy model with low mileage.
 

Drive a high-priced vehicle

The vehicles leased are usually high-priced and have better features then the cars that might be within your budget to buy.
 

Don't have to worry about depreciation

Since you aren't the owner of the car, you do not have to worry about the car losing its value as you won't need to resell it in order to get something else.
 

Swop for another car once the contract is expired

A standard lease contract is three years, after that you have the option to either purchase the vehicle at a much lower price or trade it in for something newer and fancier.
 

Disadvantages Of Leasing A Car

There are a few advantages to driving a leased car.

• You are continuously paying instalments if you keep leasing a car after the contract ends.

• There is a limited number of miles attached to the monthly repayments. This means, the more you drive the car, you could be paying an excess mileage penalty.

• If the car is not in a good condition or well-looked after when your contract ends, you are liable to pay extra wear-and-tear and repairs that would be needed for the car to be in a good condition as you leased it.

• There are cancellation fees and termination costs involved if you should decide to cancel the leasing contract earlier.

• You are unable to make any major changes to the car, everything should remain in its standard condition.

• You might have to pay a fee after the contract ends and you aren't purchasing the car.
 

Conclusion

Despite some of the disadvantages there are when it comes to leasing a car.

Taking a car loan can take years before you are done repaying it and this can result in you having to drive the same car for a long time before you can even consider trying to resell or trading it in.

However, even if you manage to repay your loan quicker than the repayment period, your car would have lost most of its value and you might never make the money back that you spent on it.

Leasing is a much easier, do-able option if you are not willing to spend the time and money owning one car. You can find other leasing companies at https://www.findtheneedle.co.uk/