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If you are in the market for a new car, you may want to consider leasing. There are a lot of benefits to leasing which makes it more appealing than buying your own car outright or on hire purchase. It is important that you know what these benefits are because they will help you make an informed decision.
Drive A Better Car
When you lease a car, you will generally be getting a better one than you could afford to buy outright. This is due to the fact that you only have to pay the depreciation for the lease period and not the overall value of the car. Leases work in this manner because you do not own the car during the lease. When you compare leasing to other forms of auto finance, you will find that the monthly payments are lower. If you do not want to drive a better model, you can get the car you want for even less.
When you own your car, you will be responsible for all of the maintenance costs. This can be a nightmare if you do not know of a reliable mechanic or if you are very busy. With a lease, the company that you lease the car from will be responsible for the maintenance. Of course, it is important to note that not all companies will provide you with a maintenance service. You will need to check the terms of your lease to ensure that this is included. Some companies will charge more for this service than others and you will want to shop around. In terms of maintenance, your car will also be covered by the manufacturer’s warranty. This is something that all leased cars have because you will only ever lease a new vehicle. If you cannot afford to buy a new car, you could be facing a lot of maintenance issues because the older the car, the more work it needs.
Avoid Any Hassles From PCP
A lot of people look at PCP financing when they buy a car because it is cheaper than hire purchase. However, there is a major hassle that comes at the end of your PCP contract term. This is the determination of the final value of your car which you need to pay in one lump sum. This is something that you never have to worry about with a lease. At the end of your lease period, you can hand the car back to the leasing company and go on your way. You could also choose your next lease vehicle without any further issues.
Avoiding The MOT
Getting an MOT can be a nightmare, but with a lease car, you generally will never have to worry about this. Legally, all vehicles will need to have an MOT, but this only starts after they are three years old. If you get a 3-year lease, you will not have to worry about getting the MOT for the vehicle. Of course, if you opt for a longer lease, you will be liable for the MOT.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
T: 01752 753 950
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Select Vehicle Leasing
The Old Print Works
21 Burlington Way
Select Vehicle Leasing are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 806250
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Registered Office : Unit 11, The Old Print Works, 21 Burrington Way, Plymouth, United Kingdom, PL5 3LR
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