As the winter draws near and the days get colder you may find that your car is breaking down more often. You might notice the mileage is high, and you are struggling to remember how long you’ve had the car for. Once your car becomes old, and the mileage is high the vehicle will begin to exhibit signs of wear. The problem you will encounter here is that your car will then be at the stage where it experiences recurring problems.
You may well be able to take the car in and get it fixed, but the likelihood is that the same problem is going to crop up again at a later date. Once this happens it means the car is probably on its last legs. You may want to keep the car around due to sentimental attachment, which may mean taking it in for repair on a regular basis. But you may decide to cut your losses and replace your car with a new one.
If you are thinking about replacing your car or have already decided to then you will need to consider certain factors.
Most important among these factors will be deciding how you are going to get this new car. Will you buy or lease? New or preowned?
It is important to decide whether it would be more beneficial for you to buy a new car or to lease one. There are so many opportunities to do both and many facilities to allow for either choice. If you want to buy a pre-owned car, there are plenty of magazines and websites that allow you to do so. If you wanted to lease a car, you might consider visiting somewhere like www.leasingoptions.uk. If you want to buy new, you can always visit your local showroom. There is so much choice that deciding which route to take can be challenging.
Leasing a car is an extended rental period that allows the customer exclusive use of the vehicle at a fixed monthly price. Imagine you rent a flat or apartment, it works much the same way.
If you are looking to lease rather than buy a car then here are five reasons why leasing might be a preferable option:
One of the principal reasons for choosing to lease a car rather than to buy outright is the cost. Buying a car can be an expensive venture, particularly if it’s a new car. By leasing, it allows you to afford a car by making reasonable payments as part of the monthly payment plan. This means you don’t have the expense of having to pay a lot of money up front and instead can piecemeal payments over a longer period.
A lease plan can be particularly attractive for younger drivers who may have been in work a short period. Though they receive regular income, they may not have enough money saved to buy a car outright.
Think again about property. Most people cannot afford to buy a house or flat as mortgages are expensive, and most need a large deposit upfront. Renting a property gives more people access to affordable housing. Leasing works in much the same way.
Convenience will depend upon how long you plan to keep the car for and how often you will use it. If you are only going to be driving a car for a couple of years, then a lease is the preferred option.
It allows flexibility that you do not have when you buy a car. You can aim for short term with a lease and then if needed you can always replace the car with a different make or model when you renew your lease.
Leasing is almost always cheaper for short term. You can end up saving money because you are only paying a percentage of the cars value and not its full value. For example, a car costing £40000 to buy would be leasable for only a percentage of that.
Another advantage of this is that it allows you to get a higher quality car. If you were buying, it may be that you would have to select a car of poor quality and low expense to stick to your budget. By leasing, you can get a car of much higher quality and expense and still sustain payments on it.
Up To Date Technology
If you like to have the latest high-tech equipment and technology in your car then leasing will be a better option for you. If you buy a car and you want to update the technology or equipment you will have to pay big money. That’s if it is even possible to make those modifications to the car. But if you lease each new lease will come with a new, updated car kitted out with all the latest technology.
Because you are essentially renting the vehicle, you don’t have to worry about how often you are using it or about general wear and tear. The more often you use a car, the more it’s condition depreciates. When this happens, the value of the car will drop. You can always get repairs done, but these are an added expense and the likelihood of the issue happening again is high.
If you have bought a car then the upkeep and depreciation of the vehicle affects you as the owner. The onus is on you to sort out the problems, and it could mean taking a significant loss if you want to sell the car on again in the future.
When you lease a car this is not a problem because the dealer accepts the wear and tear of the vehicle. They will take the car back after it the lease ends and so it becomes their responsibility to address any issues.
This can be a useful arrangement especially if you use your car a lot in everyday life. General road wear and tear happens, and changes in weather can play havoc with a lot of vehicles. If you are a car owner, it may prove expensive for you to get extra work done to ensure the car is more roadworthy. In this scenario, a lease is most definitely the preferred option.