Car Leasing – Is it a better option than buying?

We’ve all been looking at cars recently in the WMA office  and in particular car leasing.   (We’ve also been looking at bicycles too, but that’s another story!).

We all seem to have different opinions about the advantages and disavantages of buying a car versus leasing a car and vice versa.

At this point we decided to seek professional advice and spoke to Simon England from car leasing specialist CarLeasingUK.com.  We asked him to give us some advice on what we should be looking out for if any of us are going to lease a car.  We found his answers really useful so have decided to share them with you here:

• Leasing a car removes the hassle of having to market and sell the car when you wish to change or upgrade your vehicle.  At the end of the lease agreement you can hand back the keys and essentially walk away (or if you’re like us, look for the next latest model and sign up!)
• The cost of leasing a car usually includes most of the maintenance for the car, so you won’t have any large unexpected bills to pay if the car develops a fault.
• The deposit needed to lease a car is usually less than what is required for a new car, also, if you can afford a larger monthly payment you may be able to get a higher-priced car than you would be able to purchase.   This is ideal if you suddenly have a need for a bigger car, maybe a new baby or a new job that requires travelling.
• Choose a maximum annual mileage that suits you and what you will be using the car for.  Excess mileage can incur extra costs so it can be worth taking the time to work out how many miles you are likely to drive over the year and allow sufficient miles for any holidays or weekend driving you may be likely to undertake.

After speaking with Simon we are all now considering car leasing as a serious option as opposed to buying, making our lives easier and saving money are qualities we find difficult to ignore!