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How Personal Car Leasing Can Be Cheaper Than Buying

Mar 18, 2008
Personal car leasing is a great option for those of you that want to drive round the latest model of car but do not want to be tied down to a loan or suffer the effects of depreciation. Cars are well known for losing value over time and new cars are particularly prone to this. It is reported that new cars lose over 15 percent of their value by simply leaving the showroom forecourt.

This means that buying a new car can be extremely expensive; especially if you plan to upgrade your car in a few years time. Many people are managing to avoid the effects of depreciation by utilising personal car hire. This type of car leasing is designed for the individual and unlike commercial car leasing is a great choice for individuals and families that want to benefit from a vehicle without having to have ownership of the vehicle.

Personal car leasing can make using a vehicle cheaper than if you are to buy one. It also gives the person leasing the vehicle a clearer picture about how much they will have to set aside to run a car. A leasing deal is usually arranged with monthly payments in mind and as a result the amount of money that the person pays out every month is very easy to track. This type of car use makes managing funds simple as the person paying the money knows exactly how much they have to set aside month to month. It is also possible to arrange a deal that includes insurance and maintenance cover so that you will never be hit by unexpected costs if something goes wrong.

The range of vehicle on offer for personal car leasing is massive. There are plenty of companies that offer this service and finding the right deal for you should be straightforward with the use of the internet. You can find deals on all types of vehicles for a number of different time variations. Typically car leasing contracts are arranged over a multiple number of months.

The most common type of leasing deal is set over a period of 24 months (two years). It is also common for deals to be arranged over a 12 month (one year) period and also a 36 month period (three years). The cost of the monthly payment is usually less if the arrangement is made over a longer period of time. This means that if you can prepare to take out a leasing deal over a longer period of time then it will probably save you money.

Pretty much every single type of vehicle is available for leasing and as a result you can use leasing to get your hands on the keys of your dream car. Because you are not paying off the cost of the car you are often able to afford a vehicle that would typically be out of your budget.

The monthly payments are often less than a repayment on a car loan and as a result you can turn the money you save into getting a bigger and better car. The vehicle will of course not become yours at the end of the time period but that may also work to your benefit as you will not have to worry about selling it on all you will have to do is hand the car back to the leasing company.
About the Author
Shaun Parker has been at the forefront of the car hire and personal car leasing industry for several years. He has arranged finance for hundreds of satisfied customers.
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