Want a cheaper way to drive your dream car? Leasing may be right for you!
In contrast to purchasing a car through a bank loan, leasing lets you drive a brand new vehicle of your choice at a fraction of its purchase price. Think of it as renting a car over an extended period of time – leasing contracts are typically good for a span of two to four years.
The great thing about leasing is you only pay for the vehicle’s depreciation during the lease term, thus your monthly payments are considerably lower. Once your contract expires, you can return the vehicle, pay any lease-end costs and simply walk away. Alternatively, you could finance the purchase of the vehicle or lease a different model or make.
Does a car lease make sense for you?
There are a number of considerations to keep in mind when deciding if leasing is right for you.
Firstly, taking out a lease makes sense if you want a fixed monthly payment and a lower upfront cost. Upfront costs typically include a refundable security deposit, a down payment, the first month’s payment, registration, taxes and other fees. Meanwhile, monthly payments include rent charges, taxes and fees.
Secondly, if you know the distance you will travel or you can estimate it as accurately as possible, then leasing may be a good option. Most leasing contracts have mileage limits, so it’s important to know this number to avoid any excess mileage charges. The good news is we at PJ Leasing can help you select the mileage that’s best for your circumstances.
Thirdly, leasing is best if you want to drive a different car make or model every few years. The car ownership belongs to the lessor, so you don’t have to worry about depreciation or resale at the end of your contract.
Lastly, if you plan to customise your vehicle or if you have kids or pets that may damage the interior, purchasing your own car might be a better option. With leasing, any custom parts or modifications you add will need to be removed before you return the car. In addition, any residual damage will have to be paid or fixed by you. That being said, if you can keep the car in good condition until then end of your term, you have nothing to worry about getting a lease contract.
Drive away in a brand new car – for less!
At PJ Leasing, we offer the most competitive deals in the UK! We provide professional advice to help you choose the best deal to suit your circumstances.
Contracts are written for all makes of vehicles.
If you don’t have a specific vehicle in mind, you may want to check out our range of different makes and models:
- Alfa Romeo
- Aston Martin
- Chrysler Jeep
- Land Rover
For all car leases, PJ Leasing will cover free delivery and full maintenance, including servicing, tyres and 24-hour breakdown service. Call us today!