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The advantages of leasing over buying a new car

The direct debit age has opened up the possibility of car leasing to the UK market. A generation used to paying for everything monthly and trading in for newer models means more people are looking to leasing as being an easy and cost-effective way to enjoy a new car. The choice between buying and leasing can be a difficult one. So, which is better?

Cost

Hiring a car (PCH - personal contract hire) offers a great many financial benefits that make this type of contract ideal for many people. In comparison to purchasing a car on a finance agreement (PCP or HP, for example), the down payment that you are likely to need to make is low or non-existent. On a monthly basis, it is often possible to make lower monthly payments than you would on a loan.

Depreciation

Cars depreciate in value quickly. With some models, you can lose a huge percentage of the value of your new vehicle almost immediately, which can be a concern if you are purchasing a car that you will look to sell further down the line. With leasing, you don’t need to worry about depreciation affecting the resale price of your vehicle as you can simply hand it back at the end of the term.

Flexible and hassle-free

Leasing is often seen as the perfect option if you like to change your car quite often. The flexibility of some lease deals means that you can keep up with the latest models by simply handing your existing car back and picking out a new one without the hassle of trying to sell.

With leasing, you also have the option of adding a maintenance deal to your monthly payment. This can give you the peace of mind of knowing that, if any challenges arise with your vehicle, things like tyres, batteries, exhausts and servicing can all be taken care of.

Apex offer car and van leasing deals for both business and personal use on popular models by manufacturers including Mercedes, BMW, SEAT, Peugeot and Volkswagen. To find out more about how a lease arrangement could be the right choice for you, give Apex a call today on 0800 999 3377 or request a quote online.

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Posted on 5th April 2018 at 11:40 AM

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