With 10% of cars on the UK roads leased, are you be missing out on the benefits that others who have long term car leases are enjoying in 2016?
Time for some facts – According to The British Vehicle Rental and Leasing Association (BVRLA) the vehicle leasing and rental sector makes a huge economic contribution to the UK. In fact, back in 2013, the sector added £24.9 billion gross value to UK GDP which to break it down for you is the size of both Edinburgh and Leicester economies combined!
So what is leasing a vehicle? An easy way of understanding it is to think of it is like renting a house or an apartment. You sign a contract and pay a certain amount of rent each month over a set period of time, for example for two years, and at the end of this time you return your keys – done deal! The biggest difference is that buying a property is an investment, buying a car is not because they depreciate in value the minute they leave the forecourt.
To enter a contract, you have to complete and submit an application form. Once that’s been submitted and approved the car is delivered and it’s all yours (well for the length of the contract!). Each month you have to pay rent and when the contract is up you simply return the car. Sounds simple right? So what exactly are the benefits?
Leasing your car is both value for money and an easy way to get behind the wheel. Whether you are doing this because you want a brand new car which you normally couldn’t afford to buy or because you want a car for a set period of time for a set price.
Choosing the option for maintenance eliminates risks and makes on going costs predictable.
You don’t have to go through the hassle of selling a car.
You have the option of leasing a different car every two or three years.
You will never have to worry about the car being out of warranty.
What’s not to like? Sounds like a fabulous way to start the new year!
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