Doing anything for the first time can be a bit daunting. That slightly nervous feeling of not quite knowing how things will work out often makes people want to stay safely in their comfort zone, telling themselves that change and anything new is bad…..but imagine what you’re missing out on!
This is true of many things in life and getting a new car is definitely at the top of the list. Next to buying a house or investing in a holiday of a lifetime, a car is one of the biggest purchasing decisions any of us will make.
Put into the mix the growing trend for individuals to lease their next car and the leap into the unknown can feel even bigger.
To show you that leasing is one thing in life that you need not be nervous of, we’ve asked first time leaser Daniel to put together a diary of his journey to considering leasing to admiring his brand new lease car on the driveway. He’s shared some top tips too.
I’ve never had a new car - I always saw it as a real luxury and I couldn’t stop myself from thinking of the hundreds, if not thousands of pounds, that are lost the moment you drive off the dealer forecourt. My wife and I always happily drove used cars - not old bangers but not four wheels to be particularly proud of.
I was then added to my company car scheme and had a decent estate for a few years - it was a load lugger, reliable but boring so when it came to the time of handing it back I started to look at our options. Did I get another dull estate for 4 years, did I opt out and buy something nearly new, did I get a loan on a brand new or did I lease?
Leasing wasn’t something I’d considered before - to be honest I thought leasing was only for businesses but a friend of mine had been driving a good looking Mercedes for just a few hundred pounds a month so I started doing some research.
In short, I was amazed by how much car I could get for my money and very quickly realised that leasing was the most cost effective way for me to be driving a car that would make me smile.
After narrowing my options down to two models I looked at the upfront and monthly costs, lease terms and maintenance options and then took the plunge of applying for finance. It was a quick and easy process, all online other than one phone call I made to check on a couple of finer details. It was so quick and easy.
A short wait of about a day and a half to find out if I had been accepted for finance (I didn’t doubt it I would as I knew I had a strong credit score as had checked it out before I applied) and my new lease car was on order.
About 6 weeks later the car was delivered and I can honestly say I’ve not looked back.
There’s something about driving a new car that makes all of those long days in the office worthwhile and whilst I did compromise on a couple of options to get a good deal (white wouldn’t have been my first choice of colour for example) I’m thrilled with my new VW and I would imagine I’ll always now be a leaser.
A few things I learnt which will hopefully make the process easier next time:
Set your budget - know what you want to spend each month. It’s important to factor in the arrangement fees and upfront costs but for me it was being able to budget monthly that was important. It helped me to narrow down the choice of car too….because the choice is massive!
I went for a two year lease as I liked the idea of minimal maintenance and having the option of a new car pretty quickly. Have a think about how long you want to be tied in for.
Be realistic about mileage - the deal will be better if you underestimate but having discussed this with the leasing company the mileage charges if you’re not realistic will end up in a bill at the end of the term.
Don’t forget about insurance. Both will be on top of your monthly costings so it’s important to budget for them. I love to shop around anyway and as well as searching for a good deal on the car itself I did the same for insurance - it’s amazing what deals you can get!
Fuel is what it is of course but do check out the fuel consumption and work out if the car of your dreams is going to fit in with your monthly budget.
Finally if you’re looking for a deal be prepared to be flexible. As I’ve already said, white wasn’t my colour of choice but it was available on a shorter lead time and the price was unbeatable.
Car leasing wasn’t on my radar 6 months ago but now I can’t really imagine getting a brand new car on my driveway any other way.
Thanks to Daniel for sharing his experiences - car leasing isn't something to be nervous of - but if you are our friendly team are on hand to help you every step of the way - just email sales@littlegreencarleasing.com or call 01491 615514.