Nowadays car finance is one of the most popular ways to obtain car ownership. With car loans now becoming as easy to obtain as mobile phone contracts, it’s never been easier to drive a brand-new car. And with big premium brands such as Audi or Volkswagen offering cheap lease deals, it’s never been easier to drive a car that would potentially be out of your budget otherwise.
You can get the car of your dreams at an affordable price
Ever wanted a brand-new Mercedes A-Class? If you have a spare £27,000 for the top spec you can! Otherwise you may be out of luck, unless you jump into leasing deals. For as little as £238 per month you can get a brand-new A-Class delivered straight to your door. Leasing deals are extremely affordable and easily customisable. You can get better prices by reducing your annual mileage or extending your contract length by a year, meaning you have an extra year to pay off your car finance.
You get to drive a reliable car with modern technology and safety features
Modern cars are equipped with the latest technology and safety features that make driving far easier. Some used cars also have basic safety features such as ABS, traction control etc, but modern cars have evolved far past this. You can expect a host of new technologies on modern cars, including front and rear parking sensors, integrated satnav, automatic window de-icing, tyre pressor sensors and much more. A modern car is extremely safe to drive compared to the cars of 20 years ago.
Avoid the hassles of dealerships
Dealerships are notorious for having aggressive salesmen that coerce you into a deal they’re offering. After all, they get paid commission for every car they sell, meaning every customer is a potential bonus to their wage. Car leasing is done through independent companies that usually don’t have showrooms, but rather online marketplaces. This means you don’t need to suffer through the hassle of visiting dealerships, but can rather window shop different car leasing websites until you’ve found the cheapest deal. This can often be a very attractive option for those that just want to have the car delivered straight to them.
Manage your vehicle finances easier
Car lease deals are set in stone contracts, meaning the price that is agree on for the duration of the contract stays the same. This can make it easier for those who are budgeting per month and need to know exactly how much they need. Car leasing is only for new cars, so you get the reliability of a new car without the worry of something going wrong. This is far better than buying a used car, which could have internal problems that you can’t inspect at the road side. Used cars always carry the unpredictable risk of having to shell out a large amount of money to fix issues that pop up, especially old cars.
Avoid paying more for PCP deals
PCP deals are another form of car finance, unfortunately they are costlier compared to car leasing. This is due to the Guaranteed Minimum Future Value (GMFV) that your dealer expects your vehicle to be worth after the contract ends. This can be influenced by mileage and condition of the car when it’s returned. If the dealer expects the car to have lost a lot due to depreciation, they can charge you more per month. Car leasing is far cheaper due to avoiding the deprecation aspect, as the GMFV doesn’t matter since the vehicle doesn’t belong to you.
If you’re interested in leasing a car after reading this post, why not start looking for an Audi and Volkswagen leasing company? These premium brands have plenty of cheap cars on lease deals nowadays. BMW and Mercedes are slowly adopting easy car finance so expect to see more of these cars on the road too.