Which type of Car Leasing is Right for You?

Whether you’ve just passed your test or you’re simply looking to upgrade your wheels, the good news is that financing a car doesn’t have to cost a small fortune. There are plenty of different options out there, to suit all budgets. Of course, you can always take out a loan to pay for a car, but sometimes, leasing is much more cost-effective. However, it can be difficult to know which type of leasing is best suited to your needs, so here’s everything you need to know.

Personal Contract Hire

With personal contract hire, you pay a fixed monthly amount that is based on the anticipated depreciation value of the car – this is the difference between the price of purchase and the resale value at the end of the contract. PCH is best suited to people who want to drive a brand new car every few years, but are not bothered about owning the vehicle. With a PCH agreement, you simply hand back the car. Payments are always fixed and you can even include a maintenance package to cover the cost of servicing and minor repairs. You will have to agree to a fixed mileage though, and the fees can be costly if you exceed it. You should always make sure that you lease from a trusted company, such as All Car Leasing.

Pros: Hassle free, lower monthly costs

Cons: You will never own the car and you can’t make any modifications to it.

Who it suits best: Someone who wants to always drive a new car, and isn’t fussed about owning the vehicle.

Personal Contract Purchase

A PCP (Personal Contract Purchase) agreement gives you more choice at the end of the contract. Instead of simply handing the car back, you have the option to buy it for what is known as a balloon payment, which is the minimum future guaranteed value agreed at the start of the contract. With PCP agreements, you’ll always pay a deposit and then low monthly payments, which can make driving an expensive car more attainable. At the end of the contract, you have three choices – hand the car back, buy it with the balloon payment or part-exchange it. You could also extend the finance.

Pros: Flexibility, low costs.

Cons: Can be one of the more expensive methods of buying a car if you choose to pay the balloon payment at the end of the contract.

Who it suits best: People who are indecisive.

Hire Purchase – Those who can’t afford a dream car but want to own it outright

Hire purchase is an easy way to finance a car. You will pay a deposit, followed by monthly payments, and once you have met the full cost of the car, you take ownership. The finance company calculates the cost of the car based on the price of the car, the amount you pay as a deposit and the amount of instalments. The loan is always secured against the car, which can make it easier to get finance, but the monthly payments are higher than other methods of leasing. The car can’t be sold and might be re-possessed if you fall behind on the payments.

Pros: You can drive a car you can’t afford to buy outright, but be safe in the knowledge that you will own it eventually.

Cons: You can end up paying high interest rates, so it’s best to shop around before you commit.

Who it suits best: People who are sure about their dream car but can’t afford to buy it outright.

What happens at the end of the contract?

You will be contacted by the leasing company to arrange a convenient day for the car to be collected. The mileage will be checked, as will the condition of the car. This is so that the company can ensure you haven’t gone over your mileage limit, and you haven’t damaged the car beyond ‘fair wear and tear’ – if you have done either of these things, you may need to pay a small fee.

The Low Down on UK Road Laws

Van Monster have research all of the most recent road laws including some statistics in relation to them. It is worth checking them to make sure that you do not get caught out by any of them.

Rule 148: Drivers in England and Wales must not smoke or allow anyone to smoke when in an enclosed private vehicle should someone under 18 be on board. This carries a £50 fine, but as of 29th June 2016 no fines had been issued although there were verbal warnings giving to some drivers.

UK Road laws

Rule 90: Any health condition likely to affect your driving must be reported to the Driver and Vehicle Licensing Agency (DVLA). The fine for this is £1,000 and you could be prosecuted. However, among drivers over the age of 65 three in ten drivers have medical conditions which should be reported and have not. Continue reading “The Low Down on UK Road Laws”

What will the Future hold for our Car Technology?

Whenever a new car comes out there seems to be some new technology that it has. Whether it is to make it easier to drive, safer or more efficient, there are many rapid changes going on. There is set to be even more changes in the future and some of these possibilities are discussed below.

YourParkingSpace took a look at the new technologies that are just in their initial stages to see what might come onto the car market in the future and an infographic has been put together in order to demonstrate this. With driverless cars and Internet connected vehicles the possibilities are very exciting but there could be a lot more changes than just these. Continue reading “What will the Future hold for our Car Technology?”

How to keep your car running for as long as possible

Cars are very expensive investments and are subject to wear and tear in their normal usage. For the sake of your finances it is important to keep a car running for as long as possible before buying a new one. This is not difficult to do by following some simple guidelines.

Invest in a Great Car

The very first thing that it is important to do if trying to maintain a car for as long as possible is to invest in a great car to begin with. This will involve shopping around and researching which types of cars are the most prone to repairs and which types of cars are generally trustworthy and reliable.

It may also help to talk to owners of such cars and find their own personal experiences. Internet forums are a great place to find out about any problems that can affect a particular model. Do not neglect to ask the advice of car experts – they will be able to give advice on which cars will be more prone to breaking down or needing parts replacing.

car Maintenance

Many makes and models of cars have specific weak areas that are prone to damage or wear and tear. Owners clubs online hold a great wealth of information about such problems and will allow any car owner to prevent such problems on their own cars. Even if prevention is not always possible, it still helps to be prepared and anticipate the cost of repairs to any particular part.

At this stage it is important to choose a car based on its reliability and not on its looks. When looking for a car that is easy to maintain for a long period of time looks should not generally be a major consideration.

Keep up with Servicing and Maintenance

Many new cars will come with a servicing schedule and guidelines on when to replace certain parts of the engine or other parts of the car. In order to keep a car in great working order and running for as long as possible it is advisable to stick very rigidly to the owner’s manual and its suggestions on servicing and replacement of parts. Continue reading “How to keep your car running for as long as possible”

Choosing the right Summer Tyres

For many drivers, the longer and warmer days herald the arrival of the ideal driving season. In the summer, the days are long and the skies are (usually) clear, which creates some perfect driving conditions.

As such, it makes sense to get your car prepared for the new season. The most important thing, arguably, is to get the right summer tyres for your vehicle. After all, the right tyres can determine how well your car handles on the road so, if you want to get the most from your ride, it helps to have the right support.

So, with that in mind, what exactly do you need for summer driving?

Summer tyres

Easy Driving

Where as winter tyres focus on pushing through slush and snow, the summer is about driving on clear roads and making the most of the situation. As such, a low rolling resistance is a priority. Aside from using less fuel, this will convert more power from your engine into direct movement, allowing you to achieve the car’s full potential. Continue reading “Choosing the right Summer Tyres”

Feeling Limited by the Motability Scheme – Here’s the Missing Piece

Reliable transportation is critical when you’re trying to make the most out of life on every level. While every disability looks different depending on the person, getting from one place to another is something that we all can understand quickly. So, if you’re looking to get a car under the motability scheme, you might be feeling a bit limited. After all, most do assume that they will not be able to find a reliable vehicle that truly fits their lifestyle. Having a caregiver drive you around might get tedious, but it can also be tiresome to find a vehicle that is covered under the plan.

Thankfully, this is where Spire Automotive comes in. They have a wider catalogue of motability vehicles at the ready, including some that you might not have thought about before. If you’re thinking that you’re going to have to walk out with a car that barely seats a driver and a passenger, then it’s time to be pleasantly surprised by the options.

Did you know that when you’re eligible to take advantage of your options, you also get insurance and breakdown cover at no extra charge? It’s just one more way that your needs are handled, even when you least expect it. Continue reading “Feeling Limited by the Motability Scheme – Here’s the Missing Piece”

Trust MAN to Meet Your Custom Transport Needs

This holiday season, Santa will be out taking care of all the good boys and girls. But what about your company? Haven’t you devoted enough time and energy to taking care of your customers? Of course you have! In this cheeky video below, MAN shows a little bit of the Christmas spirit, in a unique way. We wanted to post because we’re thinking about the Christmas spirit too, but in a different way.

See, true car people are all about customisation at every turn. We want to take something and make it bigger, better, and more awesome than before. From a business standpoint, if you have transport needs, it’s time to take a closer look at how customisation could make your day to day objectives easier to meet.

MAN issued a press statement a little while ago mentioning the upcoming MAN TGE, a transporter that can be easily customized for all types of applications. For example, if your business relies on refrigerated foods, you want to be able to have transport options that would keep the food at the required temperature for the entire length of the journey. This can get tricky if there are multiple deliveries along a route, such as the case when companies deliver food directly to a customer’s home. At-home food delivery is a booming market that has a lot of growth, but it all starts with having the right infrastructure at the beginning, or being able to add it as time and resources allow.

The commercial world shows us a small glimpse into why automotive customisation will never go out of style, and we look forward to seeing how businesses use the MAN TGE line in their daily driving. The transport line is not set to be produced until Spring 2017, so actual production hasn’t occurred just yet. Let’s wait and see what happens!

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