5 benefits to vehicle leasing

Five benefits of car leasing

Choosing between buying or leasing your next vehicle can seem like a minefield.

Buying gives you the perks of unlimited mileage and owning something that’s truly yours.

But let’s be real—leasing can offer some pretty exciting advantages.

Not to mention the chance to drive off in a car that’s way fancier than your budget might allow if you were buying outright.

With the ups and downs that come with each financing options, we’ve compiled a list of five great benefits of vehicle leasing.

So, fasten your seatbelts and buckle up.

1. Lower up-front costs

Leasing a car, van, or commercial vehicle is a game-changer when it comes to reducing that big upfront cost.

You won’t need to have the funds to cover the entire cost of your chosen vehicle.

So, you’re just covering its depreciation over the lease period and agreed mileage.

No need to worry about paying interest on the full price – that’s why leasing often turns out to be the most wallet-friendly option.

Your lease cost breaks down into two parts: an initial payment and a set amount of monthly payments.

The total amount you will pay remains roughly same, but you can choose how it’s split.

Want to pay more upfront to lower your monthly payments? Go for it.

Or maybe you don’t fancy a big bill at the start of your lease, which increases your monthly payments. Whichever way you decide to split it, our experts are here to walk you through the process.

This payment structure allows you to divide up your payments in a way that suits you.

Some funders may offer a little discount for the total cost of the lease when you invest more upfront, as you’re borrowing less money.

But the total amount you will pay will be roughly the same regardless of how you divide it up.

Don’t stress about having to negotiate a great deal - our deals automatically show you the best price.

The best part? 

You can customise your lease to your needs, including lease duration and miles per year, with a slight price change in accordance with the customisation.

Leasing opens up the door to a wider selection of vehicles. Even the traditionally more expensive vehicles, which would usually be out of reach for many of us, are a possibility with the flexibility around how, and when, we pay for the car.

Of course, if you’ve got the cash to buy a car outright, it might make more sense to skip the lease.

This is especially true if you’re unsure about how much mileage you’ll put on the car or if you’re worried about excessive wear and tear.

But for most of us, leasing is a smart and flexible way to get behind the wheel of a brand-new ride, with all the advantages that brings, and without breaking the bank.

2. No concern over a depreciating asset

Unfortunately, when buying a car, it will rarely hold its value.

You’ll hear the word depreciation thrown around a lot. But that’s exactly what a cars value does - it depreciates with time.

Unless you’re lucky enough to own a classic car or a super-rare sports car, your vehicles value is going to go down faster than your coffee on a Monday morning.

That’s where leasing becomes your best friend.

You’re only paying for the value the car loses during your lease term, not the whole shebang.

Even better?

That number is locked in right from the start, so no surprises down the line.

And unlike owning a car, where you’re left dealing with the resale hassle, a lease is pure simplicity.

At the end of your agreement, the car gets picked up, and you’re free to move on - no stress, no awkward negotiations, and no unexpected fees.

3.  You'll drive a new car every few years

Imagine cruising around in a shiny, fresh-out-of-the-factory ride for a set number of years, then swapping it for another one at the end of your lease—like upgrading your phone, but way cooler.

First off, the reliability.

New cars are far less likely to give you trouble, and if they do, you’ve got a warranty on standby waiting to help – usually no less than three years, sometimes even longer.

Plus, no worrying about mysterious previous owners or potentially sketchy service histories.

This car’s history? It starts with you.

Then there’s the tech. Oh, the glorious tech.

New cars come packed with the latest safety features, gadgets, and efficiency upgrades.

Translation: safer drives, easier rides, and fewer stops at the gas station. Or none at all, if you go electric.

Bonus points for shrinking your carbon footprint there, too.

Choosing to lease a new car also gives you the option to choose the vehicle’s exact spec.

The Carparison team can factory order a car to suit your exact requirements, including colour, those optional extras and styling.

Now that’s great customer service.

Just remember: if you’re custom ordering your dream car, you might need to wait a bit longer than you would with an in stock car lease deal.

Good things come to those who wait, right?

4. Added value

Leasing isn’t just about getting behind the wheel of your dream car—it’s about making the whole process as easy and stress-free as possible.

With delivery, collection, road tax (at the prevailing rate), and breakdown cover all bundled into your monthly lease payments, you have time to focus on enjoying the car.

Want to make life even easier?

You can also add a maintenance package that can include servicing, general maintenance and disposable items like tyres and brake pads. 

It’s like having a car-care concierge for a small additional monthly fee, clearly outlined in your lease quote.

All that’s left for you is to sort out insurance and fuel—or electricity if you’re zipping around in an EV.

5. Continued support

From the moment we receive your inquiry to the moment your car is handed back; you will have a dedicated Leasing Consultant by your side, ready to handle every twist and turn.

The gold trusted service you will receive doesn’t stop when you submit and order, or even when you have taken delivery of your new car.

The Carparison team will be here to assist you when you need us.

Whenever that may be throughout your lease term (and hopefully onto the next one).

So, whenever you need us, whether it’s a quick question or a little extra help, the Carparison team is just a call or click away.

The downsides of leasing

We may be biased when we say this, but there aren’t too many downsides to leasing. However, there could be some aspects that don’t suit everyone’s personal needs and wants.

1) You’ll never own the car. 

Beyond just the security of owning a financial asset, you are also limited with the customisations you can make to the car during the lease.

2) There are mileage restrictions. 

As the cost is based on the vehicle's depreciation in light of a set mileage, you could incur charges when you hand the car back if you exceed your limit.

This is charged in pence per mile and this fee should always be visible on your lease quotation.

3) Wear and tear inspections will apply.

Every lease car is subject to the BVRLA's fair wear and tear guide, which acknowledges that a returned lease car will have damage reflective of standard, but careful, use.

Any damage that exceeds these standards will be chargeable on return of the vehicle. 

4) Leasing can be difficult if you have a poor credit rating. 

In order to be accepted for a finance on a lease vehicle we’ll submit a finance application, including your credit score, on your behalf.

It does depend on the value of the lease you have chosen, but you are unlikely to be accepted for finance if your credit rating is not good or above.

A final note

When it comes to any big financial decision, it’s always a good idea to weigh up all your options.

Take the time to dive into the terms and conditions, and don’t forget to look out for any sneaky details that come with the package.

And be honest with yourself about what the future may hold—because life loves to surprise us—and make sure your choice fits your budget, now and down the road.