Car leasing myths explained
Leasing a car is an increasingly popular option for motorists wanting to get behind the wheel of a new car. Compared to buying the car outright, leasing can provide you with a range of flexible options and added convenience that buying a new car may not.
Here at Carparison, we offer a vast range of leasing options that can all be tailored to your exacting needs, so you don’t need to worry about any hidden surprises. If you are interested in smaller vehicles, then Ford or Volkswagen leasing might be something you look into or if you’re looking for an SUV, then Land Rover’s might be more your style, we offer something for everyone’s tastes. Carry on reading to find out some of the car leasing myths that you may have heard explained in a little more detail, so you never need to worry when leasing your next car.
It is more expensive to lease than buy
Buying a car outright can be very expensive and people often choose to finance newer cars to spread out the cost, but leasing offers you an extra option, that contrary to popular belief isn’t as expensive as it may seem. If you choose to buy a car, as it ages, it drives more miles or it gets natural wear and tear, its value is going to drop. This is something you don’t have to worry about when leasing, once your lease is over, you can simply give it back or swap it for another model.
Leasing a car could potentially be the cheapest way for you to finance a new vehicle. Borrowing money through a bank or alternative financing methods often comes with interest and extra fees meaning over the chosen period you end up paying a lot more than you would with a lease. Lease cars also come complete with extras covered in the cost, so you don’t need to worry about these extra expenses throughout your term.
Once you have paid your initial payment and you have settled into paying your monthly payments, you don’t have to worry about road tax, breakdown cover and warranty as these are all covered in your lease cost. These are things you would have to pay for on top if you owned the car or were paying directly to the manufacturer. Leasing a car comes with a fraction of the costs and none of the worry, just take a look at some of our reviews as proof.
Leased cars need special insurance and special breakdown cover
Another popular myth is that lease cars need special insurance and breakdown cover in order for them to be covered.
“We understand that a leased car is no different from a normally owned car with regards to getting insurance”, comments Steve Napier from Driving News.
Driving a leased car doesn’t mean you have to pay any extra or additional charges on your insurance, you will pay the same as you would if you were financing your car from a dealer or had bought it outright.