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In the UK, leasing a brand new car in lieu of buying one is something that has grown rapidly. In fact, car leasing is now the number one way that consumers get ahold of new cars but what exactly is leasing, and why is it now so popular?
Effectively, a car lease is a long-term rental that you pay for monthly with a fixed fee—you, the user, agree to pay this fee for a fixed time period as outlined by your lease, typically 24, 36 or 48 months. In addition, it is common for a lease to include a maximum number of miles you can drive per annum in the car, with any excess mileage attracting an additional premium. Mileage ranges from 5k p/a up to 50k.
Its growth in popularity has been spurred on by the fact that car leasing enables individuals to drive a brand-new car with minimal cost. Due to the small fixed monthly payments, it is often more cost-effective and affordable for most drivers, both new and experienced. Many people don't understand this, however, and instead opt to purchase unreliable second-hand cars that, over time, can cost more in expenses than a lease would.
Leasing a car is ideal if—
- You want to drive a new car without the huge expenditure
- You want to get more car for your money
- You want the peace of mind that comes with a fixed monthly payment
- You want to avoid the risk of depreciation
- You want to get a new car every 2, 3, or 4 years
Leasing can start from as little as £149.00 per month subject to credit referencing and you could be driving away in a brand-new car sooner than you think.
As the saying goes—"If it appreciates, buy it. If it depreciates, lease it."
It is now estimated that over 1.6 million people lease a car in the UK, and statistics released in early 2018 demonstrated that the world's top 50 leasing markets grew by 9.4% in 2016–more and more people are starting to do lease cars, and for good reason.
Please take a look at our leasing deals online or if you fail to spot what you like and would prefer to speak to us please visit our live chat.