Benefits of Car Leasing in the UK
Car leasing is quickly becoming the most popular way to get your hands on a new set of wheels in the UK. So, if you’ve got your eye on a new car but are put off by the price, why not consider car leasing through Pendle Leasing?
With over 50 years of combined experience in the automotive industry, the staff at Pendle Lease have extensive knowledge on anything car leasing and are ready to assist you.
If you’re unsure of how car leasing could help you, below is a definitive guide on the benefits of car leasing in the UK.
1) Save Money
A huge benefit of car leasing is that it’s much cheaper than buying outright.
Car leasing unlike other means such as PCP (personal contract purchase) doesn’t require large balloon payments or extortionate monthly costs. Car leasing, in the long run, allows you to manage other bills and feel more comfortable with your money when paying a set, smaller sum each month.
The benefits of car leasing include lower deposits and lower monthly payments. With PCP or regular car finance, the initial deposit is to lower the monthly payments and contribute to the total that is owed, however, with leasing you don’t need to worry about clearing a huge cost.
Browse the vehicles we have available and see how much you could be saving!
2) You Don’t Own The Car
While this may initially seem like a drawback of not buying a car outright, the fact that you don’t own the car actually works in your favour. From the depreciation in value of cars over time to ongoing maintenance you’ll be thankful that your car isn’t fully your responsibility.
A new car depreciates in value immediately once it is driven off the court, meaning in the space of a day your car will drop in value just by you taking ownership of the vehicle.
On top of that, cars depreciate in value anywhere between 10% to 15% each year, meaning your car could also be losing a fifth of its value every year. This could mean that when it comes to selling your vehicle, years down the line your vehicle could be worth at best half of what you paid.
Fortunately with car leasing, you don’t have to worry about the stress of owning a car. When you lease a car you reap all the benefits of driving a brand new car with none of the responsibility.
3) Brand Spanking New Car
One of the main benefits of car leasing is the ability to drive a brand new car for the fraction of the price than if you would buy the car outright. This is a luxury that most drivers cannot afford, simply because of the price tag associated with modern cars.
With car leasing, you not only have the ability to drive a car that would otherwise be off-limits but swap that car every few years for an upgrade - a huge benefit of car leasing. Take your pick and drive a brand new car every few years, experience what Porsche, Mercedes-Benz and Ford to name a few, all have to offer you.
If you’re a car enthusiast this is great news for you. Cars evolve all the time, with new technology, new innovative designs, improved fuel efficiency and updated entertainment systems it’s nice and refreshing to be able to sample these upgrades every few years.
If you’re someone who gets bored easily and is always wanting the ‘new thing’ - car leasing is right up your street. In a few years when your car becomes dated, swap it out for a brand new one and fall in love all over again.
So whether you’re looking for an iconic Vauxhall Corsa or a sleek new Renault Captur we have you covered for years to come.
4) Great for your Credit Score
Your credit can be a huge factor when leasing a car, and can often be the difference between driving away happy or getting turned away.
Luckily for those with bad credit, we have a variety of options. We have a number of car leasing options with zero deposit to pay, which takes some of the financial strain away from the get-go.
We look at your current affordability, and less on credit history. We understand that times change and what was the case a year or two ago, isn’t necessarily the same today - so we work to provide those that have been turned away with a second chance.
How does leasing a car affect credit score?
While the benefits of car leasing do for the most part lay with low monthly payments, saving money long term and owning a brand new car - there’s another benefit that is often overlooked. Building your credit score.
The premise behind measuring your credit is to equip lenders with a means to rate your trustworthiness easily. Furthermore, your credit score is built up on your ability to make regular repayments alongside other important factors.
For those with bad credit, building your credit score is more vital than ever. Fortunately, car leasing will help you get there. Through reliably making regular repayments (on time and consistently), you are able to over time build your credit score to an acceptable point - so you may eventually get accepted by some general lenders.
Another means of building your credit score is through having a mixture of different types of credit, e.g. loans, credit cards, leasing. While we’re not advising you to go out and sign up for more, if you happen to already have a credit card, for example, this can help you prove your creditworthiness even further.
5) Less Hassle
Referring back to the point made about not owning the car, this argument is much the same in that general upkeep and regular maintenance of the car is generally not your responsibility.
Here at Pendle Lease we also offer additional maintenance costs to be included in the lease price of your vehicle. The cost is added to your monthly payments; this cost is calculated individually for each quotation as many variables affect it, including make, model and annual mileage.
Having the maintenance costs of your car covered for an additional fee every month is one less hassle to deal with should any maintenance jobs need doing on your vehicle.
6) Simple and Accessible
A key benefit of car leasing is how simple and accessible it is to get started. The process is quick and painless.
If you’re looking to lease a car simply choose a car that takes your fancy, then fill in our application (personal or business). That’s it. Once you’ve been accepted it's a case of arranging your own insurance cover, and then we can deliver your new vehicle to your home address with our free UK delivery service.
We want to make sure that your experience is as seamless as possible. So, from the point of submitting your application to the point of being handed the keys and driving away - we pride ourselves on how simple it is.
Our car leasing deals are perfect for those that lead busy lives, from work to childcare with minimal time to go through the headache of buying your next car. Simply open up your laptop, open the Pendle Lease site, find a car you like and submit your application.
It’s just that easy. With the added benefit of having your vehicle delivered straight to your door!
Find Your New Car On Lease
To take advantage of our affordable car leasing options, or have a chat about the effect car leasing has on your credit score with our no-pressure customer service team, simply fill in our enquiry form or call us on 01277 549500.
If you’re curious as to how you could take advantage of the benefits of car leasing, browse our range of deals we have available - and experience the benefits first hand. Whatever the car you’re looking for, we make it so you could be driving the car you want at the price you want in a matter of days.
Take a browse
On the market for a great leasing deal? Check out all Pendle Lease's latest offers.
Want to be the first to know about our new deals? Sign up to our special offers mailing list.
New to leasing and want to know more? Read our leasing guide and leasing myths busted.
Got a question? Speak to a member of our friendly team today.