We all like the idea of driving away in a brand new car. The reliability, the modern technology, and of course – that new car smell. But is it better to buy a car outright, or lease? In this blog, we’ll run through the pros and cons of both.
The advantages of leasing a car
Leasing a car offers several advantages that you don’t get when buying a car. There is a wide range of brand new lease vehicles available in the market, and driving away in one might be easier, and more affordable than you think.
- You get to drive a brand new car
Driving a brand new car means you get all the latest features, technology and mod cons, as well as a smooth, quiet ride.
- You pay less upfront
Brand new cars can be very costly, and more often it means having to take out a loan, a finance deal or saving up over a long period of time to be able to afford the vehicle you really want. When you lease a car, the initial payment can often be less than a deposit when buying, and the monthly payments are affordable with fixed amounts, allowing you to manage your payments.
- You get a reliable vehicle
When you lease a car, you get a brand new vehicle, meaning you don’t have to deal with any of the unexpected mechanical issues that you get when buying a used car.
- Road tax, vehicle maintenance and 24 hour Roadside assistance included
At Just Vehicle Solutions, we include all of the above in your monthly payments, giving you piece of mind that your vehicle is continuously taxed, but also taking the vehicle maintenance away from you, and keeping you on the road should something happen.
- You’ll have more safety features
Brand new cars come with modern safety features, such as reverse parking cameras, lane assist, adaptive headlights, collision avoidance systems and more. You won’t find these features with many used vehicles.
- Never need an MOT
Brand new cars don’t need an MOT for the first 3 years. We offer 6-12 month short term lease deals, so leasing a car from Just Vehicle Solutions means you never have to deal with the MOT, ever!
- Businesses get tax benefits
Businesses that lease cars are able to claim back up to 50% of VAT on a car or up to 100% of VAT on commercial vehicles.
- Easy to use technology
New vehicles include features such as Bluetooth connected mobile apps and voice activation, meaning you never have to take your hands off the steering wheel.
- Leasing a car is easy
Leasing a car from Just Vehicle Solutions couldn’t be easier. Simply choose your vehicle, and apply online. We can often process applications on the same day, meaning you could be driving away in your brand new lease vehicle within 24 hours. Book a call with us today to find out more about our click and collect service.
Are there any disadvantages of leasing a car?
- You won’t own the vehicle
At the end of the lease period you’ll have to give back your vehicle, although you will have the opportunity to start a new contract and get another brand new vehicle.
The advantages of buying a car
- You’ll own the car
Owning the car means you can make modifications should you wish, and also keep any potential profit when it comes to selling to car.
- You are free to sell the vehicle
When you own the vehicle, you are free to sell it when you like and buy a new model.
- Milage is unlimited
With your own vehicle, there is no milage limitations, unlike a lease contract. However, higher milage cars may sell for less down the line.
The disadvantages of buying a car
- Cars depreciate quickly
New cars lose value very quickly, meaning when it comes to selling the vehicle, you’ll be getting much less than what you paid initially.
- It can cost more upfront
Even if you choose to spread the costs over a period of time, your upfront costs and monthly payments can often be more than when you lease the same new vehicle.
- Unexpected costs
Unlike leasing, owning a car means you have to pay for tax, MOT, maintenance and breakdown cover separately. As your car gets older, you may also run into further mechanical problems down the line.
- Selling can be a hassle
Selling your car can be a headache. Private sales can be a hassle when a potential buyer offers less than you want, or lets you down completely. There are companies out there who will help you sell, but they will also want a portion of the sales price.
So as you can see, in our humble opinion, the advantages of leasing a vehicle massively outweigh the advantages of buying outright. Click here to read more about car leasing, or book a call with one of our experts today to discuss your next lease car.