In the US and Europe market share of leasing-bought cars is about 30% if all the cars, about 30% more are bought with the cash and 40% with credit funds. Often the financial loan by a private person ends with return of the car and a new agreement being signed. If you aren’t familiar with leasing, you’re missing quite a lot, because such practice has been popular for decades now. So, let’s look closely at why leasing a car can be better than buying it.
Leasing is the cheapest way to drive a new car – In most cases, the monthly payments on a car leasing contract are lower than repaying finance on a purchased vehicle. Therefore as long as you’re happy to continue with a fixed monthly payment, you can drive a new car every 2-3 years without ever worrying about depreciation or loss of value. With less money going out each month and a new car always just around the corner, leasing is a very attractive option.
No hassle of selling your vehicle when you want a new car – Unlike the situation which involves you as the registered owner of a vehicle, there’s no burden of having to sell or exchange the car when the lease agreement comes to an end. All you do is hand back the car and you’re free to decide what to do next whether that be enter another lease agreement or buy privately.
Maintenance doesn’t give you a headache – With a car that you obtained with a leasing contract you have the option to purchase a maintenance package which covers you for everything outside the manufacturer’s warranty. It offers complete protection; as you know the monthly rental rate is all you’ll ever have to spend on your car.
When buying the car, it instantly becomes your property, and along with ownership right, you will from that moment on also pay all the fees for its maintenance and service. And it’s good when you have all the money in cash, but statistics show that loads of new cars are getting bought with a loan, which also makes you pay the interest and covers other costs. Leasing helps to avoid this.[/vc_column_text][/vc_column][/vc_row]