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Lease or Buy?

If you’re looking to invest in a new car, there are so many different areas to think about. From engine size to the brand you’ll go with, selecting a vehicle can be a challenge. But on top of all that, you need to think about how you’ll paying for it – lease or buy?

Both options have their pros and cons to weigh up and consider what’s best for your personal circumstances. When you don’t have the substantial money sitting in your bank account to buy out right immediately, car finance provides you with more choice and a solution. Leasing, in particular, could be the option you’ve been looking for, helping you get from A to B in comfort from the car of your dreams.

What's Leasing?

If you’re new to car finance, the technical terms can seem off-putting. But car leasing is a simple, straightforward option that many people in the UK favour.

You can view car leasing as a long-term rental. You’ll be given a new car and able to drive it as you would a car you owned outright. You’ll make relatively low monthly repayments costs that fit into your personal budget and outgoings and when the contract is up, you’ll hand it back over without a need to worry about resale value, maintenance, or other unexpected costs.

There are two main types of car leasing options. Under a personal contract hire (PCH) option you’ll never own the car and simply hand it back over when the contract is complete. While under a personal contract purchase (PCP) you have the choice to buy the vehicle at the end of the term.

Whether you choose PCH or PCP, you’ll usually place an initial, defined deposit before you start making monthly repayments, although there are 0% deposit options available.

What are the benefits of leasing?

  • The monthly repayments are relatively low when compared to there payments you would make on a car loan.
  • Deposits for car leasing are also typically low or you can find options that don’t require deposits at all.
  • As it covers new vehicles, your car will usually be covered by manufacturer warranties, giving you peace of mind.
  • It helps you to access a car that may otherwise be out of your price range.
  • The monthly price is fixed, so you will be able to effectively manage your budget.
  • You can drive a brand new car of your choice every few years, choosing the latest models, so you’ll benefit from the latest safety features, fuel economy developments, and performance achievements.

When should you choose leasing instead of buying?

Leasing is the ideal option when you don’t want the hassle of owning a car and the freedom to choose a new vehicle when it suits you. With lower monthly repayments, it puts the car of your dreams in your hands without having to worry about long-term issues arising.

If you’re interested in finding out how you could benefit from car leasing, you can contact our team on 0800 014 9090.

Our deals will mostly show a monthly payment and an initial deposit of 3,6 or 9 months, Some may also include a document fee.

We understand a lot of customers would prefer to pay only the monthly payment without a large initial amount.

All of the deals you see on our site can be amended to detail the monthly cost with zero deposit.

If you would like any of our vehicles quoting with zero deposit and no document fees please contact one of our account managers who would be happy to help.

Note: By selecting a no deposit lease agreement the monthly lease will likely increase.

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