The majority of motorists in the market for a new car will have concerns over the cost, and this is exactly why it is best to lease a new car instead of purchasing one outright or taking out loans with costly repayments. Personal car leasing, or personal contract hire, is becoming increasingly popular and now a quarter of the cars on the road in the USA are leased. There are still those who are reluctant due to a lack of understanding of how it works, so here are a few reasons why any motorist should lease when shopping for a new car.
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Firstly, it is worthwhile explaining what lease for a car is. Car leasing is essentially renting a vehicle for a fixed amount of time at an agreed amount, where payments are made monthly. Usually, only a small deposit is required to lease the car and this enables you to drive away with a brand new vehicle without having to put down an enormous sum or take out a loan. The monthly repayments will be significantly less than what you would pay on a car loan; this can be as much as 50% less. This is the key advantage, but there are also many other benefits to leasing instead of buying outright.
Maintenance costs are usually be covered by the car manufacturer warranty, plus road tax is typically included which can also help to reduce costs. In addition to this, you do not have to worry about depreciation (which is a major drawback for purchasing) as you do not own the car and simply return it at the end of the agreement. This also negates the stress of having to sell the car which can be both costly and time consuming.
All of this means that any motorist can visit leasing dealerships, with John Clark Leasing being one example, and then drive away in a brand new car without having to break the bank. The agreement usually lasts a few years, which is perfect for those that would like the option to change cars and drive the latest models whilst not being tied down to one vehicle.
Overall, leasing works out as much better value than buying a brand new car and is the much smarter investment. Not just this, but it also allows motorists with lower income the opportunity to drive their dream car and not have to worry about the depreciating value.