How Does Leasing A Car Work?
Car leases are an extremely affordable option for people who want to drive a new car. The monthly payments for a lease are usually cheaper than monthly payments to purchase a car. Driving a car that is leased has many benefits including not worrying about car repairs covered by the manufacturer’s warranty. If you have thought about leasing a car, you may be wondering how does leasing a car work?
Cost of Leasing
The cost of leasing is determined by the value of the car at the beginning of the lease compared to the value of the car at the end of the lease. Cars depreciate over time. Therefore, the car will be worth less at the end of the lease than when the driver begins the lease. The cost of leasing is based on this difference in value. The monthly payments also include the VAT.
How Do You Lease a Car?
It’s very simple to lease a vehicle. Our website has a search tool designed to help you find your ideal car. Someone on our leasing specialist team would be happy to assist you in finding the perfect car.
Once you decided on a car, we will walk you through the process of applying for the lease financing. A down payment is typically due when entering into a lease. You may have different down payment options available which can lower the cost of your monthly payments. Once you decide on the terms of the lease and the application is processed, you can take possession of the car or even have it delivered for free in the mainland UK.
What Happens at the End of the Lease?
Depending on the lease terms, the driver may choose to buy the car. However, many people choose to lease a new car so that they can enjoy the many benefits of driving a new car with the peace of mind of the manufacturer’s warranty.
Why Car Leasing?
There are many benefits to car leasing. If you purchase a car, you typically have to wait several years before trading the car in for a new one. With leasing, you can get a new car more frequently which means you have less worries about repairs and you have access to the latest technology.
Suppose your driving needs change and you need a larger vehicle or an EV that can travel greater distances between charges? Car leasing allows you to upgrade or change cars faster than when you purchase a car. Are you on a tight budget? People who lease cars also enjoy lower down payments than those who buy. Many drivers find they can get more car for their money if they lease.
If you have any questions about whether car leasing is right for you, feel free to discuss your options with us. We’d be happy to present you with information and answer any question you may have.
