Cheap Car Lease Deals
Cheap car leasing deals are increasing month after month after month. Lease cars are cheap in fact, cheaper than you might think. to get a cheap lease car is a far better bet than it used to be. Check out the figures for new cars sold over the last 5 years. You will see an increase every year. The reason behind this? More and more people are realising that they can have a brand new car for less money than a 2nd hand one! Whats not to like?
The main criticism behind NOT leasing is that you dont own the car. The reality for most people is that if they want to buy a car they have to finance it, more often than not people do not have £10-30,000 spare to buy a new car with. So although you might own the car, if you lost your means to pay the loan back, you would end up selling it anyway to pay the finance off. So, you could argue that if you buy a car, you are only effectively ‘borrowing’ it as you still owe all that money.
The main thing to realise is how much cheaper it is to lease than to buy. Do some simple maths. A £25,000 loan for a second hand car over 5 years can be £500 per month (at good interest rates!). That car will lose an average of 20% per year (the 1st few years lose the most then the depreciation slows a little). So after the 1st year of ownership, your car is only worth £20,000 ! OUCH!! Can YOU afford to lose that kind of money?
You can lease the same car BRAND NEW for say £300 per month with a £1000 deposit. So in 2 years a lease car would cost around £7,000. Now you can see how leasing squares up. We all like that new car smell, that feeling that you are driving something no one else has ever driven- you can be the 1st owner of a car and not break the bank.
Leasing – advantages:
you have a set monthly budget – that means no big bills so you can accurately plan your monthly outgoings.. This also means you have extra cash every month so you can budget what to spend that on.