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Car Leasing

Could car leasing be a good, long term alternative to owning a car? There is no doubt that the UK is a car loving nation, but there is also no getting away from the fact motoring is becoming more expensive by the year. Prices at the petrol pumps are on a continuous upward trajectory, fuelled by the ever increasing price of oil.  On top of this, motorists are faced with high insurance premiums, increasing road tax prices, annual MOTs, and repair costs. The bottom line is that these days a car is an expensive commodity to own and run.

 

Leasing goods is not a new concept. People have been leasing everything from houses to washing machines and TVs for years. It is a practical way of having up to date goods, without the upfront costs or worries about repair bills. Despite this, leasing cars is not a common thing for people to do, although there are several leasing car companies around. 

 

Generally speaking, the only time a car will be leased is for holidays or as a short term replacement while another vehicle is being repaired. However, it may be the case that leasing, rather than owning, a car, could be a viable alternative for some motorists. There would be some practicalities to work out, such as collection and return of the vehicle, but in reality car leasing could suit those who do not use their vehicles on a regular basis. The way to work out whether leasing is a practical alternative would be to do some calculations. A motorist would need to work out what their current vehicle costs them on a monthly basis, including fuel, road tax, insurance, repair costs and a percentage of the original cost of the car. They would then compare this against the monthly cost of leasing a car.

 

One of the great advantages of car leasing is it can be done on a long or short term basis. Cars can be leased for just a 3 month period or up to multiple years. Some manufacturers offer a lease scheme whereby, rather than buy a new car, a car is leased and replaced every 3-5 years. This gives motorists the opportunity to drive a relatively new model of vehicle, without the hefty price tag.

 

There are companies which offer car leasing UK wide. This means wherever a person is, and wherever they want to go, there should be a car leasing company within easy reach. As with any type of leasing, it is important to read the small print of any agreement to make sure that terms are suitable.

 

As the cost of motoring continues to rise, people are looking at alternatives to car ownership. Whilst some journeys can be completed on foot or by using public transport, there are some situations where this is just not possible, and a car is necessary. Car leasing schemes offer motorists the opportunity to travel by car for these necessary journeys, but releases them from the obligation of owning their own vehicle.