Should I buy or lease a car?

Should I buy or lease a car?

Having access to a suitable vehicle is essential for many adults and families who may rely on transport for work, schooling, visiting relatives and hobbies.
Buying a car means that you own your vehicle from the start. There are no mileage restrictions, and you can choose to sell at any time. However, many may struggle to pay the initial purchase price of a vehicle or be able to commit to the often-high repayment cost of finance or loans.

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For those not in a position to buy a car outright, the popular option of leasing may be worthwhile to explore. According to Nantwich News, more people are now leasing cars than ever, with a 44% year-on-year rise. Factors such as the cost-of-living crisis and inflation are both thought to be contributing factors towards people favouring the cheaper monthly cost of leasing a vehicle.

Advantages of leasing a car

Leasing a car alleviates any concerns about the vehicle depreciating in value, as there is no need to sell the car at the end of the lease agreement and the car is simply handed back.

Lease agreements have fixed monthly costs so that finances can be managed.

Car leasing for business purposes can have tax advantages.

A manufacturer’s guarantee is included with all lease vehicles, giving you peace of mind.

It is simple and quick to arrange to swap for a different/newer vehicle (usually every 2 to 4 years).

There is no need to arrange bank loans or other financing in order to secure a vehicle.

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Further information

For details of car leasing Bristol, visit a specialist such as Here you can find information about lease agreements varying from several days to several years. There is also the option to purchase the vehicle at the end of the term. Lease vehicles can usually be delivered nationwide and include road tax.

With newer vehicles losing up to half of their value within the first 3 years, leasing can offer a sound alternative with lower-cost monthly payments.

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