Should you lease or buy your next car? This is a question you might ponder when considering getting a new car, and it can be tricky to decide which option is best for you.
Compared to 10 years ago, now there are a lot more brand-new cars on the road. Now, it might surprise you to learn that the vast majority of people purchasing new cars today are doing so using a Personal Contract Purchase, or PCP. An estimated five million cars on the road are said to be on private leases.
Put simply, car leasing is a long-term rental if you want the reliability of a brand-new car without the outright expense, and repair bills of buying a car.
Once you have chosen your car, you will be asked for a down payment, followed by monthly payments for an agreed amount of time (usually 2-4 years). The amount you pay each month will depend on several factors, including:
As lease vehicles are usually brand-new, you won’t need to worry about MOTs until they are three years old, but you are still responsible for any repairs and maintenance the car may need, including mechanical repairs and paintwork damage such as scuffs and alloy wheel damage.
If you decide that a car lease contract is for you, we recommend that you are mindful of any hidden costs as you may be charged extra for additional miles and late payments.
Before you hand your car back, the company will carry out an end-of-lease investigation to assess the condition of the leased car. Any damage they find outside of what they consider wear and tear, such as stone chips and paintwork damage will be charged back to you. This can be expensive, and that’s where we come in.
Our nationwide technicians can come to you and assess your vehicle to identify any paint, or alloy wheel damage that might come up during the investigation and seamlessly repair it for a fraction of the price.
If you prefer owning your car outright, then buying may be the best option for you. With buying a car, the vehicle is yours, meaning you are free to make any modifications you like, for example changing the appearance of your alloy wheels, or having them diamond cut.
Of course, you will need to have a larger upfront payment to buy the vehicle, unless you decide to go for what is known as a hire purchase. A hire purchase works similarly to a loan, where you will pay monthly but own the car at the end. However, this option can sometimes work out to be more expensive.
Whether you decide to look for deals on car leasing, or buy your car outright, remember that it’s up to you to keep it looking pristine. We know how devastating it is when you curb your alloy or scuff your bumper, but with our 30 years of experience in mobile bodywork, paint, and alloy wheel repairs, your car is in the right hands.
We have over 130 Mobile Technicians nationwide who will come to you and repair your car on your doorstep. There’s no need for expensive body shops, and you don’t need to leave your car anywhere. Our repairs take just a few short hours, getting you back on the road on the same day.
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