Car Finance Explained (UK) - BUY VS LEASE - 5 Ways to SAVE MONEY.
The hidden secrets of car finance and valuable car buying tips is here. Are you torn between leasing and buying a new car? Look no further, as we present five compelling reasons why leasing might be a smarter and more affordable option.
Top benefits of leasing a car: https://bit.ly/3AXO6Pt
Leasing vs PCP vs HP: https://bit.ly/3VC0axL
Figures on average savings from Leasing.com research: https://bit.ly/3Uf1plp
Reason 1: Lower Monthly Payments - Discover how leasing allows you to enjoy a brand-new car without breaking the bank, thanks to lower monthly payments compared to financing a purchase.
Reason 2: Minimal Down Payment - Learn how leasing often requires a smaller initial down payment, freeing up your finances for other important expenses or investments.
Reason 3: Warranty Coverage - Explore the advantages of leasing, such as benefiting from full warranty coverage throughout your lease term, which can save you from unexpected repair costs.
Reason 4: Avoiding Depreciation - Find out how leasing shields you from the financial impact of vehicle depreciation, allowing you to simply return the car at the end of the lease term without worrying about its resale value.
Reason 5: Enjoying the Latest Models - Discover how leasing gives you the opportunity to drive the latest car models and experience cutting-edge technology, without the long-term commitment of ownership.
PCP (Personal Contract Purchase) and Lease are two popular options for acquiring a car, each with its own advantages. In a nutshell, PCP allows you to finance a vehicle with the option to buy it at the end of the contract, while a lease involves renting a car for a fixed period.
PCP provides flexibility, as you can choose to purchase the car or return it at the end of the contract. It often involves lower monthly payments compared to traditional financing, making it appealing to those who want to upgrade their vehicle regularly. However, it typically requires a larger upfront deposit, and the overall cost can be higher due to interest and fees.
On the other hand, leasing offers simplicity and affordability. You can drive a new car without the burden of ownership or worrying about depreciation. Lease payments are often lower than PCP and include maintenance and warranty coverage. However, you won't own the vehicle at the end of the lease, and there may be mileage restrictions and wear-and-tear charges to consider.
Choosing between PCP and lease depends on your preferences and financial situation. PCP is suitable if you desire ownership flexibility and are willing to pay more in the long run. Lease is ideal if you prioritise low monthly costs and enjoy driving new vehicles without the commitment of ownership. It's essential to assess your needs and consult with experts to make an informed decision that aligns with your lifestyle and budget.
Key moments:
00:00 – Introduction
00:20 – How much cheaper is leasing vs PCP and why?
01:20 – Leasing gives you more control vs a PCP
02:15 – Less faff with leasing
02:48 – Leasing gets you the latest tech
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