What is car leasing and is it worthwhile?

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There are many reasons why you might decide to lease a car, rather than buy one. With benefits including lower costs whilst enjoying access to the latest models, leasing a car can be a very smart choice.
What Is Car leasing?

Simply put, car leasing Bristol is a way to enjoy driving a top-quality vehicle at a lower upfront cost than purchasing it yourself. You pay a deposit and a monthly fee, and at the end of your contract term, you hand the car back. This means that you can then move on to lease a newer model!

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There’s flexibility in the contracts available, too, based on the kind of mileage you expect to cover, and how long you plan to lease the car. You can explore all of the options by getting in touch with a specialist such as https://www.autolyne.co.uk/car-leasing-near-me/bristol.

The benefits of car leasing

Perhaps you’d like to try out an electric car for several months, before committing to buying such a vehicle. There are plenty of great options for leasing in this category, as described here:

Or maybe you love to be seen driving the very latest model but don’t want to pay a premium on the purchase cost of such a new vehicle. The cars available through leasing are usually less than 3 years old, which also means that there will be no MOT to worry about.

How it works

The car leasing model works on the fact that brand-new cars depreciate by an average of 40% of their cost over the first year of ownership. By leasing such a car, the price you pay will usually be equivalent to the cash value of this depreciation.

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This means you should calculate whether it makes better financial sense to buy a car new and sell it later to recoup some of your outlay. This may not be as convenient as leasing a car but might work out as better value if you can afford to buy your car upfront, without taking out a finance agreement.