It has always been a vital element to consider the pros and cons of both long term car leasing and purchasing a car while making your final decision. When you are in a process to decide whether to lease a car or buy your own one, the foremost thing a person should evaluate is for how long they are going to have the car. However, nowadays it is becoming a fact that people consider car leasing services to be a more efficient solution to obtain a new car at a reasonable price. Certainly, this solution is becoming more and more prevalent these days.
Any intelligent driver will surely know that there cannot be any greater joy than customizing your personal vehicle, selecting your preferred brand, color and style. In addition, through using a long term car hire services company it’s becoming easier to enjoy all these benefits of having your favorite car without the additional costs associated with purchasing it outright. Therefore, there are numerous advantages linked with car leasing which purchasing doesn’t allow.
We can evaluate the importance of car leasing by an eminent quote from J. Paul Getty, the billionaire oil magnate who said, ”If it appreciates, buy it. If it depreciates, lease it.” In a nutshell, it clearly summarizes the most focal point of leasing, which is, unlike your land and property your car`s value usually doesn’t appreciate with time rather when you drive your car on the roads it starts losing value. Therefore, in the end you only end up with a product whose value is depreciating over the time. This is the reason why people avoid purchasing their own car and instead have started taking the opportunity of long term car leasing.
Another thing which is gaining the attention of car consumers are the low figures of their monthly repayments when using car leasing. They are generally on average 30% to 55% less than the average you will find with a car loan. Furthermore, with car leasing arrangements you only have to tolerate a small initial deposit which in most cases amounts to three monthly payments in advance. Therefore, the biggest attraction in having a leased car is that a person can drive their favorite car, which might be out of their range if they were to purchase it.
Thirdly, the mode of payments during car leasing system allows the client to avail the warranty supplied by the car manufacturer during the lease period. In addition to this, the road tax amount is also included in the lease. Economical fuel rates and performance standards are also two chief advantages of lease cars. Another point that makes sense to consider with a car lease over car buying is that a person can enjoy the latest technologies and models. It gives you the pleasure of driving a brand new car after every few years.
Finally many business organizations are using leased services for their vehicles because a leased car may offer tax advantages to the business owners if they use it for business purposes.