5 Reasons Why Leasing a Car is the Clever Option
For many of us, a car plays an essential part of our daily lives. We need transport to get to work and back. We need transport to go on that well-deserved family vacation. We need transport to get us to the shops and back. In short, we cannot do all that much without access to transport.
Car ownership, for many years, has been the dominant choice for many South African consumers. However, given the relative increase in the actual cost of owning a car, consumers are now looking for cheaper alternatives.
This is where leasing a car comes in. There are many advantages to leasing a car when compared to buying a car. We will take a look at some of the main ones.
Advantage 1: Match your vehicle to your needs and budget
When you buy a car, you only have access to that one car. You might find that the small hatchback you bought a few years ago was adequate then, but life does not stand still very long. In those years, you may have gotten married and had one or two children, in which case you might find that an SUV is a more preferable vehicle for your needs.
With a lease, you are able to upgrade or downgrade your vehicle depending on your needs and budget. This means you will always have the right car for your current requirements!
Advantage 2: Access to a new vehicle on a more regular basis
When you purchase a car, that is the car that you drive until you sell it or trade-in for another car. As you drive your vehicle, wear and tear starts to accumulate on the vehicle. With older vehicles, this is something that can become very expensive very quickly.
Fortunately, when you lease, you are able to switch to a newer vehicle with lower mileage. This is both safe and provides one with a sense of excitement at being able to drive a newer model vehicle.
Advantage 3: Shorter terms
The typical finance period is around 5 years, and you are often locked into such an agreement. A lease period is generally from 6 to 24 months, which offers you much more flexibility in terms of finding an agreement that suits your specific needs.
If you find that you need to extend your lease, this is a relatively easy and efficient process. This way, you can be assured that you will have the vehicle for as long as you need it.
Advantage 4: No ownership hassles
Maintenance and depreciaiton are two of the biggest headaches that vehicle owners face.
As has already been mentioned, cars generally become more expensive to maintain over time. While new cars are generally very reilable and come with maintenance plans, older vehicles tend to experience costlier issues to be repaired and often are out of their maintenance plan.
And when you do eventually decide to sell your vehicle or trade-in, an older vehicle has very little value compared to a newer car.
Fortunately, leasing a car alleviates these two hassles of car ownership. Many lease deals already include extras such as maintenance, and you do not have to worry about the trade-in value of your vehicle upon expiry of the lease.
Advantage 5: You can purchase the vehicle if you want to
For some, vehicle ownership is the way that they would prefer to go. The great advtange that a lease offers is the ability to “try before you buy.” If there is a car that you really like, you can lease for a period to see if it lives up to expectations. If so, you can then buy the vehicle from the company you leased your vehicle from.