buying vs leasing a car

When you consider buying vs leasing a car, the concept of leasing is relatively new. But for you, the busy consumer, it can be seen as a great option amid rising interest rates, petrol, inflation, and a weakened Rand. When it comes to buying versus leasing, leasing definitely wins. There are many advantages, but one of the main ones is that your credit rating will not be impacted. Also, your credit status does not affect whether you can lease a car or not. Simply put, leasing a car allows you to get more car for less money.

A rather important factor when considering buying vs leasing a car is fuel economy. Since your monthly lease payment includes the rental, maintenance, insurance, tracking, and annul licensing, the main point to consider is how economical your chosen vehicle is. Since we have a wide range of low-mileage cars for lease, you can rest assured that you will be getting good fuel economy. You can view our cars and pricing here.

Here are some of the benefits that leasing a car from Pace Fleet Services has over buying.

A Car for Every Need and Budget

Leasing a car does not tie you down to one specific vehicle. You are able to change your car as your needs and financial circumstances change. Today you might need an economical hatchback, but you might require a large 4×4 bakkie or an SUV in a few months’ time. Leasing a car gives you the flexibility and freedom to change cars as your needs change.

No Maintenance

The fact that maintenance is included in your lease price each month means that you will save massively. Also included in the lease are insurance, tracking, and annual licensing. One payment to cover everything makes a lot more financial sense than having four or five different payments each month.

No Trade-In Hassle

Many a vehicle owner has made the decision to trade their vehicle in for a newer model only to find that their current vehicle is worth a fraction of what they were hoping to get for it. This is not the case when you lease a car. At the end of your lease period, you simply return the vehicle to us. As mentioned above, if you do require a different vehicle during the lease period, you have the freedom to upgrade or downgrade at your convenience.

Flexible Lease Periods

Another important consideration when comparing buying vs leasing a car is the payment period. With vehicle finance, you are often locked into a lengthy period of at least 5 years, and your payments can be affected by fluctuations in the interest rate. When you lease a car, the decision on how long your lease period will be is up to you. Someone who is emigrating might only need a lease that lasts 6 months, whilst a person with longer-term plans such as an expat might require a lease of 24 months.

Fixed Payments

It can be hard to keep track of how much you have been paying if the amount differs each month. Since your monthly payment is not tied to the interest rate, you have peace of mind in knowing that each month your payment will be the same. This also allows you to plan your monthly budget more effectively. Again, leasing a car makes more financial sense than purchasing.

Contact Us

If you have settled on a lease in the buying vs leasing a car debate, you can contact us. Our friendly team is eager to help match the right vehicle to your needs and budget. Our contact details are:

Pace Fleet Services is a member of SAVRALA (the Southern African Vehicle Rental and Leasing Association).