Pros and cons of car leases
When it comes to car ownership, there are more options available now than in the past. These include leasing a car. So, what are the pros and cons of car leasing?
What exactly is car leasing?
At its most basic, car leasing is essentially a long-term rental agreement (most commonly for 24-48 months) between an individual or business and a dealership.
Pros of car leasing
1. Access to new vehicles: Leasing gives you the chance to drive brand-new vehicles without having to fork out huge swathes of cash up-front.
2. Predictable expense: You will know when you take out your agreement how much it will cost you each month. This predictability is helpful when it comes to managing your finances. Most contracts also include road tax.
3. No selling hassle: At the end of the agreement you don’t have to try and find a buyer but just hand the car back.
4. Lease agreements can be customised: There is significant flexibility so you can select the contract that best suits you in terms of length, mileage, budget, etc.
5. Maintenance: You can include a maintenance element as part of your lease agreement which will cover the cost of servicing and repairs.
Car leasing Bristol
If you would like to know more about car leasing as an option, there are a number of providers who specialise in car leasing in Bristol and the surrounding area. Many of these, such as www.autolyne.co.uk/car-leasing-near-me/bristol, have useful online resources for your perusal.
Any downsides?
The main downside to car leasing is the fact that you don’t get to keep the car at the end of the agreement. This means you don’t have an asset at the end, despite having paid out a significant sum of money.
