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Is leasing better then buying?

From movies and music to software and smartphones, most of us are familiar with the concept of paying a monthly fee to use a chosen product or service. But what about cars? Are you better off leasing your next car, or should you buy one instead?

Let's start with the top 3 reasons for buying or leasing your next car.

Top three reasons to lease a car

  • Drive a brand-new car for less than the cost of buying it outright
  • Spread the cost of servicing and protect against inflation with a fixed cost maintenance package
  • Include the cost of road tax in your monthly payments

Top three reasons to buy a car

  • Keep your car for five years+ or swap it early without penalty charges
  • Drive your car without any limits on mileage or usage
  • Avoid end of contract costs for damaging the vehicle beyond fair wear and tear

Let's start with how car leasing works

Leasing a car is a lot like renting one the main difference between renting and leasing is the length of contract — normally between two and four years — and the need to stick within an agreed mileage limit.

Choose your car

Choose a brand new car that's perfect car for you

Fix your costs

Choose the length of contract and mileage that works for you, followed by an initial rental payment.

Drive and hand back

Enjoy your brand new car and when your contract is up, simple hand it back or choose a different one.

Is car leasing suitable for me? 

Buying a car might mean higher monthly payments now but, if your annual mileage varies wildly from one year to the next, or if you like the flexibility to switch cars whenever you fancy a change, it could still be the best option for you. And if you think you might want to keep your car for five years or more then traditional car finance could be the way to go.

If you’re not sure whether leasing or buying is best for you, it’s a good idea to take professional advice. In the meantime, here are the top three reasons for each.

Is it better to buy or lease?

Buying a car might mean higher monthly payments now but, if your annual mileage varies wildly from one year to the next, or if you like the flexibility to switch cars whenever you fancy a change, it could still be the best option for you. And if you think you might want to keep your car for five years or more then traditional car finance could be the way to go.

Choosing to lease rather than buy your next car helps spread the costs evenly over two to four years, protecting you from inflation and removing any worries about how much your vehicle might depreciate in value as new technology becomes available.


Interested in seeing what you could lease? 

Don't wait months on end for a car, our in stock offers are available, whilst stocks last and come with free UK delivery.


Or chat to us about different vehicles and get a quote that fits your budget

Enquire about a personal lease

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Novuna Vehicle Solutions is a trading style of Mitsubishi HC Capital UK Plc. Other brand names under which we trade include Novuna Consumer Finance, Novuna Personal Finance, Novuna Business Finance and Novuna Business Cash Flow.

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