As the country climbs out of recession, many people and businesses are starting to look at how they can spend their hard earned money. In the last year new car sales have soared, with more than 400,000 sold during September 2013 alone, an increase of nearly 20% on the same month from the year before, and the highest monthly figure since before the financial crisis in 2008.
What Is Personal Car Leasing?
Personal car leasing is where instead of buying the car outright; you lease the car for two or three years before giving it back. The system originated in America and has grown hugely popular there since, where it now accounts for one in four cars in private use. Many people are put off buying a new car because of the high depreciation which can mean you lose a lot of money from your original investment, but personal car leasing takes away this issue.
How Does Personal Car Leasing Work?
With leasing you pay a fixed monthly rate for a set amount of time after you have paid a deposit which you decide before the contract starts. How much of a deposit you pay will be one of the factors which decide how much you pay per month. Once the contract is over you give the car back and the leasing company will sell the car, meaning you never have to worry about the cost of the depreciation and can have a brand new car every time your contract finishes.
Monthly payments for this type of leasing are usually lower than buying the car through finance, but the overall cost can be higher as you dont see any of the money when the car is eventually sold.
The Benefits Of Personal Car Leasing
Here are some of the main reasons people choosing leasing over buying or finance:
- Benefit from constantly improving standard specifications
- Lower fixed monthly payments
- Like having a vehicle that is always under warranty
- Like driving a vehicle that has the latest safety features
- Don't like trading and selling used vehicles
- Don't want to lose money on high depreciation costs
- Have a steady income
- Businesses who want to free up cash flow
Business & Personal Car Leasing From Select Contracts
At Select Contracts we are one of the leading specialists for business and personal car leasing in the UK. We have built up partnerships with many of the biggest car manufacturers, large motor groups and leasing companies around, meaning we can offer some of the most competitive quotes from anyone in our market.
We can give you a quote on any make or model of car or commercial vehicle, with free UK delivery from a national network of dealers and vehicle preparation centres. For more information on any of our cars or services, please get in contact with us by firstname.lastname@example.org or call 0845 6770 770.