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Leasing used cars – a cheaper alternative

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Leasing used cars throughout the UK is becoming more popular and it is easy to see why when it can provide a cheaper alternative to buying a brand new car.

The monthly premiums save on costs, which can appeal to a consumer who is looking for a vehicle that offers affordability, flexibility and less responsibility when it comes to maintenance issues. Most cars that are bought outright depreciate rapidly from their original value within the first year. This is why leasing has become so attractive to motorists. The cars can be updated every two to five years depending on the length of the contract so it removes the dangers that come with used cars for sale. The problems that can occur towards the end of a used car’s life expectancy can be costly but with leasing there are no concerns over the loss of resale or disposal of the vehicle. When the lease contract has ended, consumers have no commitment to the car and can begin a new lease, allowing users to keep updated with the latest models of used cars on the market.

With some leasing companies, you can pay more money to have maintenance included in the contract hire agreement. The company will manage all the repairs, tyres, servicing and parts your car needs. If the car breaks down, the company will take care of the repairs and issue you with a second car while the faults are mended. This saves time as a consumer looking at used cars for sale will have to consider an alternative method of transport if the car needs repairs.

Leasing a car means motorists know how much they will be paying during the rental period and for how long. They can choose any car they desire while agreeing to a maximum mileage and monthly payments. Although it is difficult to work out the residual value when it comes to leasing used cars, monthly payments can be less in comparison with a new car where you will continue paying fixed amounts each month regardless of how much value in lost in the car. Luxury cars, sports cars and SUVs hold their value well and are popular within the used cars market.

Some important factors to remember when looking to lease used cars are:-

  • Don’t buy a car that is too old – any maintenance work that is required could be expensive. A three year old car will have more problems than a one year old car.
  • Check the vehicle’s history – Do a background check on the car to see if there are any unseen problems you should know about i.e. if the car has been involved in a serious collision.
  • Have the car examined – Before signing the contract, have the car fully inspected by a qualified mechanic.
  • Shop around for the best deals online – If leasing from a dealer, haggle down the price just as you would with used cars for sale.
  • No large amounts of money are required up front in comparison to cars for sale; only the first payment is required, so if you’re looking to save money and enjoy the little luxuries of newer models or luxury cars, why not look to leasing for your next car?

One Response

  1. diesel cars are getting slated these days. Watch out for higher taxes as the government starts to set it sights on the diesel car.

    John

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