When it comes to choosing a new or nearly new car, a lot of people opt for a bank loan or personal contract purchase/hire for the financial arrangements. These options can often take several years to pay off, but why make such a long term commitment and tie yourself to one vehicle for such a long period of time? With variety being the spice of life, there are many benefits to selecting short term car leasing over long term finance.
A Change is as Good as a Rest
It’s always a good feeling when a new car arrives. For a short period of time, you feel slightly elevated when pick up your cars keys on a morning and arrive at work with a slight spring in your step having had the opportunity to play with your new toy for the duration of the journey. However, this feeling doesn’t last forever. After a few months, once the newness has worn off, your new car is simply your regular everyday car. But why settle on only having that ‘new car sensation’ every few years? With short term car leasing, you can swap your car for a new one every 28 days!
One of the benefits of short term car leasing is that your monthly payments are likely to be lower than that of PCP or PCH financial arrangements. This is because you aren’t aiming to own or part exchange the car later down the line. Therefore, you can have a little extra in your pocket every month for other things or alternatively, you can splash out on a more expensive make and/or model of car than through PCP or PCH. Go one…you know you’re worth it!
Going Down Hill Fast
Unless it is an extremely limited edition or appeared in a particularly iconic movie, most vehicles start losing value as soon as they leave the tarmac of the showroom. This is something most people seem to accept, but this doesn’t have to be the case. By short term leasing a car and renewing your car at regular intervals, you can elevate yourself above the one thing that haunts every car owner – instant and continuing depreciation.
If you are the sort of person who has to have all the latest mod cons, then it must be really frustrating signing up for a car with all the latest tech, only for that tech to be outdated by the time you are only half way through the full payment period. As already mentioned, by leasing a car short term you have the ability to change your vehicle every 28 day, ensuring that you are keep up-to-date with all the relevant automotive tech trends and innovations.
The process of financing a car can be extremely complicated with size of deposit, estimated mileage and the payment duration just a few of the factors which will affect your monthly payments. This is also only for the cost or hire of the car, never mind the tax, insurance, breakdown cover and other costs necessary once the car has been received.
Short term car leasing is extremely straight forward. The application process only takes 24 hours, there is usually only a short turnaround time for vehicles and no deposit is required. Your monthly payments also includes maintenance and service at no extra cost and your vehicle will usually come with a full manufacturer’s warranty. So as long as you’re fully insured there will be no nasty surprises.
Credit Where Credit’s Due
For banking or finance institutions, when it comes to trust, the proof is often in the pudding. By leasing a car short term and regularly making monthly payments your credit rating can often improve as this demonstrates that you can manage your money and therefore makes you less of a risk. This can help with the applications for future bank loans and/or credit cards etc.…