Buying a car or leasing: which one is for you?

- Advertisement -

This article is brought to you by All Car Leasing.

Should you buy a car or lease one? These days, people are always looking to save money, but they’re also thinking about the best use of that money and whether buying a car would make a better future investment than leasing one.

So, which is the right road for you to take? Below, we’ve summarised the top reasons for both buying and leasing a car – hopefully it will help you to decide which circumstances are the best fit for your own lifestyle.

Advantages of leasing a car

  1. Leasing a car is often the better financial option for people who haven’t got a large income coming in every month. Both the initial deposit and the monthly payments you make will be often be lower than an ownership finance product like a PCP on the same car with the same terms.
  1. Leasing payments are fixed for the duration of the term, and you can usually include servicing and maintenance in your monthly payment as well, meaning you don’t have to worry about finding large amounts of cash for your car’s annual service.
  1. As you can change your vehicle fairly regularly, leasing is a good option for those who care about staying fashionable within the automotive world, and for those who think about image from a business perspective.
  1. When the lease runs out, you simply hand the car back to the leasing company. You don’t have to worry about selling it yourself, or being ripped off by a dealer when you want to part-exchange your car for a new one.

If this description sounds like you, then you need to head over to All Car Leasing to check out what they have on offer.

Advantages of buying a car

  1. Buying a car can often be a better investment if you are uncertain about what your mileage will be. Most leases will agree a set annual allowance for mileage, with an additional charge applied for anything over that amount, so if your circumstances change and you end up doing a lot more miles than you anticipated, it could cost you a lot of money. Of course, you could always try negotiating your lease when you first approach the vendor.
  1. You can buy whatever car you like, new or used, whereas leasing is normally limited only to new cars. If you buy a used car a car in good condition that’s only a few years old, you will have beaten the worst part of the depreciation, and should retain a decent value when you come to sell it.
  1. Finally, for those new to driving with little experience, or for those prone to accidents, leasing might not be the right path for you. Most vendors charge wear-and-tear fees; these vary from company to company, but can be expensive. Buying an older car until you build your confidence could be a better way to spend your money.

You should also read: New car leasing advice for start-up businesses

Did you find this article useful? Let us know in the comments below…

Toyota Avensis leasing options

- Advertisement -
All Car Leasing
All Car Leasing
All Car Leasing is a privately owned vehicle sourcing and financing company operating across the UK with a complete package

Latest Expert Advice

Driving test change to boost accessibility

Video clips are to replace written scenarios in UK driving tests to make them more accessible.

Personal Contract Purchase: the PCP explained

The PCP (personal contract purchase) is the most popular type of car finance. This guide tells you everything you need to know about PCP car finance.

Latest Expert Ratings

Kia Stonic

Other than stiffing buyers of the base models when it comes to safety, the Kia Stonic is praised for its driving dynamics and Kia's seven-year warranty.

Cupra Ateca

The Cupra Ateca has received generally good media reviews, which have praised its impressive performance and unique proposition in the marketplace.

Limited-edition Cupra Ateca bolsters line-up

Cupra has announced a limited-edition version of its not-a-SEAT Ateca performance SUV.

Refreshed Mitsubishi Mirage arrives in UK

The revised Mitsubishi Mirage is now available in the UK, with pricing starting at £10,550.

Car finance lender forced to pay customers £30 million in compensation

Car finance lender Moneybarn has also been fined almost £3 million by the Financial Conduct Authority (FCA) after failing to help vulnerable customers.

UK used car market holds steady in 2019

Some 7.9 million used cars changed hands during the year, almost exactly the same as the previous year

More from The Car Expert

Expert Advice

Award-winning, independent and impartial advice on buying, financing, owning and running a car

Expert Ratings

We analyse and aggregate dozens of media reviews for each new car into an overall Expert Rating

Expert News

All the most important new car launches, model updates, car reviews and industry news

Expert Partners

Our new space for commercial partners to bring you special offers on their products and services

What are your thoughts? Let us know below.