Ok, so the economy might be a bit fragile at the moment (depending on who you ask), and new car registrations may be on the slide, but it’s not all bad news. Just because there isn’t as much cash floating around doesn’t mean you can’t drive a new car.
You can always lease one instead.
You might expect us to say that, but it doesn’t mean leasing isn’t the best way for many of you to get behind the wheel of a new car this year. Affordable up-front costs, low monthly payments backed up by strong residual values on many premium vehicles means leasing is a brilliant way to ensure you keep your car up to date.
Let’s give this some kind of context. The recommended lifespan for the mattress on your bed is eight years (or 96 months). The average mobile phone contract is between 24 and 36 months. Seems reasonable doesn’t it? Yet some car manufacturers are reporting that the average time people are replacing their vehicles is just 18 months.
Automotive data specialists cap hpi are describing this as the “iphonification of the automotive industry” and it’s largely down to consumers increasingly choosing pay to drive, rather than pay to own their car. A decade ago most motorists held onto their cars for at least five years, that average has now dropped to just two years.
This shift is largely down to the rise of Personal Contract Purchase (PCP) and Personal Contract Hire (PCH). Traditionally the car was the second biggest financial purchase after the roof over your head, now it’s becoming just another device that can be upgraded on a regular basis. We are already comfortable with the notion of paying a fixed monthly sum for our phones so why not apply the same logic to our cars?
Leasing a new car gives you the flexibility to be able to upgrade on regular basis whilst providing financial stability. You can change your car to suit your circumstances without having to worry about depreciation affecting the trade-in value, and your monthly outgoings are fixed, especially if you do the sensible thing and opt for a maintenance package. Given that the car is still something of a status symbol leasing also provides the opportunity to drive something that you wouldn’t necessarily be able to justify if you were paying up front.
It also means you can keep up with the latest technology. On average the production cycle of a new car is around four years. After two years there is usually some kind of mid-cycle update that includes a bit more technology or a few extra options, and at the end of the four years that particular model is replaced with a brand new version. Leasing can give you the flexibility to swap your car for the updated version after two years, and then swap it again when the latest models are released another couple of years down the line. All without having to buy the car in the first place.
There is a huge range of cars and lease deals available to suit every need and every budget. Leasing can open up an entirely new range of cars and options that you may never have considered, or considered you could afford. That’s no longer the case. Whatever your requirements, and whatever your budget, we have the car for you at a price you can’t afford to ignore.
Why not start your search today by checking out our latest special car leasing offers here: latest special leasing deals.
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