Read our reviews...
*Price Guarantee *Free Delivery *Personalised Finance
October 31st, 2020
If you’re ready for your next car, you may find yourself wondering whether you should lease or buy it. Perhaps you don’t even know the difference between the two! When it comes to leasing or buying a car, there are pros and cons of both. Before you make a decision, it’s important you’re clued up on the advantages of each option.
To make things easier for you, we’ve put together a few things to consider.
When you lease a car, you don’t actually own the car. However, leasing a car can be far easier to manage financially; you don’t have to pay a deposit up front and you have a fixed monthly cost each month for the length of the contract.
Leasing is essentially long-term car rental. Rather than purchasing the car, you simply give it back at the end of the term and move on to lease your next car. Typically, you’ll pay a larger sum as the first payment and then lower fixed monthly payments for the rest of the term.
Lots of leasing arrangements include other costs, such as servicing, tyres and tax. As there’s no buyout option at the end, changing your car is much easier – and you don’t have to worry about the cost of the car’s depreciation either!
Buying a car is suitable for people who have a lump sum of cash waiting to be spent on a car. When you purchase a car upfront, you have full ownership of the vehicle and it’s yours to do whatever you like with – there is no returning.
You have the freedom to sell your car at any point and you have no mileage restrictions or excess mileage charges to pay. However, when you buy a car upfront, it depreciates in value the second you leave the car dealership, meaning you’re already losing money.
Think about the following before making a decision:
At Global Vans, we can offer you an excellent price on a new car with flexible financing options. Visit our website to learn more today!
Whether you’re a window cleaner needing to transport a 1000L tank, or you just need to make sure you can get materials and […]
Leasing a vehicle has lots of benefits for businesses. You’re able to spread the cost of your vehicle across the term of the […]
Commercial pick-ups are versatile, multi-functional vehicles. You can carry heavy loads, tow, and even transport your team. With major manufacturers offering great commercial […]
Finding the right van for you and your business is important. As the best-selling commercial vehicle in the UK the Ford Transit Custom […]
As we all pay more attention to how we are affecting the environment, you may have considered how you can reduce the environmental […]
Residual value refers to the estimated value of your vehicle at the end of your van lease. Here, we’ll explain why residual value […]
Your funder can charge you for exceeding your quoted mileage and damaging your vehicle beyond what is considered ‘Fair Wear & Tear’. These […]