A car is a necessity and whether you choose to buy a new one or lease one, you need to look at the quality of the vehicle first. Thankfully, with such options available, you can get a car as soon as you like it. Both have its own perks but today Car Leasing seems to be the more popular and more beneficial option for many.
Benefits offered by leasing as opposed to buying
Let us look at the costs involved in car buying. One is the large amount. Second, you need to pay a hefty down payment at first and then there are the monthly loan amounts. Also, think about the bank processes which can be confusing as well as lengthy. Now, think what happens after just three or so years down the line? You have to either sell the car or get a new one, but you will find that you do not even get half of your invested money back. Thus, it is a practical decision when you opt for leasing rather than buying a new vehicle.
When you lease a vehicle, you only pay a smaller amount and your monthly payments are also less as compared to a car loan or finance you have taken. Also, you need not worry for the entire lease period about maintenance as well, as all these charges are included. The road tax is also inclusive. That means, as the lease period ends, you can hand over the car back to the dealer.
Economyleasing also offers you the flexibility of buying the same car or leasing another vehicle. There is one more advantage to it and that is, when you opt for Car Leasing, you can get to drive a new and different car every two or three years, depending on the lease period.
Leasing vehicles makes sense for businesses as well, because of the tax benefits. If your business is registered under VAT, you can get full refund for the leasing payment and if the car has been used for dual purposes, that is for business and personal use, then also you can get 50% refund of the tax you pay.
The main benefit is the money saving. Buying involves a lot of money and you may be owning an asset when you own a car but at the end of the day, there are additional charges to be considered, be it the down payment, the loan, the monthly interests, and so on. Also, it is not a sensible investment as far as ROI or return on investment is concerned because a car only depreciates in value over the time.
Thus, leasing is more a practical option and also a financially wise decision.