Automobile: 5 Advantages Of Car Leasing
If you want to change your car, you may be hesitating between a traditional car loan and leasing or renting with an option to buy (LOA). To help you make the right choice, we have listed 5 advantages of car leasing for you.
1- It facilitates access to a new vehicle
Car leasing, also known as rental with option to buy or LOA, consists of renting the vehicle for a fixed period in return for the payment of a monthly instalment called rent.
Unlike a cash purchase or most traditional car loans, leasing with a purchase option does not necessarily require a down payment.
Thanks to the LOA without a down payment, motorists who don't have enough disposable savings to buy a new car have easier access to new or recently used vehicles.
2- Rents are not more expensive than the monthly payments of a loan.
Motorists who want to weigh up the pros and cons of leasing a car often wonder whether it is more expensive than buying on credit.
In fact, the rental payments for a lease with purchase option (LOA) are generally lower than the monthly payments for a traditional consumer credit.
Don't hesitate to negotiate the conditions of your leasing contract with a car agent like Autodiscount. An agent negotiates prices with car dealers and allows his customers to benefit from significant discounts.
Moreover, it is generally possible to modulate the amount of the monthly payments to be paid according to the duration of your contract.
On the other hand, leasing contracts are often accompanied by a fixed mileage that must not be exceeded. No changes to the vehicle are permitted during the lease period, as the vehicle must be returned in the same condition at the end of the contract.
However, these disadvantages are minimal compared to the financial and practical advantages of this formula.
3- Leasing is a flexible and non-binding solution
Unlike a traditional car loan, leasing with a purchase option does not require you to purchase the vehicle.
Car leasing is a more flexible formula than a credit, with no commitment to purchase.
At the end of your lease contract, you have the option of returning the vehicle, buying it for the amount defined in the contract or even selling it to a third party.
Please note: the overall cost of the vehicle is potentially higher if you buy it. The interest of the LOA lies rather in the use of a vehicle in good condition than in the purchase (even if this possibility remains available to motorists who want to buy the vehicle).
At the end of the leasing period, you are also free to take out a new leasing contract or not.
4- It allows you to change cars regularly
As car leasing is without obligation to buy the vehicle at the end of the contract, it allows you to change cars more often, depending on your needs and desires.
It is a solution particularly adapted to people who always want to have a recent vehicle.
The LOA is also a good formula if your needs in terms of space, performance or equipment change.
This type of lease will perfectly meet your expectations if you need to change your vehicle because your family is growing or you need a particular vehicle for professional reasons for example.
5- Services are sometimes included in the contract
The last of the 5 advantages of car leasing lies in the services sometimes included in the lease contract with purchase option.
Indeed, some car leasing contracts include additional services such as insurance and maintenance of your vehicle or assistance in case of problems.
This way, you don't need to take out any additional contracts and you can enjoy your new vehicle with peace of mind thanks to an all-in-one contract.
