New Car Leasing vs Used Car Leasing
The benefits of car leasing over car buying are of course well known, but there are ways to save even more money on the car you drive, and that is by considering used car leasing.
Like anything in the motor trade, there are lots of deals around in the market, and there is no guarantee that a used car lease deal will be better than a new car lease deal, when you weigh everything up. It pays to scour the market and seek out the best deals and balance the many variables to find what suits you best, but with used car leasing there are certainly potential savings to be made.
What is used car leasing?
The term ‘used car’ may put you off if you are a steadfast or recent convert to car leasing over car buying. But in car leasing terms, a used car simply means a pre-owned car, or specifically, a pre-leased car. Used or pre-owned cars are often ex-fleet vehicles, and are usually only one, two or three years old. It makes cost-effective sense for a car leasing company to re-lease these cars, and then they can pass that saving on to you. After all, cars depreciate in value by 50% in their first two years, so leasing a used car can really provide some cost benefits.
What are the benefits of used car leasing?
We are one of the UK’s leading used car leasing experts, so we know there’s quite a good few reasons for choosing a used car to lease:
- Used cars for leasing still come with the remaining warranty available to you and valid, and many car leasing companies will also allow you to extend this.
- A car leasing company will give all pre-owned or used cars a full health check prior to making them available for lease. Therefore, you can be assured of their roadworthiness and prime condition.
- The car leasing company will hand-pick the best used cars from its available fleet and make them available for re-lease, so you know that all pre-owned cars will represent good value for money.
- With a used car lease deal you receive exactly the same terms as with a new car. This means you will need to pay a deposit and negotiate the contract length. You will also be faced by the same restrictions such as mileage, as well as driving abroad.
- Breakdown cover, road tax and maintenance will all be included in the monthly payment you negotiate.
- As used cars are already in stock at the car leasing company, they will be available for you to drive away immediately.
- The most obvious benefit of a new car lease deal is that you drive away a brand new vehicle. You are the first person to own or drive that vehicle, and, as you probably know, the cheaper concept of car leasing means you can probably choose a slightly better class of car than you could if you were buying a car, for the same money.
- You will receive a full manufacturer’s warranty with a new car lease deal.
- Because you are scouring the market for a brand new car, there will be more choice of manufacturers and models available and you are, perhaps, more likely to find the exact car you want, if you have a specific car in mind.
- You receive the same lease contract terms as a used car, in terms of deposit, contract length, restrictions, road tax, maintenance and breakdown cover.
- Leasing a new car will give you quicker access to new in-car technology and other advancements in motor design.
- It is typically easier for car leasing companies to negotiate deals for new cars, as manufacturers are more willing to offer discounts and promotional incentives. These won’t then be available for a used car. So if you shop around there may be some great deals to be had on a new car, where the car leasing company has passed this saving on to you.
- It is easier to assess the true market value of a new car, as opposed to a used car. You will be aware of the mileage and service history with a used car, but you will never know exactly how a previous user drove or handled the car. This is one of the reasons why used car leasing is cheaper than new car leasing. But money is not always the primary factor.
What are the benefits of new car leasing?
It may be that you’re thinking of choosing a new car lease deal instead. Here are some reasons why that is still a great choice:
As you can see, there are great benefits to leasing both a used car and a new car, and at Pink Car Leasing you have an extensive wealth of choice and can also take advantage of the knowledge of our sales experts. So whether you choose a used car or a new car, you know you are getting the best deal possible.