When it comes to choosing a new car there is always the argument of buying versus leasing and which way to go. It can seem like a minefield with people giving their opinions and making the experience of owning a brand new car, not quite the celebration and exciting time that it should be. 

So let us help you understand the difference between buying and leasing in a completely open and honest way. 

Below is a simple table of pros and cons for both sides of the argument – Lease Vs Buy:

With anything, there are two sides of the coin to every argument, but vehicle leasing has become more popular than purchasing due to the simple fact that it gives you more freedom and choices.

Other things to consider are: - 

Exceeding Mileage 

In many contracts for car leasing, there are charges for additional miles added over and above the agreed yearly mileage. This on average can vary from between 3p to 13p per mile, so be sure that you check this out in any agreement. It might seem odd that we are pointing this out, but here at VLM we want our clients to understand everything about leasing a car, it is by far the best option and certainly one that gives you great flexibility but that also doesn’t mean there aren’t a few things you shouldn’t check out in the small print. 

The biggest thing with mileage is to calculate what your average currently is, and then plan for a few extra miles for the unexpected! That way, you can easily avoid these additional charges and just get on with enjoying driving around in your new car! 

Please remember these are flexible contracts so the mileage can be changed mid-term, but you will be expected to pay a small admin fee as well as your monthly repayments changing depending on how much you change the mileage. 

SO…. To Lease or to Buy?

Both have their merits and it really depends on your situation/circumstances but leasing gives you that flexibility for things that life throws at you, with low maintenance and MOTs taken care of as well as giving you the all-important option of picking your latest car as and when your lease comes up for renewal….and who doesn’t like that new car smell! 

Start your new car journey today with Vehicle Lease Management, contact us here and let us get you on the road in your new, dream car!