Range Rover, Jaguar, Mercedes – whatever luxury brand it is that’s caught your eye, it will always come with an equally impressive price tag if you want to buy it outright. The only thing is, you don’t have to anymore – these days, more and more people are realizing the value of leasing their next vehicle rather than buying it or taking out a loan or finance deal. Today, we’re looking at a few reasons why this is particularly useful if you’ve got your eye on an expensive model…
1. The depreciation factor
The biggest factor that works in favour of leasing is that you completely skip depreciation. When you buy any car, there will always be a drop in value as soon as you receive the keys, but with luxury models, the hit that your finances take is often significantly more. Plus, if you pay for it on finance, those payments will be fixed throughout the years even though the car drops steadily in value. When you lease, the depreciation is always taken into account, and the monthly payments are decreased over time to reflect the car’s new value.
2. No need to down-grade
The beauty of leasing a car is that, depending on the term length that you select, you can swap your car for the newest model on a repeated basis. After all, you’re paying for luxury, so why have anything less than the best? Whether it’s a top-quality Range Rover, the latest Jaguar (both of which you can check out over on vantage-leasing.com) or a brand new BMW, there’s never a need to drop your standards.
3. You can try a variety
As we said above, leasing allows you the flexibility to change your vehicle whenever you like, and for car enthusiasts, this means you don’t have to stop at just one luxury car – why not try several? It could be that you’re considering buying one in future but want to make sure it fits into your lifestyle, or that it has all the features you need – with leasing, you’ll be able to do much more than test-driving it.
4. The best car for the best price
Finally, one of the best reasons to rent your next car is because it simply cannot be beaten in terms of price, especially when it comes to the more opulent options on the market. Luxury might come at a price for buyers, but you’ll be able to lease the car of your dreams for as long as you wish, with no initial deposit, far lower monthly payments than you would pay for a car on finance, and this all helps to off-set the higher insurance payments a newer, high-end model is likely to cost you. Plus, for entrepreneurs, you can claim the tax back on your depreciation value and monthly payments when you use the car for work, whereas you can’t do this with loan repayments.
Have we convinced you to lease your next luxury car?