Leasing vs Buying Your Next Car

So, you’re ready to take the plunge and get a new car. If you afford to pay for your new vehicle upfront, then you should be looking for the best way to finance your new motor. There are a lot of pros and cons to both leasing and buying your car. Our comprehensive guide will help you choose the best option for you.

Leasing a car

Leasing a car can be compared to a long term rental. You pay a monthly fee to use the car for the years and mileage agreed within your contract. This is known as personal contract hire (PCH) where you lease a car for a short period of time e.g. 2 years. You pay relatively low monthly repayments and return the vehicle at theend of your lease.

Buying a car

You can buy a car privately or from a dealership, giving you outright ownership of your vehicle. But buying a brand-new car will be expensive to begin with so make sure you shop around for the best deal.

So should you lease or buy your car?

There are many pros and cons to both leasing and buying a car. You need to consider what is best for you financially and what you need in the long run. Make sure you are able to keep up with your monthly payments if you choose to lease a car. Comparecar finance deals before signing up to make sure you get the most for your money!