We all know that motoring can be an expensive business, but there are many different ways that you can ease the burden on your pocket, and make sure you enjoy motoring for what it is. You want to lap up the joy of the open road, not worry about fuel and repair costs, or the residual value of your car. So in that sense, you probably already know that car leasing can be a more cost-effective option than buying a car, but have you considered used car leasing?
Used or pre-owned car leasing works exactly the same way as new car leasing, except for the car itself. Typically this will be an ex-lease vehicle that has had one previous user so it is likely to be between one to three years old and with only a few miles on the clock. You can certainly pick up a
bargain if you are looking for a used car leasing deal, so let us explain why it makes motoring sense.
Used car leasing is cheaper than new car leasing
The majority of a car’s depreciation occurs in the first 12 months of its life. A brand new car will rapidly lose value as soon as you drive it, and so if you come to lease a used car that is, say, two or three years old, it represents less risk to the car leasing company. Therefore, they can afford to lease it at a much cheaper rate than a brand new car.
The best cars are hand-picked for used car leasing
Car leasing companies will hand-pick their very best cars for used car leasing, because they have to offer a product that represents value for money. Used cars will also undergo rigorous health checks and servicing prior to being put on the lease market, so you can be assured that a used car made available for lease is in good condition and will provide you with good value motoring.
Available now
You are choosing to lease a car that is pre-owned, and hence there are no options to choose a new colour or order special in-car technology enhancements. The car is available how you see it, and hence, it is available straight away. Everyone can relate to the excitement of driving off in a new car, and used car leasing is the best way you can achieve that as quickly as possible.
Choose your terms to suit
As there is less value tied up in a used car the car leasing company can be more flexible with regards the term of the lease agreement. This means that you have more scope to choose the lease period that suits you; either longer or shorter in length.
You can also have more choice of mileage restrictions. It is possible the lease company will allow you a slightly higher mileage than for a new car, because the majority of the car’s depreciation has already taken place. You will also have more flexibility over the deposit you pay. This could be lower than normal as there is less value tied up in the car, so it carries less risk for the lease company.
Warranty is still valid
There is often a remaining period of warranty on a used car, and this can be transferred to you as the new user of the car. It always offers you peace of mind to have your motoring covered by a warranty, and it is possible that you can negotiate an extended warranty period with the lease company, or where no warranty is remaining you can agree a short period to cover you for the first six months of the lease, or a comparable period.
Maintenance included
Most used car leasing deals have service and maintenance packages included in the fixed monthly payment you make. This can save you money over the lease period, but is also a convenience, in that you know exactly what your regular motoring costs will be and can budget accordingly.
Shop around
With used cars there are many more variables that can differentiate one car from another in terms of value. This means there are more options if you want to shop around. If you want a specific mileage for an age of car, you are sure to find it somewhere, and probably with the colour and internal spec that you want. But if age is more important than mileage, and you really want some remaining warranty on the car, you will be able to find that too.
Used car leasing is really on the increase, and it means the pre-owned car market has had a new lease of life, so now is a great time to consider used car leasing for your motoring needs.