At Ask 4 Leasing Limited, we pride ourselves on helping drivers across the UK get behind the wheel of their ideal vehicle through flexible and affordable lease deals. Whether you're an individual looking for a personal contract hire (PCH) or a business in need of multiple vehicles, leasing can be a smart choice. But like any financial decision, it's important to weigh the pros and cons.
1. Drive a New Car for Less
Leasing allows you to drive a brand-new car every few years without the hefty upfront cost of buying. You simply pay a fixed monthly fee and return the car at the end of the lease term.
2. Fixed Monthly Payments
Your leasing deal comes with predictable monthly payments, making it easier to manage your budget. There are no surprises, just smooth driving.
3. No Worries About Depreciation
One of the biggest concerns with owning a car is depreciation. With leasing, you don’t have to worry about the vehicle losing value – simply return it at the end of your contract.
4. Road Tax Included
Most lease deals come with road tax included for the duration of the agreement, saving you an extra annual cost and hassle.
5. Optional Maintenance Packages
For extra peace of mind, many customers choose to include a maintenance package that covers servicing, tyres, and routine repairs.
6. Business Leasing Benefits
VAT-registered businesses can reclaim a portion of the VAT on their lease payments and may benefit from company car tax efficiencies.
7. Regular Upgrades
Love that new car feeling? Leasing gives you the freedom to upgrade every 2–4 years, so you're always driving the latest model with the newest tech and safety features.
While leasing offers many advantages, it’s not the right solution for everyone. Here are some key considerations:
1. You Don't Own the Vehicle
At the end of the lease, you return the car. If you prefer to build ownership equity or drive a car long-term with no monthly payments, leasing may not suit your needs.
2. Mileage Limits Apply
Lease contracts include an annual mileage allowance. If you exceed it, you'll face additional charges. It's important to accurately estimate your driving habits before signing.
3. Wear and Tear Charges
Fair wear and tear is expected, but any damage deemed excessive may incur extra charges when the vehicle is returned.
4. Early Termination Fees
If your circumstances change and you need to end your lease early, you may face substantial termination fees depending on your agreement.
5. Customisation Is Limited
As you don't own the car, modifications or personalisation options are generally restricted and may need to be reversed before return.
6. Ongoing Payments
Unlike buying a car outright, leasing involves continual monthly payments. You’ll always have a car payment unless you decide to purchase a vehicle.
Leasing can be a fantastic option for those who want low upfront costs, regular upgrades, and predictable budgeting. However, it’s important to consider your lifestyle, mileage, and long-term financial goals. At Ask 4 Leasing, our team is here to guide you through every step, ensuring you choose the best deal for your circumstances.
