Four reasons why you should lease your next car

According to the latest reports, once of the fastest growing sectors is that of car leasing and renting. There has been a 40% rise in the number of leasing broker sector companies who are joining the BVRLA, helping to increase the number of vehicles operated by its members to more than 4.7 million.

BVRLA Chief Executive, Gerry Keaney, recently said: “In the past three years, both membership and fleet size have grown by more than 30%, which corresponds with the growing strength of the industry which is now more influential than ever.” So, what’s the reason for the increase in leasing cars? Here are our top four ideas…

1. You can stay on trend

Most young professionals today want to look the part, so the ability to swap your car at the drop of a hat for a newer model or a different manufacturer, is a real bonus. There’s no need to worry about advertising to sell your vehicle, or having to wait until your finance contract stipulates that you can trade it in – you simply drive back to the vendor in one car, and drive away in a brand new one. Convenient, simple and useful for those who have a reputation to uphold.

2. You can impress the clients

Speaking of your reputation, have you thought about the impact that your car could be having on your business status and brand name? Whether it’s an important business meeting you need to get to, a pitch to a potential client, or that job interview that you’ve been waiting for, leasing a new, professional-looking car is the quick and easy way of improving your image instantly, without even having to open your mouth.

3. You pay based on current value

One of the major drawbacks to buying a car is the inevitable depreciation in value. Most cars lose up to 19% of their value in their first year, which is why so many people end up buying cars that are older, avoiding a large loss when they come to sell. However, when you lease a car, your monthly payments are reflective of the current value of the car, rather than the price when it was completely new. In other words, you monthly payments will go down, freeing up your income. You can also get some fantastic deals on brand new cars with vendors like All Car Leasing.

4. Perfect for those with wanderlust

Finally, with so many quitting their jobs to travel the world, more people are opting to lease a car as they are unsure of future circumstances. You can’t just up-and-go if you have financial commitments that you’re tied to, so there’s an element of security when leasing a car that you don’t have any restrictions. Plus, if you decide to travel across the country, you can easily change your car to one that is more suitable for the journey.

Are you leasing a car right now? Tell us about your experience by leaving a comment.