Personal car leasing is becoming more popular each and every year, and when you see all of the benefits that it can bring, especially for a home business owner, it is easy to see why this is! For those of you unfamiliar with car leasing and whether or not it is the right fit for you, don’t fret, as we have listed below our top reasons as to why you should think about leasing a car instead of buying.
Get a New Car Every Couple of Years
One of the main attractions as to why some people love to lease a car is simply because you can drive a shiny new car every couple of years depending on your agreed lease. For some, driving the latest models or a brand-new car is not a necessity, however, if you are the type of person who just loves cars and wants to have this option for driving a lovely new vehicle every few years, then personal car leasing is definitely worth it! It will also make you look impressive and will build trust and credibility with your business’ clients as they will see the car as a symbol for your success.
For some, they also love that when purchasing a new car you will be enjoying all of the latest safety and technological innovations. Another reason why having a new car every couple of years is ideal for some is that the car that you are looking to drive now may not be the car that you need in a few years’ time. For example, if you have family you may need a bigger and more practical car, as you may use this car for business and personal driving excursions.
Business Needs
As a business owner, personal car leasing is definitely something that you will want to look into. Car leasing is very attractive for businesses as you can deduct nearly all of your payments as a depreciation expense. Who doesn’t love VAT benefits? Laws can be different depending on where you are in the world, however, so double check with your accountant first before diving into a car hire agreement.
Want to Drive a Car That Is More Than You Can Afford to Buy?
If you want to drive a car that is more expensive than what you can afford to buy outright, car leasing is the perfect option. When leasing a car, you won’t need much upfront cash and some leases don’t even require a down payment. This can be attractive over purchasing a car as you will normally need a large deposit to put down on the car if you want to lower the finance rate. If you don’t have the cash for a down payment at this current moment in time, then car leasing is definitely attractive. Furthermore, your lease outgoings will be much lower compared to a load for a purchased car that is within the same time frame and if you keep an eye out for the latest car leasing deals, you may be able to save even more money.
Now that you know all of our top reasons for car leasing, it is time to decide whether to lease or buy! Remember, car leasing won’t be for everyone, but for many business owners it is a fantastic option and can provide you with your dream car that you may previously not have been able to afford.
