Weighing up the benefits of buying your new vehicle outright or getting a car leasing deal where you can pay monthly instead can be tricky. At first glance it basically it comes down to some straightforward maths, and you can calculate the cost saving in theory after doing a little market research. There are some great car and van leasing deals out there, as well as competitive prices for vehicles to buy.
However, placing a value on each of the criteria you consider when finding a new car is not so easy, and this is what you must attempt before you can do any meaningful calculations. Establishing which of your requirements are really essential and which would be an added bonus can make all the difference to making a logical decision. You also have the think about the potential long term and short term savings, and balance this against what your situation is likely to be in a few months or even a few years.
You may choose to start by ruling out the option of looking at leasing deals for your new car or van based on a couple of basic criteria. For example, if you know you’re extremely keen on owning the car yourself from the moment you start driving it, and you have the required cash available without having to take any kind of loan, you’re highly unlikely to benefit from leasing. Read more