Why is car leasing so popular?

Why is car leasing so popular?

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Car leasing is on the up

Over the past couple of years, personal car leasing has become incredibly popular. Initially a concept popular in America, where currently 1 in 4 cars are leased. The reason for this sudden boost in popularity is due to the huge amount of benefits that come with leasing instead of buying a vehicle.

For example, you don’t have to worry about depreciation. As you know, the second you drive away in a brand new car, it starts to lose value and you have to constantly care for your car to protect its value. However, with leasing you don’t have to do this. At the end of your car lease term you can simply hand the car back without having lost any money. This lack of depreciation makes car leasing a lot cheaper than buying outright. It also means that you can get yourself into a new or well-maintained car every couple of years or so.

It is also organised in manageable monthly payments that are at a fixed rate. So you won’t have to take out a large bank loan to cover the cost of buying a brand new car. You can also choose whether or not you want to pay a deposit at the beginning of your lease to reduce the monthly payments.

Car leasing is on the up
Car leasing is on the up

You don’t have to worry about leasing being too expensive either, as there is a car for every budget. If you have a very tight budget then you could get something like a Chevrolet Spark or Volkswagen Up. If you have a higher budget, then you could go for something like a Mercedes or Audi. Whatever budget you’re working with, there’s a car to match. This accessibility for everyone is probably one of the main reasons car leasing is so popular. It is also a chance for people to drive a car that they may not have been able to afford if they bought it outright.

Car leasing is also very popular for businesses too, and not just as personal leases. This is because it is a very cost-effective way for businesses to get a reliable fleet of vehicles. The monthly payments help with cash-flow, and the lack of depreciation means that business can get a new fleet of vehicles after they have finished their lease, without losing any money. Getting new fleet vehicles every couple of years really helps maintain their business image too.

And finally one of the reasons car leasing is so popular is that it is accessible for everyone regardless of their credit situation. Although lots of people may have good credit, there are plenty of people with bad credit who still need a viable car leasing option. At Zero we can help everyone regardless of their credit situation, so car leasing with bad credit is a popular option.

With all the benefits of car leasing, it’s easy to see why it’s become very popular over the years. Car leasing is a cost-effective, stress-free way for people to find their perfect car.