We all love a good story, but sometimes they can transform into myths, subsequently spread and are then considered fact. When it comes to car leasing, there are numerous myths around the process, the fees involved and what you must do when you hand the car back. Some of them are just plain untrue.
Which is why, as experts in this field, we’ve set about debunking these car lease myths, putting the world to rights, and inspiring confidence in those considering hiring an amazing new vehicle!
Leasing is a waste of money, you should buy and own a car
Nope. Not true. In fact, you keep more money in your bank account as you are not buying the whole vehicle, which is great because you don’t have to worry about depreciation of the vehicle you’re driving, so you never lose out when you sell it on. You simply pay your monthly fee and then hand your car back at the end of the contract, we deal with the depreciation stuff and you get to potentially pick another new car to drive away in!
You’ll be charged a lot for any tiny chips and scratches
You will only have fees to pay on a leasing agreement if you do not follow the guidelines set by your car leasing company. It’s important to read up on their ‘wear and tear’ conditions, what you must do before handing the car back and what is expected when it comes to maintaining the vehicle.
One of the most popular myths – people believe that a chip on the car or a scratch will incur a huge bill. But the leasing company you rent from should adhere to BVRLA standards, therefore you can read up beforehand on what is acceptable and what will be charged for. However, leasing companies understand that general wear and tear is going to happen so there is some leeway when it comes to damage.
You can’t drive long distances because the mileage is capped
Most leasing companies will work with you to secure the best deal when it comes to mileage; you can state what you wish your mileage to be and this can be worked into an agreement. It’s true that a higher mileage will result in a higher monthly repayment, because traveling more increases the rate the vehicle depreciates and the company must cover this cost.
The lease company pays for all the maintenance
While it’s possible to get deals where services and MOTs are covered during a lease, it is ultimately your responsibility to ensure your leased vehicle is maintained correctly. This means going directly to the dealer to have it serviced and ensuring it has its MOT on time – the vehicle must be roadworthy at all times.
So now you know, it’s time to browse our great range of vehicles available to lease! Click here and find a brand new vehicle to drive away.