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Used Car Leasing

Used car leasing is often considered a cheaper alternative to buying a car outright, as the total cost is spread over a period of years in fixed monthly payments. 

Leasing a used car works in almost the exact same way as leasing a new car; you enter an agreement to effectively 'borrow' a car for an agreed period of time, paying monthly until the agreement ends. Once the agreement is over you either return the car to the lease company, or pay a final payment to buy the car from the lease company (depending on the terms of your agreement).

Used car leasing is often considered more affordable due to cheaper monthly payments. However, this isn't always the case. In fact, leasing a new car can work out to be the same - if not cheaper - than leasing a used car.

Used Car Leasing vs. New Car Leasing

When leasing a used car, there are three important factors to consider:

  • Vehicle condition - the car could require repairs, which can be expensive if you don't have cover for mechanical failures. Most used cars will not come with a warranty.
  • Mileage - the average car does 12,000 - 15,000 miles a year. Check the car's mileage to be sure you are getting a fair deal.
  • Hidden costs - beware of hidden costs/fees in used car lease contracts. 

It is important to do your homework if you are planning on leasing a used car. You have to account for the age/condition of the car, and you may want to check the car's history for MOTs and services. Failing to do so could result in costly payments and repairs.

The Benefits of New Car Leasing

Nowadays, leasing a new car is often a more cost-effective solution overall than used car leasing. Not only do you get the security of a new car (less likely to break down/need repairs), but most new car lease deals come with added benefits and promotions such as free road tax; MOTs etc.

Benefits of leasing a new car, as opposed to a new car, include:

  • Cheaper alternative to buying a car
  • Monthly payments are on average between 35-55% less than repayments on a car loan
  • Brand new car - less likely to need repairs
  • Road tax is included at BestCarFinder
  • Maintanence packages are often included/optional

BestCarFinder offers a huge range of competitive new car lease deals. Check out some of our latest deals on new cars below: