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Is leasing a vehicle the best option if I don't drive a lot?

Published on Thursday 15 March 2018 in Van News

Is leasing a vehicle the best option if I don't drive a lot?

Working out whether leasing is for you…

For those that have never considered leasing as an option, THINK AGAIN. Leasing is the perfect way to get behind the wheel of a brand-new vehicle for LESS, and even more so if you don't drive a lot. Vanarama's Laura Day explains why.

The truth is, the big reason why some people reject leasing as a feasible option is due to concerns of exceeding their agreed mileage limit.

However, if you don't drive regularly, leasing could be the perfect solution because you're unlikely to go over your mileage allowance.

 

Back to basics

The average driver does 7,900 miles annually. So, before you choose a maximum mileage, it's important to consider your needs thoroughly.

Leasing comes with a variety of mileage options. From up to 30,000 a year, right down to 10,000 – there is something for everyone.

Your mileage allowance will affect your monthly payments. Mileage restrictions are put in place to ensure the pre-determined residual value of the vehicle at the end of the lease is maintained.

 

Managing my miles

A low-mileage lease could be the perfect solution for you if you don't drive your vehicle regularly. This would mean your miles are significantly lower than those in most standard leases, meaning you would pay a much lower price as well.

Most typical dealerships offer a minimum low-mileage lease of 10,000 miles per year – and this would be ideal for someone who doesn't drive their vehicle a lot.

 

Things to consider

Leasing a low-mileage vehicle would suit you if you…

  • Want to keep your monthly payments low
  • Don't plan to use the vehicle for long trips
  • Don't have a long commute to work/school
  • Plan to use the vehicle as a 'second vehicle'

 

Keep in mind

It's important to make an informed decision, so be sure to properly consider if a low-mileage lease is the right option for you – discuss it in length with your broker.

Think about your own driving habits. If your commute is fairly long, then a low-mileage lease probably isn't suitable. And if this is the case – don't worry. There are all sorts of leasing contracts with different mileage allowances – your perfect match is out there somewhere.

If you enjoyed this article, why not try out this one about how driving and vaping could cost you £2,500 and your licence!

As always, if you have any questions about leasing call us on 01442 838195 – we are here to help.

 

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