How to lease a car on a small budget

March 21, 2017 • Tech

Whether you’re taking the children to school or you’re heading to an important business meeting, having access to a car is important. Keeping your car up-to-date, however, is an entirely different kettle of fish; it’s often expensive to upgrade your car, and, as such, you may be stuck with the same inefficient model for years on end, hoping that one day you’ll be able to afford a new model. It is possible, however, to get a brand new car on a budget, and that is by leasing. We’ve put together everything you need to know about doing so.

Shop around – and don’t choose the first vehicle you see

The excitement of a new car – whether that’s buying one outright or leasing – can often lead to us making irrational decisions. Instead of choosing the first vehicle you see, whether that’s for its aesthetic value or a good price, you should shop around and make sure you’re getting the best value for your money. Consider asking your friends for recommendations of quality leasing companies, or look online for companies that have a good reputation. If you are leasing a van, for example, consider a company such as Leasewell, who guarantee the best price in the UK and offer fast and free delivery across the United Kingdom.

Lease a second-hand car

Although you may think that leasing relates only to brand new models, it’s entirely possible to lease a second-hand car. Indeed, many leasing companies offer second-hand leasing at discounted rates, allowing you to save money and get a great quality car on a budget. Although problems with second-hand vehicles are likely to be covered by your leasing contract, you should still follow a second-hand car buying checklist. Make sure the tyres are in good condition, that airbags are fitted and that all warning lights are operating normally before signing up for a contract – and demand that small issues, like dents, paint chippings, and malfunctioning minor controls are fixed before the vehicle is handed over.

Avoid extras

As Money Saving Expert Martin Lewis writes, you should avoid adding fancy extras to your lease hire, as it can bump up the cost of your monthly repayments. By demanding features like colours, tinted windows, air conditioning and leather interiors, you can significantly increase the amount you’ll pay on a monthly basis, so avoid them at all costs if you want to save money and stick to your budget. You should aim for the ‘standard’ model of your chosen vehicle – avoid being tempted by fancy extras by ordering your lease online, or take a member of your family to the showroom to ensure you don’t make unnecessary splurges.

If you’re sensible with your money and head to the showroom well-researched and ready to lease, you’ll be able to save and stick to your budget. Whether you’re new to lease hiring or you’re a seasoned professional, our top tips should help you find the right vehicle at the right price.

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