Buying vs Leasing

Every driver is asking themselves what the best option is for when they want to get a new car. It’s obvious what EHL prefer but, we will show you the actual pros and cons of each option, to let you decide what is best for you.

Benefits of Leasing

1

Driving a brand-new car

2

Low initial payment

3

Fixed Monthly Costs

4

Easy delivery

5

No hassle of selling
your car at the
end of your lease

6

Maintenance covered
(additional fee)

7

No balloon payment
at end of lease

8

Business lease customers
get positive tax benefits

Cons of Leasing

·        You do not own the vehicle, will give back the car at the end
·        Watch your mileage, you will need to ensure you do not go over you limit otherwise additional costs will ensue
·        Poor credit means it may be difficult to lease, payment must be made monthly
·   You are still responsible for the wear and tear of your vehicle, read our guide here

Benefits of Buying

1

You own the vehicle
and do not need
to return it

2

Do not need to worry
about going over mileage

3

You can sell it at the end

4

You can make changes
to your cars appearance

Negatives of Buying

• Depreciation – cars lose their value dramatically, and as soon as you buy it, you will no longer be able to get the price you paid for it. It will be difficult to get back what you paid when it comes to the time
• High price to pay upfront
• Need to pay for road tax and any cover
• As the car gets older more and more problems will start to arise
• Will need to pay for all maintenance and servicing
• Can be very difficult to sell your car