Do you find yourself constantly cranky and moody in the morning because you had to wake up extra early just so you could get to work on time and beat the rush hour traffic jams, or just the high volume of commuters going to work? Do you go through and add up all of your expenses at the end of each month, or maybe even week, just to be shocked to see how much you spend on commuting fares, whether by train, bus, or taxi? Do you find yourself irritated that you spend a huge chunk of your time on the road riding the bus or inside the train station to wait for your train because there are just too many people riding with you? If you answered yes to all of those questions, do not worry, you are not the only person who is experiencing it! Maybe it is the perfect time to ask yourself, it is time to get yourself a car? And like most people, you would look at your bank accounts, your annual incomes, and of course your credit scores and think – no! All for the one reason that you could not afford it right now. Well, who said you cannot opt to leasing a car with bad credit? You may not get to own the car at the end of the day, but, at least it would solve all of your commuting nightmares without having to break the bank.
Ownership s Lease – Price
A car ownership would require so much more documents and proof of financial capacity compared to just going for a car lease. For you to secure a car loan that would help you pay off an expensive car such as a Peugeot 308 Active 1.2L Puretech, first and foremost is that you should have a good credit rating or else you would be given a ludicrously high interest rate that you would have to pay. The 308 Active costs a huge sum of £21,125. Imagine how many years you would have to pay for that and how high the interest rates you would have – you might just actually end up paying double (roughly around £40,000) for a car that only costs a little under £15,000 to lease out from Wheels4Sure for only a three year period. Not to mention, you get stuck with the car even after everything has been paid up, no matter its condition.
Ownership vs Lease – Commitment
With ownership, you are committed to keeping, maintaining, and paying for your car most especially with regards to its maintenance checks, oil changing every so often, repairs that may be due to the wear and tear of the car, insurances, and even third party accidental payments if it is your fault. This would go on for as long as you are the owner of the car, of course. And most especially for as long as you are paying off your car loan just to buy the car. When getting a car through leasing, you would only be committed to your lease period of usually only three years. After those three years, you would have the option to stop leasing totally or apply for a new lease where you could actually get to drive a brand new car of your choice. In that three year lease period, you would most likely not have to spend so much on the upkeep of the car because all necessary costs would still be covered by the manufacturer’s warranty.
Ownership vs Lease – Disposal
Disposing a car you own would be a tedious undertaking to go through. First, you would have to price and value your car at a certain price point wherein you would not be robbed of the price but at the same time, you must also take into consideration the depreciated value, wear and tear, and issues of the car that you would be selling. When you come up with a fair pricing, it would be yet another tedious task to actually find a buyer that would want to get it. This involves meeting with different kinds of people with a possibility of quite a number of test drives, of course. When a deal is closed, then you could already use that money to purchase a brand new car. But you have to remember, you must be willing to go through all of that again in the next couple of years when a new model comes out again. When you talked about a leased car on the other hand, it is the complete and total opposite because of the simple and hassle free process. Once your lease term ends in three years, you would just turnover the car to Wheels4Sure and be on your way. Should you want to extend your lease, it is no problem! Should you want to try out a different car, it would also be no problem, just get a new lease and you could be driving a brand new car in just the same week.