CarLease UK

Car Leasing & Contract Hire News, Mews & Reviews

Is it Better to Lease or Buy a Car after Brexit?

23 February 2017 by phil

brexit-car-lease
Are you really buying a new car after Brexit?
Achieving certainty of cost is now more important than ever. With the UK exiting the European Union we have been threatened with rising costs and inflation, a reduction in living wages, increased interest rates and a fall in consumer spending. For us as individuals, this means that every decision we make has to be a valuable and thoughtful one…

Taking the decision to procure a new car could be scary prospect for most people – should you really put thousands of pounds towards a depreciating asset when a mortgage could increase or your job could be at risk? Add to that, when you purchase a car, whether a cash purchase or hire purchase, the risk is with you.

If market valuations change and the car is worth less than you thought or, even worse, the car is worth less than your outstanding finance, it is you the customer who will suffer the most.

volvo-v4
Contract hire is without doubt the fastest growing, and preferred method to operate a car and van. Contract hire is not a purchase method; you will never own the vehicle. However, is that really such a bad thing when you cannot say with any degree of certainty how much your car will ,or will not, be worth.

Contract hire, or leasing as it is a referred to, is a fixed contract for 2, 3 or 4 years and is based around you paying a monthly rental for the duration of the term. The price you pay per month will be based on the car, your annual mileage, the term and whether you want a driver-maintained or funder-maintained contract (contract hire can include the cost of all servicing, tyres and maintenance if you need it). However, the most crucial thing to note here is that you receive a fixed cost per month, so regardless of how the market changes and develops, your rental will never change (unless the cost of road fund licence changes).

Leasing vs Buying is still a difficult question for many to answer but ultimately the decision you make should be based on accurate information. A dealer cannot promise that your car will be worth a set figure in 2 or 3 years, in the same way we cannot say that contract hire is always going to be beat any other finance method.
vw-passat

You really need to ask yourself what you want to achieve with your car. Are you looking for a fixed cost solution on a new car, with the ability to include maintenance or do you want a cheaper used-car option, with flexibility to sell at any time. These are the types of questions you really must ask yourself before making what is your second biggest purchase decision after your house.

Learn more about car leasing in our help and advice pages or browse for the cheapest, best lease car deals here on our UK website… leave us your comments below on if you will buy or lease a car after the UK leaves the EU.

Filed Under: Featured Tagged With: Brexit, EU, guides, leasing

In Review; Jaguar iPace 294kW EV400 HSE 90kWh (Auto/ Electric)

All electric cars are ugly and unusable? Surely electric cars are just short-term phase and won’t really catch on? … [Read More...]

In Review; Tesla Model 3 Long Range AWD 4dr (Auto/ Electric)

What is the best electric car to lease in 2019? When is that new Model 3 Tesla ready to price and order? Looking back over … [Read More...]

Best Audi A3 Car Leasing deals

The Best Audi A3 Car Leasing deals

Audi A3 Car Leasing Deals Happy new car day to this Camden-based personal leasing customer. And a big thank you to … [Read More...]

the ultimate electric supercar

Is the Porsche Taycan the ultimate electric supercar?

The Ultimate Electric Supercars are available now Nothing has given the world of EVs more credence, or excitement, than … [Read More...]

Do I need to regularly charge my PHEV

Do I need to regularly charge my PHEV?

Thank you to our business car leasing customer, from Hereford, for sending pictures of their latest fleet addition - the … [Read More...]

Audi PHEV Car Lease

Audi PHEV Car Leasing

Audi PHEV Car Leasing Thank you to our business car leasing customer for allowing our dealership partners, Worcester … [Read More...]

Lease a New Car Before Brexit

Why NOW is the time to lease a new car (before Brexit)!

If you are able to turn your attention away from the COVID/Coronavirus situation for just a moment, you may remember that … [Read More...]

No Deposit Car Leasing

No Deposit Car Leasing – Myth or Real?

Do I have to pay a big deposit when I lease a new car? Firstly, thank you for the pictures of this brand-new BMW 3 … [Read More...]

Find & Follow CarLease UK

search for a lease car

In Review; Jaguar iPace 294kW EV400 HSE 90kWh (Auto/ Electric)

… [Learn More...]

In Review; Tesla Model 3 Long Range AWD 4dr (Auto/ Electric)

… [Learn More...]

In Review; VW Golf 2.0 TDI R-Line 5dr DSG (Diesel/ Auto)

… [Learn More...]

In Review; Tesla Model S 90kWh Dual Motor 5dr (Auto/ Electric)

… [Learn More...]

Best Electric Lease Car Deals 2019 for Company Car Drivers

… [Learn More...]

Best Audi A3 Car Leasing deals

The Best Audi A3 Car Leasing deals

Audi A3 Car Leasing Deals Happy new car day to this … [Read More...]

the ultimate electric supercar

Is the Porsche Taycan the ultimate electric supercar?

The Ultimate Electric Supercars are available … [Read More...]

Do I need to regularly charge my PHEV

Do I need to regularly charge my PHEV?

Thank you to our business car leasing customer, from … [Read More...]

Audi PHEV Car Lease

Audi PHEV Car Leasing

Audi PHEV Car Leasing Thank you to our business … [Read More...]

Lease a New Car Before Brexit

Why NOW is the time to lease a new car (before Brexit)!

If you are able to turn your attention away from the … [Read More...]

No Deposit Car Leasing

No Deposit Car Leasing – Myth or Real?

Do I have to pay a big deposit when I lease a new … [Read More...]

van lease uk promo

CarLease UK, VanLease UK and School Minibus Leasing UK are trading names of CarLease (UK) Ltd,

Call 01942 608 606 or Contact Us

Browse by Manufacturer | Check the Latest Deals | Browse by Type | Get Help & Advice | Areas Covered | News & Car Reviews

Ts&Cs | Privacy Policy | Procedure For Complaints | Information Notice  |  Initial Disclosure Document  | Terms of Business | Sitemap

All images on this website are for illustrative purposes only.

CarLease UK & VanLease UK work alongside a limited number of finance providers who may make payment to us if you enter into an agreement with them. Failure to maintain payments may result in the vehicle being withdrawn.

CarLease (UK) Ltd is Authorised and Regulated by the Financial Conduct Authority FRN 706617. Please note that CarLease (UK) Ltd is a credit broker and are not a lender. | FRN 706617 | BVRLA Membership No. 1471 | Data Protection Reg. ZA088399 | Registered in England 09312506

Copyright 2018 © CarLease (UK) ltd. All Rights Reserved.Registered Office Kings Business Centre, Warrington Road, Leigh, Manchester, WN7 3XG.
Call 01942 608 606 or Contact Us