What are the benefits of leasing a car over buying one?
In: Economics
As you have probably realised it is an expensive way to buy a car, often more than buying it outright, even a new car outright.
I asked someone about it before when they bought a brand new car on lease and they gave the following reasoning:
* It is really convenient; often lots/all of the extras are included, like servicing or even road tax (something you have to pay on cars in the UK). Also some lease plans come with insurance included. So you don’t have to worry about getting it all separately.
* At the end of the lease, say 3 years, you give the car back and get *another brand new car.* Normally you would need to go through the process of selling/part exchanging your car.
So bottom line, it is more convenient *for some people.* However, if your priority is saving money, leasing is almost always as expensive/more expensive than buying a car, and MUCH more expensive than buying used.
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