Nationwide Vehicle Contracts provides industry insight into how to find the best car lease deals when dealing with a costly living environment.
The last few years have been economically tough for motorists in the UK, so it's been challenging to find affordable car leasing deals.
However, with the right strategies and knowledge, you can still secure a great car lease deal that fits your budget.
In this blog, we provide valuable tips and industry insights on how to navigate the car leasing market so you can find the best lease deal.
Research
As always, before buying any product, do some market research. Car leasing is a large financial commitment, so you want to ensure you're doing business with a reputable and trustworthy business.
Have a look online at leasing broker's pricing and customer service, which are key indicators of how well a business is run. Plenty of resources exist to help gather information, such as Trustpilot.
Compare Offers
If you come across a good deal, don't settle immediately; shop around different brokers and compare offers. This will help you get a gist of what is a good deal, as you'll be able to see average pricing, incentives, and lease terms.
When comparing deals, consider factors such as monthly payments, deposit requirements, mileage limits, and contract duration, as these will vary from broker to broker. Ensure that the deal you go for aligns itself with your requirements.
Timing is Key
Like most industries, the time of year you're looking for your lease deal can massively impact the price. Brokers often offer seasonal promotions with reductions in price, such as Black Friday or January deals.
Also, salespeople may be more willing to negotiate a lower price on a vehicle towards the end of each financial quarter to help hit their targets. Don't play this as your trump card in your negotiations, but it's worth considering when trying to find a good deal.
Consider Various Brands
In times of economic scrutiny, prices for premium products are often out of reach for most. The same goes for the leasing industry. When money is tight, consider budget brands that come at a reduced cost.
The great thing about the competitive nature of the car industry nowadays is that even budget brands come with superb technology and excellent built quality. So, even if you're used to a premium German brand, consider cheaper alternatives, as they often fit the bill.
In the last few years, we've seen an increase in the popularity of various 'budget' car brands. For example, cars like the Nissan Qashqai and Volkswagen T-Roc have become hugely popular in the UK thanks to their affordability, build quality and good technology.
Used Car Leasing
If you're set on leasing a car but don't want to cough up costly payments for a new car, used car leasing is a good alternative. Used lease cars are in great condition, and are usually only a couple of years old, meaning the car will feature some of the latest technology.
There are various financial benefits included in used car leasing, such as lower monthly payments, a lower down payment, and potentially lower insurance costs.
You also get an opportunity to lease a high-end model for a fraction of the cost of a new car lease. This way, you can enjoy the benefits of a premium vehicle at a more affordable cost.
Conclusion
Finding a good car lease deal in a costly living environment can be time-consuming, but by using our tips above, you should be able to increase your chances of securing an affordable lease deal that suits you.
Remember to stay patient, informed, and explore various options before making a decision.
If you're looking for an affordable car lease deal, Nationwide Vehicle Contracts provide various services to suit your every need.
From our affordable lease deals to our used car leasing service, we are here to help you every step of the way.
For more information, check out our car leasing page or ring one of our experts on 0345 811 9595.
