Car leasing vs buying

Brand new cars can be expensive, and whether you pay a deposit on it or buy it outright, it can often involve taking out a loan or saving up for years to afford the car you want. When you lease a car, the initial rental is often much cheaper and is usually taken up to two weeks after delivery. The monthly payments are affordable too, with fixed amounts meaning you'll always know what's coming up.

The cost of road tax and breakdown cover is all included in your monthly payments, while your MOT and servicing can be added at an extra cost. This means there'll be no nasty surprises when the time comes.

When you drive a brand new car, you get more than just a great ride. All the mod-cons will be included, giving you access to all the latest entertainment features and technology. Can a used car offer you surround-sound Bluetooth speakers and a touchscreen driver display? No, but our new car leasing deals can.

You choose your car, we'll sort the rest, delivering your brand new vehicle to your front door ready for you to drive. And unlike with a car you own, you won't have to worry about selling it on. You can just hand it back to us and drive off in another new leased car. Imagine that, a brand new car every few years without any of the fuss.

Used cars often come with hidden issues that could cost you lots of money over time. When you lease a car, you get a brand new model that can depend on for the duration of your deal. No past, no problems.

New cars come with new safety features, such as lane assist, reverse parking cameras, adaptive headlights and more. You won't find these with older, used models, meaning leasing is one of the safest options available.

Business leasing customers can take advantage of huge tax benefits, claiming back up to 50% of VAT on a car or up to 100% of VAT on commercial vehicles.

Cars don't need an MOT until they're three years old, so if your leasing deal is shorter than that, you may never have to pay for an MOT again.

Gone are the days of hoping your SatNav doesn't fall from your dashboard as you're driving. New cars include modern technology such as voice activation and connected mobile apps, helping you manage every aspect of your journey without ever taking your hands off the wheel.

It's easy to lease a car. You just need to choose your model, decide on your contract length and apply for finance. Once that's all sorted, we'll tell you your delivery date and send the car to your door.

You'll have to give it back at the end of your leasing period, and any decorations you've added will need to be removed.

You'll have to pay for any repairs and wear and tear that falls outside our fair wear and tear guidelines. You can read more in our leasing wear and tear guide.

You'll also need to be able to pay the same amount every month, so if your finances are flexible it might not work for you.

If you exceed the mileage you set out in your initial contract, you will have to pay excess mileage charges.

This means you can make any modifications you might like, and also keep any potential profit from selling it on later.

When you lease a car, you're tied in for the length of your contract. If you own the car you can sell it and switch to a new model any time you want.

You won't be charged extra for exceeding a mileage limit, but you will still have to think about it for insurance reasons.

New cars can decrease in value dramatically, meaning you're unlikely to make back the amount you paid for it if you ever consider selling.

Paying for a new car costs money, and even if you're spreading the price out over time, you can often end up spending more than you would with car leasing.

Unlike when you lease a car, you'll have to pay for road tax and breakdown cover separately. As the car gets older, this will likely get more expensive.

New cars don't stay new for long, and wear and tear can often lead to expensive repairs. With car leasing you can return your old car and drive off in a brand new model when your lease term ends.

While there are companies that will help, they'll also take a large chunk of the sale price, leaving you without a car and without as much money as you'd hoped.