With the cost of living soaring, it may seem strange to think that leasing a car makes good financial sense. But, there really are sound economic reasons as to why now is a good time to lease. Money is tight and budgets are stretched, yet most people still need to travel away from their homes for various reasons - work, school, family, sports or holidays, therefore a car is a must. So how can having a car and staying on budget work? Let me tell you, car leasing!
What is the Cost of Living crisis?
The cost of living crisis follows on from Brexit and the Covid-19 pandemic, the current political situation and the prolonged raised fuel prices have worsened this for UK residents.
Household budgets are not going as far as they once did, and some families are having to decide what is the most important to them. Buying a brand new car with a personal loan might not be an option now, with inflated interest rates and market uncertainty, but there is another way: leasing.
How does car leasing work?
Amber Car Leasing makes leasing easy. Leasing a car means that you don’t own the vehicle at the end of the leasing agreement, but hand it back to the dealership. So, the two things to decide is how long you want the car for and how many miles you will do in that car each year.
Normally, the duration of the lease is measured in months and offered up to 48 months, or 4 years. Mileage is measured annually and offered up to 30,000 miles. A common leasing term is 48 months and 10,000 miles.
Now you have an idea on the term and mileage of the lease we get to the fun part of picking a vehicle. At Amber Car Leasing you can do all of this via our web site where you are able to search thousands of vehicles and adjust the terms and mileage of these to suit your budget Don’t forget to check out our special offers, which also include stock vehicles ready for immediate delivery
Another way to help keep running costs down is to add the maintenance package so that you don’t have to worry about routine servicing bills throughout your lease, or MOTs or new car tyres - there will be no hidden costs. If you are leasing through a business, then you can save even more money as you can claim back 50% of the VAT on the monthly lease payments.
Can I really have a brand new car and still have low monthly payments?
Yes, in fact leasing helps you to stay on budget as the payments, once agreed, stay the same for the duration of the lease. Amber also offers no deposit leasing, so you won’t even have to worry about finding the money to cover a large initial payment as well as that month's payment. Having a reliable vehicle might be a necessity for business, leasing takes all that worry away and you no longer have the dread of wondering if the car will start on a cold frosty morning, or costly servicing bills as they will all be covered in the maintenance package that is available should you wish to take it, on every vehicle from Amber - and even better the cost can be factored into the monthly price and doesn’t change.
Choosing from the in-stock options also means that you get the vehicle almost immediately and there is no long delay while you wait for stock levels to replenish, meaning your business doesn't suffer and you can continue to earn money.
Another perk of leasing means that you can get a car that you may ordinarily think is out of your price range, and electric cars are available to lease and are very competitively priced at Amber.
With the cost of filling up your car rising more and more, going electric makes sense as it will literally save you money, and even better if it's a business lease then you can save 2% in tax relief and to add even more icing to the cake then you may qualify for a government grant. The UK Plug in Car Grant offers 35% of the cost of the qualifying car (capped at £1500) and the scheme has been extended into 2023, more information can be found on the Government webpage. So yes, you really can have a brand new, environmentally friendly car on a budget.
Living the dream and staying on budget
Now couldn’t be a better time to lease a brand new car and keep your monthly payments low. Amber has some fantastic deals on in-stock and available now cars, both electric and traditional petrol/diesel.