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WHICH LIFESTYLES ARE BETTER SUITED TO VEHICLE LEASING?

Written by Menswear Style in Cars on the 17th July 2023

Not everyone feels the call of car ownership. The costs can be prohibitive, both in terms of purchasing a new vehicle and maintaining an older one. For some people, the allure of owning a vehicle outright doesn't outweigh the burden of up-front costs, maintenance, and depreciation. This is where vehicle leasing steps in. For a variety of lifestyles, leasing a vehicle offers a smart, flexible, and cost-effective alternative to buying outright.

Young Professionals and City Dwellers

For young professionals living in bustling cities, vehicle ownership can be more of a burden than a convenience. Parking can be expensive and difficult to find, whilst public transport often provides a more practical solution for commuting. However, there may be times when having access to a vehicle is beneficial or necessary. If you are a young professional who only occasionally needs a vehicle for trips outside the city or for special occasions, it could be a smart move to lease a VW or a similar compact car. Such vehicles are economical, easy to park, and perfectly suited for city driving. Leasing offers the flexibility to have a vehicle when needed, without the heavy costs associated with ownership.

Families on the Go

Families require reliable transportation, often with more space to accommodate children, pets, or extended family members. The requirements for a family car may change as the children grow or if another baby joins the family. Buying a vehicle might mean sticking with one that doesn't quite fit your needs for longer than you'd like, just to get your money's worth. Leasing provides an excellent solution for families. Every few years, as the lease term ends, you have the opportunity to upgrade to a vehicle that fits your current needs, whether that's more seating, increased boot space, or the latest safety features. Furthermore, leasing often includes maintenance and roadside assistance, providing added peace of mind for busy families.

Entrepreneurs and Small Business Owners

Business needs can change rapidly. One year, a small, fuel-efficient car might be ideal for your purposes; the next, you might require a larger vehicle for transportation or delivery needs. The changing nature of business needs makes leasing a more attractive option for many entrepreneurs and small business owners. Leasing provides the flexibility to adapt to changing business needs, often at a lower cost than purchasing a vehicle. Plus, leased vehicles used for business purposes may offer tax benefits, depending on the specific tax laws in your location.

Frequent Travellers

Those who travel often, whether for work or pleasure, may find little value in owning a vehicle that spends most of its time parked at an airport. For frequent travellers, leasing can be an ideal solution. Leasing contracts usually include a mileage limit, but they can be negotiated based on your anticipated driving needs. If you spend a significant amount of time out of town, your mileage needs may be lower, allowing for a more affordable lease contract.

The Environmentally Conscious

For those who place high importance on minimising their environmental footprint, leasing is an attractive option. Electric vehicles (EVs) and hybrids are becoming more and more affordable, but their technology is advancing rapidly. Leasing allows environmentally conscious drivers to keep up with the latest advancements in eco-friendly vehicles without the commitment of buying a new car every few years.

In conclusion, leasing is a smart and flexible option that can accommodate a wide range of lifestyles. Whether you're a city-dwelling professional, a busy parent, an adaptive business owner, a frequent traveller, or someone committed to an eco-friendly lifestyle, the advantages of leasing a vehicle should not be overlooked. Before deciding to purchase a vehicle outright, consider the flexibility and affordability that leasing can offer.