Thursday, February 21, 2013

High Mileage Car Leasing - A Good Option?

Yes, but do you have reservations because of the high mileage you drive? Well that's fair enough, high mileage leases do cost more than low mileage leases. This is simply because cars that have down more miles depreciate more quickly - but this is so whether you lease or buy. Working out the true cost of a car is important. Used cars have depreciated more than ever in the past year. With leasing you don't have any of the risk of what the car will be worth with say 90,000 miles on the clock in 3 years.

Issues with buying in today's market

- Finance is more costly and difficult to arrange to purchase a car
- High mileage vehicles can be very difficult to sell. Would you buy a car out of warranty with a high mileage?

Benefits of leasing

- You pay a fixed cost each month which allows you to budget accurately
- You get to drive a brand new car with very little initial outlay
- You can opt for a maintenance package - Great for high mileage drivers as maintenance bills are likely to be higher. You also eliminate any costly and unexpected servicing bills
- You have the reassurance that the car is under warranty (If leasing for 3 years or less)

Vehicle leasing expert Jane Ramsey says 'Leasing offers good value for money when compared to the true cost of running a car - particularly if you are used to the hassle free experience of a company car scheme.'

We recommend contacting a few leasing companies - as those that are the cheapest at 10,000 miles may not be the cheapest at 30,000.

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