New Car For Less Than £100 Per Month
I’ve always thought that car leasing was for businesses and there were no real benefits for regular people like me. After all, you never actually own the car so what are you paying for?
Now I’m a personal car leasing convert. I have a brand new Fiat Grand Punto and I’m only paying a little more than £100 a month (including VAT). What’s more, the leasing company delivered it to my house, gave me AA cover for one year completely free and they are paying for all the maintenance costs including tyres.
Now I was worried about the cost of damage repairs as I am absolutely dreadful at parking and I’m always chipping the hub caps or bumping the fenders. This has been covered with a suitable insurance policy. All told I am now paying less than half as much as I was paying each month for my old, second hand Punto, financed with a bank loan.
And here is the clincher for me. After three years I simply return the car to the leasing company and look at getting a replacement. I had such a headache selling my old Punto this alone is worth a fortune. To get rid of my old car, which was five years old, I had to have it serviced and get a few things fixed. This alone added up to over £700. Then there were some nasty dinks in the bodywork and a small crack in the windshield which cost me another £350 to get sorted. Then the car was sold for close to the book price but after the costs of getting it into shape to sell it I wasn’t left with much.
So for that reason I decided to take a close look at personal car leasing and I’m glad I did. No more problems like that for me. I’ve given myself a generous mileage allowance on my contract which I don’t think will restrict me too much and I’m just loving driving a brand new car.
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