If you’re a new driver, and you’re excited to get your first car, it’s likely that you’ve started shopping around to see what cars are in your price range and discovering all the ways buying a new car can add up. That’s the reason why more and more new drivers are turning to leasing for their first car.
New drivers and younger generations are starting to see the benefits of leasing over buying a car, but what are the main reasons why they are turning to contract hire?
Needing the Latest Technology
Every year, carmakers announce their latest and greatest technological advancements. If it’s not a new infotainment system with bigger and better screens, it’s driver assistance technologies making your drive more comfortable and safe. Treating a car like a phone, or a laptop, and wanting to upgrade their car just as quickly.
That’s why leasing is an excellent choice. At Stable Vehicle Contracts, we offer 24 / 36 / 48 month contracts. We find that new drivers like to change their cars every two years to get the full benefit of a brand-new car with brand-new technology. If you want the fastest, most efficient, most advanced cars out there, then a 24 month contract is your best choice.
Users vs Owners
Younger generations have a different way of looking at the world of ownership. Monthly subscriptions are the norm for them: Netflix, Spotify, a mobile phone contract, renting the house they’re living in. They value the experience of using something over actually owning it.
That’s exactly what leasing is. You pay less to own a nicer car, and just like your mobile phone contract you get to the end of your contract, choose another product and start up a new contract with an even nicer car.
Taking on a lease deal for 24 months means that you’re less likely to have to get your car serviced. Most manufacturers only require you to get a service after two years (or after a certain amount of mileage). If you’re unlikely to add a lot of miles to the car, and you’re looking for a short-term contract, then you won’t have as much hassle as owning a car.
You also won’t need to go through the trouble of selling a car when you want to upgrade in the future. At the end of your contract, you just choose your next lease deal, hand your old car back and start up your new contract with the new car. It’s as easy as that.
At Stable Vehicle Contracts we reduce the hassle even more by including road tax for the entirety of your contract and by offering free mainland UK delivery and free delivery to Belfast Port.
Value for Money
If one thing is clear, new drivers and younger generations are looking for excellent value for their money. Leasing a car will cost less per month than it will if you’re looking to purchase a car on finance. That’s because you’re effectively renting the car from the finance company rather than using their money to help you buy the car outright. There won’t be a large lump sum to pay at the end of the contract, and you’re not paying to own a car that will depreciate in value after a few years.
As you’re paying less per month, you’ll also find that it’s easier to get approved for the finance as you’re only requesting financing for the length of your contract and not for the entire car.