Why You Should Consider Car Leasing For Your Next Family Car

There are some families who are lucky enough to live close to school and good shops so they can walk everywhere, but for most parents having a car is pretty essential. It would take me half an hour to walk to school and that’s without adjusting for the speed of a 3 year old. Then there is the idea of trying to carry a weekly shop home on a pushchair (ignoring that pushing a trolley and a pushchair round a supermarket is hard work). In short: some families manage without a car, but it’s not easy.

A toddler in the back seat of a car in a car show room

Cars don't last forever and at some point we all have to to consider getting a new car which can be challenging for many reasons. The decisions around make, model and even specification of a car can take a long time and along side it all you need to decide how to pay for it. 

Few families will be able to afford to pay for a new car outright so most will need to look at the various financing options. If you want a new car (which is always my personal preference because you don’t need to worry about any unknown history) then one option is leasing which means you can pay for the car monthly.

What is car leasing?

When you lease a car you pay an agreed amount each month for a set period of time and based on an agreed number of miles. At the end of the period eg 2 years, you return the car. It’s like a long term rental. 

The advantage of leasing when you have a family is that your needs can change a lot over time so what is the right car for you now might not be in 2 years time. Leasing makes it easier to change you car every few years and feels like less of a commitment than buying a car. It also means you can choose to get a greener model as car companies are working hard to develop alternative fuels and fuel efficiency. There are a large range of personal lease deals to meet the needs of most families.

Of course there are downsides to leasing. You don’t actually own the car so you need to take good care of it, just like you would if you were planning to sell your car. If you are a family that just uses your car to get from a to b and you don’t worry about scrapes or crisps ground into the carpet then leasing probably isn’t the best option for you, but for those who like to have a clean, shiny car they can be proud of it makes a good option. 

***Disclosure: I am not a financial advisor, I would recommend seeking independent advice before taking any action which might have ongoing impact on your finances. When leasing a car you do not own it. There will be requirements and conditions on your lease which you need to make sure you understand before you make any agreement. Additional information on leasing a car from the Money Advice Service.
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