Why is Vehicle Leasing so Popular?

By Lauren Bagnall
29-04-2021
Why is Vehicle Leasing so Popular?

In recent years, vehicle leasing has increased in popularity as a more practical way to drive a brand-new motor. Making monthly payments on usually expensive products makes them much more affordable, although in terms of vehicle leasing, these are called monthly rentals. Lease contracts can vary in monthly and initial rental price based on a range of different factors, but overall, it's much cheaper than buying upfront.

Here at MW vehicle contracts (MWVC), we have a range of car, van and pickup truck leasing deals perfect for personal and business budgets alike. We can deliver your brand-new vehicle straight to your door across mainland UK, and we even have a vast collection of electric, hybrid and commercial vehicles to choose from. More than 1.6 million people in the UK currently lease their vehicle, and there are plenty of reasons why...

It's a Financially Viable Option for Many

Paying for a brand-new vehicle upfront can be an expensive endeavour. Sure, the vehicle will be yours to own, but it will put a huge dent in your finances; money you may need for a rainy day. When you lease a vehicle, you make monthly rentals at a fixed price for a fraction of the upfront value on a set contract. At the end of the contract, you don't have to buy it; you can simply return the car, van or pickup truck, and choose another one. It's as simple as that.

You can monitor when money is going out of your account and how much you’re spending when you opt to lease a van, car or pickup truck. This allows you to balance your books and keep a closer eye on your finances; a great incentive if you're vehicle leasing for a business. Here at MWVC, we have a wide range of van, pickup and car leasing offers suitable for all budgets. The all-new Peugeot Partner is currently on special offer at £129.99 ex. VAT per month, and comes with an impressive payload of 1009kg, making it a perfect choice for transporting small cargo.

It's the Cheapest Way to Drive a Brand-New Vehicle

In the long term, buying a car, van or pickup upfront if you have the finances might seem like the better option; the vehicle is all yours, and you don't have to make monthly payments to anyone else. But this doesn't always mean it's the better option. If you could drive a brand-new Tesla Model 3, for instance, for £465.29 per month inc. VAT on a four-year contract when the standard price is currently around £40,000, it's a no-brainer, isn't it? Don't forget, all vehicles depreciate over time, and with leasing you don't have to worry, as you can return the vehicle at the end of your contract.

Here at MWVC, we provide vehicle leasing in Leicester and across the country at competitive prices, with all details in your leasing contract fully explained to you before you sign on. We have a range of popular vehicles currently included in our pickup leasing deals section, such as the Ford Ranger lease, which is currently £236.08 ex. VAT. Its double cab allows for more interior storage and seating space, and it has exceptional towing capacity.

Businesses Get Tax Benefits

If you're a VAT registered business, then we've got great news for you if you're looking to lease your next commercial van or pickup. You'll be able to claim back up to 100% of the VAT on the rental payment of all commercial vehicles, depending on whether you use the vehicle for personal endeavours. If you also take out a maintenance agreement with us, you will again be able to claim back 100% of the VAT. Businesses can also offset the rental against taxable profits.

Of course, as a leasing company, we believe that vehicle leasing is the best choice for individuals and businesses alike, especially if you're wanting to drive a brand-new motor on a budget. But the facts speak for themselves. If you would like to discuss this further, do not hesitate to get in touch with a member of our friendly team today by calling 0116 259 9548.