A Guide To New Or Used Car Leasing
Once you are convinced of the many benefits of leasing a car instead of buying one, and when you have weighed up the lease or PCP conundrum, you then have to study the different types of car lease deals.
Of course you might be looking for an electric vehicle, van leasing or considering whether a business lease or personal lease suits you best. But another type of leasing deal to consider is used car leasing, and there are many more benefits to this than you think.
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What is used car leasing?
You will have already read about the advantages of new car leasing, but don’t let this put you off the idea of used car leasing, and don’t be put off by the name either. Essentially, used car leasing is better described by using another term for it; pre-owned vehicle leasing, or you could also call them pre-leased vehicles. Because used car leasing is simply the re-leasing of vehicles that the leasing company has had returned to them.
Why do leasing companies re-lease used vehicles?
At the end of a new vehicle lease, the car is returned and the motorist often chooses another one. But what does the leasing company do with the returned vehicles then? They can dispose of them by selling them of course, but this carries a management cost and it is often cost-effective for the leasing company to simply re-lease them. These are often ex-fleet vehicles, but even if they have come from a personal lease, the vehicle will only be one, two or three years old in most cases, so is still ‘new’, and because it will have been under the constraints of the standard mileage restriction, will have a relatively low mileage also.
So used car leasing is cost-effective for the leasing company, and also for the motorist. 50% of a vehicle’s depreciation occurs in the first two years, and because a used car will have already undergone this most rapid depreciation when it becomes available for re-lease, its value will have reduced considerably. Therefore, the vehicle is much cheaper for the motorist and there is every chance it will still have a low mileage and be in very good condition.
What are the benefits of used car leasing?
A used car offered by a leasing company will often still be under warranty, and in some cases you can negotiate to have this extended
Leasing companies will put every pre-owned vehicle through a thorough health check to ensure only the best vehicles go out for re-lease, so you have peace of mind that a used car is in good condition
You will be able to lease a used car on pretty much the same terms as a new car, except it should be cheaper. The deal will require a deposit but it will have a flexible length and mileage which you can agree on, and the deal should still include breakdown cover, road tax and service & maintenance
Because pre-owned vehicles have been returned to the car leasing company, they are in stock, available and ready to be driven away immediately.
Used car lease deals with Pink Car Leasing
At Pink Car Leasing we use the same process for used car leasing as we do for new car leasing. This is quick and simple and you are in control. Naturally, with a new car lease there will be more vehicles to choose from and there are some benefits to knowing you are the very first driver of that vehicle, but equally, used car leasing appeals to a lot of people in different circumstances.
You can choose from our used car leasing deals here and speak to our sales experts who will be able to help you find the best possible deal and the pre-owned vehicle that suits you best – get in touch today.