Should I buy or lease a car?
Which option should I go for?
Below are the main benefits of a long-term car rental solution. Click here to find out some of the pros to leasing a car. You might also be interested in my used car leasing page which is a great read for those looking to save some money their next car.
Europcar UK, a subsidiary of Europcar Group, the European leader in vehicle rental services and a major player in mobility markets, is challenging the concept of ‘car ownership’ with new enhancements to its fixed rate long-term rental solution. Europcar Long Term Hire may take the unknown out of the question of should I lease or buy a car as they’re offering the benefit of no depreciation or maintenance. The car comes with a free Deliver & Collect service, and additional drivers can be added at no extra cost. And starting from just £317 per month* with only a £70 deposit required, it can be more cost-effective than other forms of car finance.
“With the cost of car ownership set to increase significantly, thanks to the new Vehicle Excise Duty Rules and hikes in insurance costs, many motorists must be wondering how they can stay on the road”, explained Gary Smith, Managing Director, Europcar UK Group. “We’re tackling that challenge with a longer term car hire solution that doesn’t require any long-term commitment.”
Analysis has shown that Europcar Long Term Hire provides motorists with a genuine alternative to other forms of car ownership, whilst still being competitively priced. The basic Europcar Long Term Hire starts from £317 per month for a mini category vehicle, with a monthly mileage allowance of 2,520 miles and an excess of £1,000. Europcar Long Term Hire Premium provides complete peace of mind, with zero excess on insurance for a starting price of £422 per month and a deposit of £70.
Should I buy or lease a car? For a vehicle such as a Peugeot 208, over a year, a high mileage driver could expect to pay £8,470 with Europcar Long Term Hire. To lease this vehicle for the same period would cost £1,043 more.
Europcar believes its flexible new solution provides motorists with an ideal alternative to car ownership, maintenance and servicing costs. And unlike car ownership or leasing where the driver is stuck with the same car for years, they can change the vehicle every month. Whether drivers would like to take advantage of the warmer weather in the summer and hire a convertible, or a compact vehicle for the winter months, Europcar Long Term Hire provides flexibility year round.
“With research commissioned by Europcar identifying that half of UK car owners spend 10% of their monthly income on running their car but use it for less than an hour a day, Europcar Long Term Hire could provide a helpful boost to disposable income”, added Gary Smith. “Especially as news of increases in insurance premiums, as well as the new Vehicle Excise Duty, will put an even greater financial burden on motoring.
Customers using Europcar Long Term Hire can book and rent their car immediately, with no forms or credit checks – just a simple credit card payment. It’s ideal for motorists who don’t want to be pinned down to the long-term commitment of car ownership. Picking from a fleet that, on average, is less than 6 months old and with no yearly contract, customers can either change their vehicle every month or keep the same car for 3 months at a time and have a free monthly valet.”
The Used Car Guy