When it comes to whether you should lease or finance a car, there’s lots of factors to consider so that you make the right choice for you. We’re here to help you to decide - read on to find out more about your options…

Financing (HP and PCP)

Car finance presents many benefits, offering flexibility and monthly payments that can be tailored to your budget. At Motor Range, we use a range of trusted finance providers to find you the best deal, whether you opt for HP or PCP. Financing a car is more suitable than leasing if you have poor credit, as there’s a wider range of lenders available.

Whereas leasing doesn’t allow you to own the car after your agreement, car finance is more flexible. If you’d like to keep your options open, you could go for a PCP deal. You have the option to keep the car at the end of your agreement by paying the final payment, or you can trade it in for something else. So it’s a popular choice for people who like to change their car regularly, and allows you to get a vehicle you perhaps couldn’t afford outright.

Or if you’re sure you’ll want to own the car at the end, then HP is the way to go. It spreads the cost of car ownership, and you’ll have no mileage restrictions nor a final final payment to pay.

Leasing

Leasing is an alternative way of driving away in a new motor. You essentially rent the car for a set period of time then at the end of the lease term, you return it to the dealership. It can be more difficult to lease a car if you have poor credit, and if you want to return the car earlier than agreed, you’ll need to pay an early termination fee which can be costly. You’ll also need to pay wear and tear costs too which can be inflated.

Find out more about finance, now!

At Motor Range, we make car finance easy. Our experienced team will help every step of the way with straightforward, stress-free car finance even if you have bad credit or an existing agreement. Apply online today!