2020 has been the most difficult and challenging year in living memory with COVID-19 lockdowns continuing to restrict life as we know it across the UK. The pandemic has had a severe impact on the way companies operate with most having to quickly adapt just to keep their doors open.
The automotive industry has been hit harder than most with lengthy delays experienced on new car orders through manufacture and logistics interruptions, leaving frustrated customers waiting weeks and sometimes months for their new car.
With COVID still hanging over the UK and showing no real signs of disappearing, the sales of new cars has continued to tumble with buyers becoming more cautious as we enter a period of recession. But, what happens if you need a new car during the crisis?
There are many reasons why you could be looking for a new car at the moment. You may have recently grown as a family and need a bigger car, your current finance deal might be in its last months, or you may have just passed your driving test and you need a car to get from A-to-B.
Whilst outright purchases of new cars have decreased there has been an upturn in demand for flexible car leasing solutions which are perfect for the challenges thrown at us during 2020.
Leasing is still the cheapest way to get a new car
It is often not known that leasing is the cheapest way of getting on the road with small upfront deposits and lower monthly costs than PCP, Bank Loans, and HP car finance packages. This makes it ideal for first-time drivers and people who do not have access to vast amounts of savings.
Buying a car outright comes with an element of risk in the current economic climate, tying up large chunks of your savings in a time of uncertainty, and then you also need to think about depreciation. Your new car starts losing money as soon as it leaves the dealership which means when you come to sell that car further down the line, you may be left out of pocket.
Leasing allows you to keep your savings securely hidden away for a rainy day, giving you more flexibility should your circumstances change in the future.
The current economic outlook has brought an increase in customer demand for flexibility which cannot always be accommodated via PCP, HP, Loans, or outright purchases of vehicles. Compare Your Car Lease packages start at just 1 year, meaning that if something changes in your life, you are not stuck in a lengthy contract having to fork out masses of money on early termination charges.
Short lease durations are also attractive to those who like to update their car regularly and drive the latest models, you can get a new car every year!
Great deals to be found
With everything that is going on in the world, you would be forgiven for thinking that deals on cars had been shelved until the pandemic is over. In fact, it is the opposite when it comes to leasing!
Due to seriously low-interest rates and in particular the Bank of England Base Rate there are some amazing deals to be had with monthly payments even more affordable than before. For the very best deals, speak to one of our experts, today.
Stock ready and waiting
Whilst the new car market is suffering from lengthy delays in manufacture and shipping, leasing companies such as Compare Your Car Lease already have access to stock which is available immediately.
So rest assured that if you need some wheels in a hurry, Compare Your Car Lease can deliver your new vehicle on time.
Contactless ordering and delivery
With COVID-19 cases increasing and local lockdowns being announced on a daily basis, new and used car dealers have had to put more procedures in place to keep their customers safe including having to book an appointment to visit the dealership. This is a far from ideal solution for those who are most at risk from the virus, and those who cannot afford to take time away from work if they had to isolate.
Compare Your Car Lease offers a contactless service right through to the delivery of your new car ensuring a smooth and efficient process which safeguards our clients and colleagues. With everything we have talked about in this article taken into consideration, it is easy to see why more people than ever before are turning to vehicle leasing. Not only is it the cheapest way to get a new car in 2020, but it is also the most flexible and the safest.
If you are currently looking for a new car, or are approaching the end of your current vehicle finance deal, get in touch with the experts at Compare Your Car Lease who will help you to find your perfect next car at a price which puts a smile on your face amongst the challenges that 2020 has thrown at us so far.
Email : hello@Compareyourcarlease.co.uk
Telephone : 0161 706 0830
Company Address :
Compare Your Car Lease
23a Princess Street
Compare Your Car Lease are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 835353
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Registered Office : The Colony, Altrincham Road, Wilmslow, Cheshire, SK9 4LY
Disclaimer: All vehicle images and descriptions are for illustration and reference purposes only, all vehicle leases are subject to credit approval and subject to change at any time. E&OE.
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