Luxury Car Leasing: Pros, Cons, and Why It’s the Ultimate Way to Drive Your Dream Car»

A prestige car lease is an excellent option if you want to enjoy the pleasure of driving an exotic car for your travel needs without the hassles and costs associated with owning one. Additionally, it gives you the opportunity to drive a new car every 1 or 2 years. Whatever your needs may be, you can lease a luxury car and fulfill your aspirations without burning a hole in your pocket.

But before considering leasing exotic cars, it’s important to weigh the pros and cons and make an informed decision. Let’s begin.

The Advantages of Luxury Car Leasing

Here is a brief overview of the benefits of leasing a luxury car.

1. It’s much cheaper

One of the main reasons many luxury car enthusiasts prefer leasing is that it’s much more affordable. Since you don’t own the car at the end of the lease term, you don’t have to pay the typical ownership costs. The down payment for leasing is significantly lower than buying a new car. Monthly payments are also cheaper than the EMI payments you make for a car loan.

And that’s not all. When you own a car, there are additional costs. These include registration fees, taxes, repairs, and maintenance. Taxes and maintenance are recurring costs that need to be paid throughout the car’s lifespan. Leasing luxury cars can save you money because it doesn’t require you to pay for registration, taxes, servicing, or maintenance of the vehicle. Therefore, it’s much more economical.

2. Upgrade your car frequently

Another reason leasing is more attractive is the ability to upgrade your luxury car every one or two years. Typically, leases are available for 1 or 2 years, after which you can swap it for a newer model. When you plan to lease a sports car, executive sedan, supercar, or SUV, you can consistently drive a new luxury vehicle every few years.

Therefore, leasing is a better option for car enthusiasts who don’t want to drive the same car for too long. Drive a new exotic car each year and travel in absolute style and glamour.

3. Whatever your needs, car leasing has you covered

There may be several reasons for considering car leasing in London. You may want to drive a premium car for your daily commute and leave a lasting impression wherever you go. Or perhaps you love to travel year-round and consider leasing great cars for safe, comfortable, and luxurious travel.

Another reason to lease a car is if you’re an entrepreneur and need a prestige car to attend business meetings, corporate events, or business trips. Driving a luxury car like a Mercedes, Bentley, or Audi for business purposes can help create a strong brand impression with clients and stakeholders.

Leasing is also a preferable option if you drive less than 12,000 miles per year. In that case, owning a luxury car may seem extravagant because it will mostly remain parked at your home. Consider leasing if you plan to drive the car occasionally, no more than 12,000 miles per year.

4. Less hassle, more fun

Leasing a prestige car frees you from numerous concerns such as repairs and maintenance, depreciation, and vehicle delivery. There are no lifetime commitments or large investments tied to leasing. As soon as your lease term expires, you can upgrade to a new model—or none at all. Additionally, you get to drive the vehicle when it’s at its best, not when it’s old and depreciating.

Disadvantages of Luxury Car Leasing

There are also some limitations when leasing a luxury car. Let’s take a look:

1. Leasing may be more expensive in the long run

Leasing a prestige car is a good option, but only in the short term. If you plan to keep a premium vehicle for the long term, say more than 4 years, it may be better to buy a new one. This is because, ultimately, you’ll end up paying more for the lease than you would have spent on owning the car.

2. You don’t own the car

With leasing, ownership of the car doesn’t belong to you. This also means you will have to take great care of the vehicle during the lease period. You also won’t be able to customize the car, upgrade it, or make changes unless the leasing provider offers that option. And at the end of the lease term, you’ll have to return the car in as close to its original condition as possible.

3. Don’t overlook insurance costs

Most luxury car leasing providers will require you to have comprehensive car insurance for the duration of the lease. Therefore, you should also consider this cost while leasing.

Ultimately, whether or not you lease a luxury car will depend on your specific needs and the pros and cons mentioned above.