Automotive Journal

Few people will disagree that nowadays everybody needs a car. Yes, it’s true that public transport is efficient and reasonably cheap in most of our towns and cities; but despite what the environmentalists tell us, we all know that there is no substitute for the comfort of the motorcar.

Don’t believe me? Try taking your two young children to the supermarket by bus and returning with 20 bags of groceries. Perhaps you enjoy waiting on your own for an overcrowded train in the cold and poring rain. Yes, spoilt we may be, but in today’s world everyone needs a car.

But there’s a catch – motoring is not cheap. The credit crunch is affecting us all, and petrol prices are rising exponentially. Any car is expensive to purchase and running even the smallest private vehicle is extremely costly.

So, in a nutshell, here’s the problem – everyone needs a car, but it’s becoming increasingly more difficult to afford even the simplest model. Could a short term car lease be the relatively simple solution to this apparently unsolvable dilemma?

Sure a short term car lease will cost you money, but perhaps not as much as you might think…

In layman’s terms, a short term car lease is akin to renting a vehicle as opposed to purchasing it. The leaser uses the vehicle for a pre-specified amount of time (usually for no more than 24 months).

The major advantage of a short term car lease is that you will not have to fork out thousands of pounds for a brand new car; rather you will pay for the use of the vehicle in monthly installments. The money you would have spent can therefore sit in your bank making interest and will not depreciate with the value of the vehicle.

Sure, you could save money buying a second hand car, but buying second hand is always a gamble (do you really want to risk hundreds of pounds worth of repairs – buy a five year old car and you can guarantee that something major will go wrong sooner or later). Why not buy something new that’s guaranteed to work well and which you won’t have to pay a huge amount of money for?

The great thing about any short term lease car is that it will be new, its performance should be excellent (including its fuel-efficiency) and it will look great and stylish.

The only real disadvantage to a short term car lease is that although you do not own the car, it will be up to you to maintain the vehicle’s condition (the car will have to be returned to the car lease company in a reasonably good state). However, as the car is new, it is highly unlikely that anything major will go wrong with it – and even if it does, the vehicle will still be covered by the manufactures’ guarantee.

So, in these financially difficult times, why not give it a short term car lease a go. After all, what have you got to lose?

Tony Hare and Semalease have been in the car leasing industry for many years and are experts in short term car leasing

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