Once again, Singapore has topped the world as the most expensive city to live in for the fourth straight year.
Price of owning a car especially, is extremely high. The true cost of a car does not only stop at sky high Certificate of Entitlement (COE) prices. Adding up all the necessary costs, such as road tax, insurance, service and insurance cost.
You may find yourself paying a hefty amount of downpayment that you struggle to come up with. If you do not want to stretch your budget, you might end up getting a cheaper alternative which you are not actually satisfied with. Worst of all, you find yourself struggling to pay even for the most affordable car in Singapore.
So when are you ever going to get your dream car? Or when can you ever get a car in Singapore? Well, you do not have to stretch your budget for your dream car. You also do not have to save up a tremendous amount for your downpayment. You can go for the option of leasing a car.
Here are 5 reasons why you should lease rather than buy:
1. Zero downpayment required and more flexibility
Leasing a car saves you from the hefty initial downpayment you need to place for buying a car. When you lease for a car, you are only paying for the lease period, whereas, if you purchase a car, you are required to pay for the entire car regardless of the number of years you are using it. You can choose a lease term of 1, 3, 5 ,7 years! Talk about flexibility. Now, you can set aside your savings for something else.
2. Control your budget
Leasing a car is budget friendly. Imagine that all you need to pay is a fixed amount each month for your car. No extra expenses would come from repairs or maintenance. No worries about insurance and road tax. No unpleasant surprises when it comes to paying for your car expenses. Because all these, are already taken care of, in the monthly leasing fee. You are able to limit yourself to a certain amount you want to spend on car. Leasing is an ideal way to control your spending. And speaking of repairs, at Wearnes Leasing, they provide customers with 24 hours, roadside assistance at all times of breakdown, and a replacement car would be offered during that period.
3. Protection against Ownership Risks
Cars are depreciating assets. A new car depreciates by 20 percent within the first year alone.Constant fluctuations in COE supplies make the price of car unpredictable and volatile. Unstable prices would mean chances of future loss to car owners. A lease agreement will protect you against any possible future loss. Since you do not own the car, you no longer have to fear for your yearly depreciations and unexpected loss. There are also leases with buy over option at Wearnes. This gives you an option to buy the car when COE is low without any commitment to purchase.
4. Never worry about selling or trading in
For many of us, a major headache sets in when you want to change your car. We have to worry about reselling our car or trading in. Not only is the process troublesome, it takes up a lot of time and effort. With leasing, not anymore. There is never a need to go through the hassle of reselling your car. Also, not to worry about getting a good price for your trade in. As long as you have followed the rules about mileage and maintenance, you are done with it. Simply return the car and walk away.
5. Never get bored
New cars with the latest technologies, newest designs, better safety and fuel efficient features are coming out every year. Isn’t it wonderful to be always driving one of the latest model in the market. But, if you have bought a car, it is usually going to be a ten year wait, before getting your hands on your next car. If not, you have to worry about settling the outstanding loans of your car and reselling at a good rate, which is usually hardly the case. In contrast to buying a car, leasing allows you to have the pleasure of owning a new car every few years. You have the option of changing to another car once your leasing contract expires. You’ll never get bored with your new ride.
At the end of the day, buying a new car is not your only option. Leasing is an alternative that sets you free from your worries. Choose to lease a car. Enjoy your simple, affordable, hassle-free driving experience.
Brought To You By Wearnes Automobile Leasing
