Sterlin Dev | incarmusic

Why More and More People Are Choosing To Rent Their Cars

Jan 23rd 2019 at 4:39 AM

Have you ever wondered why Susan down the road or John next door can seemingly afford a new car every few years? If you live in an average area, the chances are that they cannot afford a new car that frequently, but are instead renting their cars.

When you find out why people choose to rent, rather than buy, their cars you will understand the value of renting.

In this article, we are going to explore why people are choosing to rent their cars. By the time you reach the end of this article, we are sure that you will decide to rent, rather than buy, in future.

It is better value

As with most things in life, people do it because it makes financial sense. When you buy a new car, it loses at least 10% of its value simply in being driven off the forecourt. That is a huge initial loss and is something most people want to avoid. When you rent a car, you effectively only ever pay market value and you do not lose money simply because you are using the car.

If people choose to take out a loan to buy a new car, they are probably paying an average of £200 a month for that car. For the same price, they can often rent an equally decent car. However, rental comes with many financial perks. For example, some rentals will pay for your insurance to, and most rentals pay any maintenance costs themselves.

It is often easier contractually too. When you take out a loan, you're taking out a long-term promise. However, with car rentals, you can often rent the car from month to month and get out of the contract every 30 days if you need to.

The price you pay for car rental as often and all in price. You could end up paying slightly more than you pay for a new car, but with the added perks, the cost tends to work out. When choosing a car rental firm, make sure you shop around for a good deal.

Sometimes, you might find that your local car rental Leyton offers you much better value and one of the National rental services does.  This tends to be because the national rental places are more for people looking for short-term leases, whereas the local rental places tend to be for people looking for longer-term lease.

A nicer car

If you are buying a new car, it isn't necessarily brand new, and so it might not be as well-equipped inside or as nice as it could be. For example, the car stereo might be out of date. Car stereos UK tend to evolve quite quickly and unless buying a brand new car, or renting a new car, your mod cons might be out of date.

When renting, the car it is much more likely to be newer than when buying. That's because it is cheaper to rent a new car than to buy a new car. Therefore, the mod cons are likely to be better in rentals.

We hope that you have found this article informative and let you know understand why more people than ever are choosing to rent their cars. Car rental often makes the most sense.

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