Is an ex-leased vehicle a good alternative to a private one?
5 min read
We have analyzed the benefits and drawbacks of each alternative and come up with some key points for you to consider before deciding which option best suits your needs.
Let's start with the benefits of buying an ex-leased vehicle:
Benefits of purchasing an ex-leased vehicle
- Maintenance contracts
When making any big purchase, you should take into account the product’s quality guarantee. In the case of ex-leased cars, you will always receive a purchase guarantee along with all necessary documentation. This documentation will be clear and concise, as required by law, allowing you to be confident in your purchase.
«With privately owned vehicles, you don’t get any guarantee or certification. For this reason, an ex-leased car may be more reliable.»
- Transparent Service History
It’s now time to move on to the importance of knowing a vehicle’s history.
If you choose to buy an ex-leased car, you will be provided with all of its service history, meaning there is no need to worry about any missed certificates. In addition, ex-leased cars are often in excellent condition. There will not have been any cut corners in terms of service or high-quality parts, and leased cars must be serviced regularly. This means they have been thoroughly maintained in keeping with a recommended schedule for service.
There’s a chance to come across a responsible seller who drove their vehicle with care and kept excellent records. However, there are many unfair sellers who were either unable or simply chose not to service their car as required.
Another point to consider is that the servicing done on a private car may not have been done correctly. For example, an individual with low income may try to repair their vehicle as cheaply as possible. This may lead to repairs that need to be redone or replacement parts that will wear out faster than the originals. It all depends on the person, and when purchasing privately you have to take the word of the seller.
- No total loss repaired cars
When it comes to the sale of ex-leased cars, it is rare to see a damaged vehicle. Even the most irresponsible of drivers generally try to drive without incidents, especially if they are leasing. During the terms of a lease, the driver is responsible for any damage to the vehicle outside normal wear and tear. This means getting into an accident would lead to extensive additional costs on their behalf.
You will not doubt the condition of the car, thanks to a clear Appraisal report.
An added benefit of buying an ex-leased car is that each vehicle is subject to a careful inspection by an industry expert, who then compiles a report. The report will contain a detailed appraisal of the vehicle—including photos— ensuring that potential clients receive accurate information regarding a car’s true condition. It will also include any possible defects, giving you a clear representation of what you will be receiving for your money. In addition, if when you collect the vehicle, you find a defect not mentioned in the appraisal, you can immediately inform the company.
Good pricing and fast process
Buying an ex-leased car means you are setting yourself up for a guaranteed quick and easy purchase. You have the choice of either bidding in an auction or buying directly from the warehouse. Companies selling such services offer competitive prices, often in stark contrast to direct purchases. An ex-leased vehicle usually has higher mileage and fewer customizations, meaning prices can be significantly lower than those of used cars of the same age.
- Confidence that your car had good road conditions
Due to the quality of roads and strict speed limit compliance throughout the majority of Europe, ex-leased cars generally remain in prime condition despite higher mileage. Though the mileage of an ex-leased car may be slightly higher than that of a private car, most ex-leased vehicles tend to have been driven mainly on motorways or freeways. They are usually used for long-distance driving where consistent speeds are maintained, resulting in prolonged engine performance. It is also worth considering the fact that these roads are generally smooth, lacking the speed bumps and holes that could potentially damage a vehicle.
- Variety of cars to choose from
When choosing an ex-leased car, you will have a wider variety in comparison to the private car market. This means more options in terms of brands, models, colors, engine versions, and accessories. It also includes a larger range of vehicles, going from straightforward and compact on one end to premium luxury on the other.
«Ex-leased cars are also relatively young (up to 5 years old), and shopping for a used car in the same age bracket means much less to choose from.»
Alongside the benefits of buying an ex-leased car, there are also some drawbacks. These are the times when a private car might win out. Consider the points below and decide what is of most value to you when choosing a car.
Benefits of buying a private car
People who don't own the car sometimes treat it less carefully
People who drive an ex-leased car may treat it with less care as they are not investing much in it. This will depend on where they are leasing it from, the situation, the history, and most of all, the person. However, with an ex-leased vehicle, you will know the condition at the time of purchase. Also, as stated earlier,
«...most lease drivers are now trying to drive carefully and treat their vehicles well, knowing they are responsible for any damage incurred while it is in their care.»
Potentially Lower Mileage
Ex-leased cars sometimes have fairly high mileage. This is because they are often used by those who take frequent business trips and are often bought directly for this purpose. The car may not be old, but it can often be driven much more frequently and for longer distances. To break it down, this means you may need to provide your vehicle with additional services to reduce its level of wear and tear.
Ex-leased cars are not directly accessible.
To buy a car at auctions, the participation of a wholesale dealer is required. To do this, you can contact companies such as eCarsTrade, and we will help you simplify the process of obtaining your desired car.
The equipment of ex-leased car can be simpler.
One thing to consider is that ex-leased cars usually do not have all the bells and whistles a privately owned car might have. This is because these additional accessories and costs are unnecessary for someone who is using a car for mainly business purposes. However, it also means that ex-leased cars are usually cheaper than ones on the private car market.
So, how to decide to buy or not to buy?
To summarize, ex-leased cars can be a great alternative to privately buying a used car. Here are a few questions to ask yourself:
- How important is vehicle guarantee and certification to you?
- Does it bother you if a car was used by a company employee rather than a direct owner?
- Is it important to you to know the service history of the vehicle and be sure of its condition?
- Do you prefer a car whose service was carried out strictly according to regulation, or are you fine with not knowing a car’s repair history?
- Is it convenient for you to buy a car online, or do you prefer the process of buying a car in person?
Buying a car isn’t always easy. There are many options out there, and it can be hard to decide which is right for you. However, we hope this article has helped to clarify a few of the different alternatives available and helped you decide whether or not an ex-leased car suits your needs.