Car leasing 'has its benefits'

Some of the benefits of car leasing have been highlighted by one journalist who compared it to buying.

Writing for CTV News, Preet Banerjee explained that many people are attracted by the lower monthly payments associated with leasing but that this is not the only reason to opt for such a deal.

He noted that because lease contracts typically last for three years, drivers usually have to pay out less for maintenance on the vehicle because it is not only a newer model but will also be covered under warranty.

Another advantage is what Mr Banerjee described as the "upgrade factor". Because of the length of car leases, drivers are able to trade in their vehicle for a new version every few years.

Meanwhile, a survey carried out earlier in the month by TheGreenCarWebsite.co.uk revealed that an increasing number of motorists would consider investing in an environmentally-friendly vehicle.

The website pointed out that the availability of the plug-in car grant from the government was one of the main factors encouraging drivers to go green.