The argument of whether to lease or buy a car has been there for a long time (https://www.letstalkfinance.co.uk/). So is it better to lease or buy a car? This decision is a tough one to make; it highly depends on the financial status of someone. If you are in a position to pay for the full price if a vehicle then buying cab be a good option for you than leasing.
Leasing has got a lot of benefits, especially to those people who are not in a position to buy a car due to financial constraints. Leasing gives you the freedom to own a vehicle that you would otherwise not afford. Perhaps this is the main reason why most people prefer Lessing a car than buying (https://www.letstalkfinance.co.uk/business-car-leasing). If you are a car lover, you will always have that urge of driving the newest model in the market. Buying such luxurious cars can be a challenge to most people and force them to lease the car.
Another advantage of leasing a car you will only be taking a car for a certain number of months; this means you will not be paying the full package for depreciation of the vehicle (https://www.letstalkfinance.co.uk/uk-vehicle-leasing). You will only be absorbing the depression amount for the time you are only going to have the car. This means leasing a car will never get you in the wrong position.
Leasing a car as a business owner will offset you the tax you would otherwise have to pay if you had bought the car. You will be only required to pay the tax of using the vehicle and not the tax for the total price of the car.
Although leasing a car has got its drawbacks like limited mileage and higher cost if your insurance, it is still a good choice, especially for business people and those with financial challenges.