Over the last 12-18 months, it is fair to say that the world of car buying and selling has seen significant changes, challenges and pitfalls. With dealerships opening and closing in line with government legislation, the rise of online car buying services, and delays in cars getting to our shores - thanks to a mixture of things we won't go into. It's been tough to get into the driving seat of a new car.
And, as we've been gradually able to rediscover our ability to travel between our homes, shops and showrooms, something rather unexpected has started to happen on our forecourts. We're running out of secondhand cars to buy.
Over the last few months, we've been snapping up secondhand cars like they're going out of fashion and now dealerships, car supermarkets, and the shiny new online services are struggling to find cars to sell you. The impact, unsurprisingly, is that due to a lack of supply to meet demand, prices are now heading in only one direction; upwards.
Prices are surging by 10% over what would be expected and experts from dealership networks across the UK and the Independent Motor Dealers Association expect this to be the case for at least the rest of 2021.
So for those of us looking for a secondhand hatchback, family moving motor or futuristic eco cruiser, we are in danger of ending up with our heads in our hands and not a new car key in sight.
However, whilst the lack of secondhand stock might be a potato in the exhaust pipe of buyers up and down the land, it does open the door to an alternative opportunity for all of us motorists willing to explore the ever competitive world of leasing.
After all, it was the oil baron, Paul Getty, who said "If it appreciates, buy it. If it depreciates, lease it." He was a pretty smart guy who made decent fiscal decisions, so maybe now is the time to take a plunge in the leasing lake?
With a lower monthly cost than you'll typically pay on a finance deal to fund a secondhand car, a brand-new car ready and waiting to be delivered to you in a matter of days and a group of trained individuals, a phone call or email away to help with you. Leasing could be the answer your 2021 car hunting journey could be looking for.
The reality is that, if you're looking for a nearly new used car, you might find yourself both frustrated and priced out of options pretty quickly. It makes leasing something brand new rather appealing.
To highlight just how thin the options in the secondhand market currently are for certain models, we've had a look through the classifieds and compared them to a few of the options currently presented thanks to PistonHeads affiliate, Vantage Leasing, (you can view their car leasing special offers page here). On this page, you'll find deals where you don't have to pay anything upfront AND they are one of the few brokers that do not charge an admin fee.
With the image of an oil baron fresh in your mind, let's take a sharp change of direction away from combustion engines and see what the electric vehicle market might have to offer by exploring the new Tesla Model 3 and Mercedes EQC. Both very different in terms of style, appeal and driving dynamics, but fundamentally better for the environment for school runs and trips to neighbouring counties.
We are experiencing one of the biggest shortages of secondhand stock in history, with nearly new cars such as the Model 3 & EQC being hit particularly hard. That means finding the secondhand EV in the spec and price range you want is going to be pretty tough. And let's be honest, with only a handful of options in the country, it's likely your perfect match isn't going to be out there. Who knows, you might get lucky, but via the options provided by Vantage Leasing, a world of electric driving via the Tesla Model 3 and Mercedes EQC become available.
The same can be said about nearly new models across the rest of the Mercedes range, with the GLC and popular A Class leasing options. If you can't find a nearly new car that fits your budget or the spec that you really want, Vantage Leasing could be the way into a gorgeous Mercedes that is brand new and cost less than you think.
And finally, what if you're priced out of the nearly new second hand Range Rover market? You guessed it, Vantage Leasing have got some amazing deals on the Vogue, Sport and new Evoque.
Whilst buying second hand might be the best option for you, don't make your mind up until checking out some of the deals available through Vantage Leasing.
This is sponsored content written by Stuart Porro on behalf of Vantage Leasing Solutions Ltd.
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