Yes, you can lease a used Volkswagen and it’s often a great way to make big savings.
VWs are renowned for their reliability, sleek styling and practicality, and by leasing a pre-owned model, you can still drive a luxury car without the chunky price tag.
How Does Leasing Work?
Leasing a car is simple. You find the car you want, pay a fixed price each month to drive it, and at the end, depending on what type of agreement you have, you either hand the car back, swap it for another one or keep it.
There are three conventional ways to lease a car:
Personal Contract Purchase
Pay your monthly payments and at the end choose to part exchange the car, keep it or simply hand it back.
Personal Contract Hire
Make your monthly payments then hand the car back at the end. You don’t have the option to keep the car.
Pay monthly, then when the plan comes to an end, settle your balloon final payment and keep the car. If you get to the end of your agreement, you have to buy the car with a Lease Purchase.
Are Volkswagen Good Used Cars?
In a word, yes. Volkswagens are one of the most reliable vehicles on the road. It’s not uncommon to see an old VW sitting comfortably on the motorway or driving around town.
That’s because they’re extremely well made. Volkswagen; the owner of Audi, Seat, Skoda and Bentley to name but a few, ensure each vehicle is made with meticulous precision, meaning long-term trouble-free motoring.
The styling also makes them excellent used cars. Similar to other German manufacturers, such as BMW and Mercedes-Benz, Volkswagen design vehicles that stay relevant. They’re sleek, unoffensive and usually some of the best looking cars on the market.
Because of that, their vehicles are timeless, meaning even a used one won’t look out of shape in a world with increasingly new models.
VWs also hold their price well. With that, if you choose to lease a used one, your monthly payments might be lower than you expect.
Advantages Of Leasing A Used Volkswagen
When it comes to leasing a used VW, a lot of the advantages owe themselves to the actual vehicle itself.
Because when you lease, you only ever cover the car’s depreciation costs – and considering Volkswagens tend not to depreciate as much as some vehicles from other manufacturers – your monthly payments stay low, especially if the vehicle is used.
That’s because the majority of its depreciation, which tends to happen when the car is new, has already happened.
So, you can enjoy the best of both worlds. A big saving from new and a high residual value, translating to much lower monthly payments compared to a brand-new model.
On top of that, Volkswagen’s engines are incredibly economical, meaning you’ll also see a reduction in fuel costs compared to other luxury brands.
Flexibility & Reliability
With a Personal Contract Purchase, you can be flexible when it comes to the end of your agreement.
If you want to keep the vehicle, you can, and with a VW, it’s likely you’ll get another fair few years out of it.
But another bonus of Volkswagen’s long-standing reliability, even if you don’t keep it, is the unlikelihood of needing many, if any, repairs during your ownership.
Of course, it’s impossible to predict if a vehicle will suffer from an unforeseen issue, but by choosing VW – even a used one – you’re minimising that risk substantially.
As VWs often come with technology which comfortably surpasses what you’d expect a car from its price range, you get to enjoy what others have at their disposal in new models in a used Volkswagen.
Navigation, Bluetooth, smartphone integration and streaming, advanced safety features; you can find it all in a used VW.
With that, you can still enjoy modern technology and features in a used model.
Practicality & Fun
People want different things from their cars. For some, it’s a box to get from A to B which holds little more sentiment than a kettle.
For others, it’s all about family and what it can offer in terms of safety, security and comfort. Or it could be about eye-watering speed, rapid acceleration and being able to throw it into a corner with the confidence it’ll stick.
And the beauty of a VW is it can be all three. Take the Golf, for example. It can be a five-seater family vehicle which has the latest in safety technology, is economical, reliable and smooth to drive.
Or, it can also be mind-bending hot hatchback which will blast through the Nurburgring in under eight minutes.
Volkswagens are both practical and fun. And you’ll struggle to find a better mix than that.
Disadvantages Of Leasing A Used Volkswagen
Although leasing a Volkswagen has many upsides, there are some disadvantages to consider, too.
Never Own The Vehicle
When you lease a car, unless you pay the final balloon payment, you never own it outright.
And while Volkswagens having a high residual value is great in terms of low monthly payments, you can’t take full advantage of it unless you own it.
Another consideration is if you want to own it, with the car’s worth remaining high, it’ll usually cost you a substantial amount to do so.
If you own a VW, the likelihood is you’re going to enjoy driving it. But with a lease, you’re restricted to how many miles you can do in a year.
If you go over, you’ll either have to pay a pence-per-mile charge if you choose to hand the car back or have to cover any negative equity if you choose to part exchange.
More Expensive Than Hire Purchase In The Long Run
If you want to own the vehicle outright, you can choose to enter a hire purchase. That’s where you pay a monthly payment – like leasing – but the money you pay goes towards owning the car at the end.
By owning the vehicle, you can then take advantage of its value – often making your next car cheaper if you choose to part exchange or sell it privately.
But with leasing, you don’t get such luxuries. And although you pay less each month, if you choose to enter lease after lease, you usually end up paying more in the long run – not all the time, though.
Should I Lease Or Buy A Used Volkswagen?
Whether leasing or buying is best for you depends on your circumstances.
If you want flexibility, a low monthly payment and to drive a new car every few years, leasing is the best option for you.
If you have the finances already in place or can afford higher monthly payments, want to own the car at the end, and you’re not bothered about swapping every three to four years, buying is probably the right option for you.
Either way, leasing or buying a used Volkswagen is a great way to take advantage of good-value, luxury motoring.