Posts Tagged ‘BMW car leasing’
General Motors goes bankrupt -but what does this mean for us?
General Motors, one of the world’s largest carmaking companies, has filed for bankruptcy protection in America. For as long as cars have been around, General Motors (GM) has been one of the three largest producers of cars in America as well as one of the world’s biggest car companies. Now the car industry is on its knees, and of the three biggest car manufacturers in America two have now been forced to seek protection from their creditors by declaring themsleves bankrupt. But what difference will all this make to us?
Well, for car buyers in the UK, the answer is probably not a lot. If you have a car that was made by GM, you don’t need to worry about the possibility that you might not be able to get parts for it in the future, as the company is still in business and hasn’t ceased trading. With the financial protection of the US government, they predict the company will be reconstructed in as little as three months. In addition GM Europe, which consists of the British brand Vauxhall and the German Opel, has already been sold off to a Canadian company who have agreed to do everything in their power to save the 5,500 UK jobs that could be at risk.
For consumers looking to purchase a new car in times like these, it could well be that leasing or contract hire could be a better option than buying outright, as it gives you more freedom of choice and wouldn’t leave you in the lurch later if the manufacturer did go out of business. Certainly if you are worried about buying a car by one of the main manufacturers tied to one of the companies that is at risk such as Vauxhall or Ford, car leasing could put your mind at ease.
Whether you’re looking for a handy little car about town or a fancy new BMW, car leasing gives you a wider choice of vehicles including those that may otherwise have been out of your price range for buying outright. Your agreement takes into account your projected mileage and wear and tear, so your car won’t decrease its financial value over the course of the contract and at the end of your contract you can simply trade it in for the upgrade of your choice. While the car industry is struggling to stay afloat, leasing could be the most effective method to ensure that any future disasters don’t affect you too much!