Are motorists in the South of England paying over the odds for their vehicles?
The typical costs of a vehicle in the south of England can be up to 10% more than in the North. Furthermore, drivers in the south of England are more likely to lease their vehicle than those in the north – we explored further to find out why.
It’s fairly accepted that when buying a house, there’s a North/South divide - almost everyone will compare the two and conclude the North offers cheaper living. So why don’t we think the same way when it comes to buying or leasing a car? Well, it seems that some savvy motorists do…
On average, a customer could save £421 on a family car if they were to buy it further up North, then down South. Julian Pearson, Managing Director of Car Leasing, told us: “Previously, I’ve worked with leasing companies up North that have actually had customers from the South travel up, just to save on their leasing deal. It’s a no brainer really, to travel 150 or so miles to save £600 on a car, why wouldn’t you?”.
Of course, not all makes and models provide the same incentives. Savings on a bigger 4x4 or SUV would be much larger than for smaller compact cars. While some customers are not so bothered about the smaller savings, it’s a lot more common for people to travel further for larger vehicles that attract bigger savings.
When it comes to the decision of whether to buy or lease, those in the South are more likely to lease. That’s not just business customers, but personal contract hire and car leasing too. Car proud motorists in the South are more prepared to lease their vehicle to get the car of their dreams.
Steven Parkinson who travelled north 201 miles to save £1,369 on his new car lease had this to say. “It didn’t take much thinking to be honest. I travelled up North via train which cost £33 and drove my new Jaguar F-Pace home the same day on about £30 fuel. Over 36 months, I’m saving almost £40 per month. It may not look much at a first glance, but in my current situation, it will be more than worth it.”
Before deciding on your next vehicle, it’s worth remembering that it pays to shop around. Thinking further afield can often lead to bigger savings. If you’re in the market for a lease vehicle, avoid the North/South divide with a nationwide car leasing company. They offer the best deals possible on a wide range of makes and models and deliver to your doorstep free of charge, anywhere in the UK.
