You’re here because you want to know whether or not it’s still worth leasing a car in 2024.

And we’re going to be honest, there have been some ups and downs within the car industry over the past few years and we need to discuss them before we give you an answer.

Let us first explain why you may have noticed car leasing prices increasing over the past few years.

Hard times for the car industry over the past few years

Since COVID-19, Brexit, the global semiconductor chip shortage and the Russo-Ukrainian War, things have been difficult. These issues, in turn, have affected the car industry heavily.

With factory orders taking anywhere between 6 to 12 months due to factories running at low efficiency. And car parts being delayed due to the ongoing crisis in Ukraine, where lots of factories produce individual parts for manufacturers.

These issues resulted in increasingly more expensive new cars and subsequently, car leasing prices increased across the board during these events. 

As customers could not afford the higher costs of new cars, they turned to the used car market. And unfortunately (fortunately for some sellers), the used car industry saw a massive boom in value.

With some used cars selling for more than they did when they were brand new while having 30,000 miles on the clock. Some manufacturers were even ringing up customers asking if they could buy back financed vehicles purchased through them, as they knew they could sell them for a bigger profit.

At the time of writing this article, if you live in the UK, you will be very aware of the cost-of-living crisis which started back in 2021. This is causing customers to be more careful when it comes to spending their hard-earned money.

Things are looking up now at least.

We’re now at the tail end of the issues with COVID-19. And the Russo-Ukrainian War, although still ongoing at the time of writing this article, has been adapted to. 

With most manufacturers having relocated their parts processing facilities away from Ukraine, which has made (most) parts delivery times normal again.

The semiconductor chip shortage seems to have been alleviated, for the most part, which has fixed most vehicle and parts delivery times now.

Now that you are caught up, we can get to the point of this article.

Is car leasing still worth it in 2024?

It might sound a bit biased, us being a car leasing brokerage, but the answer is yes. But rather than an outright yes, it’s more of a careful yes.

A careful yes because, while car leasing is definitely still an avenue worth pursuing, you should be keeping an eye on lease deals that seem out of this world for now.

Gone are the days of 2015 when you could get a Volkswagen Golf R lease deal for $399/month every week. But while those days are gone, the deals are not outright gone and have just become rarer.

Unfortunately, because of the rarity, when these mega deals do come out, they are sold out very quickly due to them being excellent value and spreading quickly via word of mouth and social media.

There have been some excellent car leasing offers that have sold out for us very quickly recently. And we’ll show you why below.