A CAR insurance expert has revealed the easy swap drivers can make to save thousands of pounds while shopping for their motor.

If you’ve been buying your vehicles outright – you may have been making a costly mistake.

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David Pope Insurance revealed that although many drivers purchase their new motors outright, the more cost-efficient option would be to lease them.

“Leasing may be a good option for you if you want a vehicle with the latest safety features but cannot afford to purchase a new vehicle,” they wrote on their website.

“When you lease a vehicle, monthly payments can be near or even under £80”.

If drivers choose to lease a vehicle, the insurance experts emphasised that they may still need to buy auto insurance for the car.

“While some types of coverage may be optional for a leased car, others may be required by your lender or by law,” they added.

As part of their handy guide, the company revealed the lengthy list of pros that drivers can experience by leasing their vehicles over buying them outright.

Drivers can experience lower monthly payments as a result of leasing – meaning you may be able to drive a car that you cannot afford to buy.

Less money is also required upfront during the leasing process, and many vehicles can be leased without putting any money down.

Upfront fees are usually rolled into your monthly payments.

Drivers also have more choices of vehicles when it comes to leasing as they don’t need to worry about its quality or reliability as it will likely only be driven for a few years.

Leasing cars is relatively low maintenance, according to the experts, as drivers will not need to take stress over the costs of potential major repairs – and maintenance may be free during the first years.

Drivers are able to lease the latest models which allows you to enjoy the newest safety features and technological advancements.

The diminished value of vehicles is also not your problem if you lease as the financial burden following an accident falls directly onto the leasing company.

If the leased vehicle is used for your business, you may also be able to write off the lease payment as a tax deduction which means you may not have to pay taxes on the vehicle’s full price.

But though leasing can be a great option, it does come with its own set of disadvantages.

When you lease a vehicle you are not able to keep it – so if you prefer to invest in a vehicle, then leasing may not be the right choice for you.

Leasing vehicles can potentially be more expensive than buying vehicles as you will always be making monthly payments – whereas if you buy a car, you won’t have to make monthly payments after you pay off your loan.

You may also have to pay acquisition, deposit, and wear and tear fees, while insurance may be higher on leased vehicles.

Most leases also restrict how many miles you can drive per month, so leasing a vehicle may not be a good option for you if you plan to drive long distances.

On top of this, you may not be able to cancel a lease when you want and you cannot customise a leased vehicle.