Leasing cars

[Mandofred]

Not interested at this time (car is only 17 months old)...but in another couple years when the MOT starts happening I was thinking about just leasing like quite a few people seem to be doing. Always have a new-ish car....no MOT.... We do very few miles...currently only have just over 7000...although the lockdowns have reduced things a bit. Once our dogs are gone I was hoping to do more driving, but still won't be more than 10K a year. Anybody know of the cost difference with owning and leasing vehicles? One of the guys I play switches every 3 years or so.

 

[Deleted member 21784]

https://www.jgleasing.co.uk/

I used these

You can get a breakdown for any car on there

 

[Lord Tyrion]

Google lease loco. Good site.

For the miles you do you will be able to get a very nice car for not that much. A chance to treat yourself.

 

[Britishshooting]

Always been a little averse to finance etc. but recently converted as the numbers do work in my favour for what I want to drive. If nothing else for the complete hassle free options out there and not having to faff around with selling a car is worth it to me. My company car is electric, I love it and it's great for work when I'm planning ahead. A few times it's been a burden when using for my own social day to day activities so I decided to get something to use for my own personal mileage.

I pick up my Range Rover Sport SDV8 tomorrow on PCP. Under warranty during my 'ownership' includes a servicing package and I have a good relationship with the dealer I've bought it from and will trade back to them in 2 years time and start again.

 

[Deleted member 21784]

If you buy new it's a no brainer

My boss leases

His example was a 30k car

He could do 2 year leases

By time he has paid 30k out he has been through 5 different cars

 

[backwoodsman]

Think of it this way ...

a) buy a new car outright then sell it, say, 3 years later. How much are you down on the finance? (Ie difference between buying price & selling price)
b) lease the same new car for 3 years at X pounds per month. How much did it cost.

By and large, you'll find there's little difference. Just a question of which model appeals to you best.

 

[PhilTheFragger]

To my mind, its fine to lease, but what happens when you want to stop

You either hand the car back or buy the car outright at the end
Ive heard some horror stories about charges being levied for what is normal wear & tear

Can someone give me the SP on the above

 

[Dibby]

The way I've always looked at it is to consider it from a cash flow perspective.
By that I mean if you could afford to buy it, but leasing makes sense, because you get to keep the cash and do other things with it, hopefully earning more than any lease interest, then you end up better off than if you just buy the car and later sell it.
If you use leasing to get something you can't really afford then it is not so good (although plenty do this).

The other consideration is how long you would keep a vehicle, leasing can be cheaper than doing the same cycle with newer vehicles, but buying a vehicle and holding it for longer may be most cost effective. I guess comes down to value of a flash new car to you, which is individual.

 

[backwoodsman]

To my mind, its fine to lease, but what happens when you want to stop

You either hand the car back or buy the car outright at the end
Ive heard some horror stories about charges being levied for what is normal wear & tear

Can someone give me the SP on the above

I'll let you know when I hand mine cback next year ...

 

[Deleted member 21784]

To my mind, its fine to lease, but what happens when you want to stop

You either hand the car back or buy the car outright at the end
Ive heard some horror stories about charges being levied for what is normal wear & tear

Can someone give me the SP on the above

You can approach to buy it

Also take insurance on the car for 3 years for example £400 for stratches etc .. can get the car looking brand new throughout and means no charges

Fair wear and tear is suppose to be pretty fair anyways

 

[Dando]

To my mind, its fine to lease, but what happens when you want to stop

You either hand the car back or buy the car outright at the end
Ive heard some horror stories about charges being levied for what is normal wear & tear

Can someone give me the SP on the above

On my 3rd leased car at the moment and not had an issue with the wear & tear policy so far.

I’m thinking of either buying my current vehicle or seeing what deals my local Hyundai dealer had as I love my Tuscan.

 

[PhilTheFragger]

Think you mean Tucson ???

 

[Dando]

Think you mean Tucson ???

?

 

[Oddsocks]

Or buy a pre reg model and minimise your loss, still having an asset at the end. It’s 20% cheaper as the dealer has been hit with the vat

 

[harpo_72]

I need to consider changing the family car next year. Wife wants to have a brand new car and is expecting some low finance deals . But currently they are sitting at 8-12% apr on late models and 4-6% apr on models due for a refresh.
My attitude is buy secondhand low mileage get a 2017 car and run it into the ground, we do 10k a year max so we could get to 80k miles by 2030 if I buy wisely. I don’t want to be lumbered with a monthly payment as I could be left high and dry with no job.
I gave up on new cars, even though I work in the industry, you lose too much money from different parasites- finance deals, dealer mark ups , branding, devaluation due to minor refreshes etc.. it’s just a car after all