Buy or lease a car?

[Slumdog]

..moved to general

[gingerjedi]

Buy a nearly new cheap Mondeo diesel and flog it till death for 10 years, seriously.

This makes an interesting read: Buyers may be wasting money on diesel cars

[Elevator_Music]

Buy a nearly new cheap Mondeo diesel and flog it till death for 10 years, seriously.

This makes an interesting read: Buyers may be wasting money on diesel cars

That does make interesting reading indeed. Mind you, there are good cars for cheap prices on the 2nd hand market at the moment. Saw a 2002 Jag X-type 2.0 petrol, with 40k on the clock for circa 5k in the trader! In anyones book that would make a nice motorway mile munching second car!

[Slumdog]

I would prefer something a bit more up market. This can count towards a present for myself for being boomed.

[BolshieBastard]

Been seriously considering a leased car as it is cheaper despite what some say.

With a lease car, you dont put down 10% and typically 3 monthly payments in advance works out at about half this 'normal' 10% deposit. The repayments are broadly similar. You dont own the car at the end but have no disposal worries if for example, you fancy a Range Rover Sport or some other high VED vehicle.

What you do have to worry about is the 'fair wear and tear' on the car when its handed back. Apparently the lease industry reckons to obtain the equivalent of (usually) 2 monthly payments ie at least £600 from the leasee to 'correct' damage over and above FW&T. Bear in mind a scratch over one inch is considered over and above FW&T!

Apparently many people manage to polish out such scratches but forget the front valance under the bumper.

On balance, I've decided its better to buy on a PCP and if necessary, hand the car back at the end of the PCP.

EDIT: Forgot to add, it is only worthwhile leasing a car provided the lease payments you make do not equal more than 50% of the vehicle's original purchase price.

[Ken Dodd]

leasing: it's the future..

I'm on my third lease car.

Currently on my second Audi A6 on a personal lease basis. this one costs me £355 per month for 24 months and is cheaper per month than the last one.

The plus(es) are these:
* brand new car
* no road tax
* totally reliable
* no major capital outlay
* spend less than buying a new car over the same period
* new car every two years.
* 'premium' cars are cheaper than non-premium beacuse the residual values are higher.

[tino]

Out of interest, what would you be looking at paying per month to lease something like a Cayenne or a top of the range Land Rover?

[Ken Dodd]

Out of interest, what would you be looking at paying per month to lease something like a Cayenne or a top of the range Land Rover?

shop around as the price varies.

£500 upwards I'd imagine

[NickNick]

I leased a Honda Jazz for £99 a month including insurance with no deposit. Mileage limited to 10K though.

At the end of the first year, I was given the chance to buy it at
(the retail price at t = 0) - (12x99)
which we jumped at. I'd definitely do that again, but compared to a BMW 120d I leased for close to 400 a month I'd not touch that again.

[tino]

I leased a Honda Jazz for £99 a month including insurance with no deposit. Mileage limited to 10K though.

At the end of the first year, I was given the chance to buy it at
(the retail price at t = 0) - (12x99)
which we jumped at. I'd definitely do that again, but compared to a BMW 120d I leased for close to 400 a month I'd not touch that again.

Too expensive or just cause it's a BMW?