Thoughts on leasing over buying?

Joined
26 Feb 2005
Messages
2,793
Reaction score
143
Location
Gwynedd
Country
United Kingdom
As the title really - Mrs WabbitPoo suggested leasing her next car instead of buying one. We go for ones which are 1 or 2 years old normally.

Is it a silly idea?
 
Sponsored Links
Yes - we went for the Vauxhall 0% finance over 5 years , and a long warranty ;)
 
Depends on how much you have to spend really. less trouble with maintenance on a leased car (theoretically) but will probably work out dearer.

I run 10 year+ old cars and throw them away if something serious goes wrong they are so cheap to buy. Having said that I have had a Peugeot 406 for 4 years and a C5 for 2 and they are still going strong and cost a pittance to run compared to a new car.

Peter
 
IT's fine while you have the income but if things take a down turn at the end you are stuck with no car if buying at least you have wheels and indeed could trade in for something more economical.

My worry is the small print, a minor dent you might live with may cost you dear when the car is returned.
 
Sponsored Links
I heard of a case of a leased VW Golf supplied with no spare wheel and returned with a spare wheel receiving a surcharge for a replacement tyre repair kit. Surcharges for minor blemishes which were essentially fair wear and tear were also made. I wonder if the inspector was on a bonus scheme, or if he was just a total ****. Stuff leasing if this is what you get at the end of it.
 
Carefully do the maths....at the end of the lease period you will have paid out a considerable wedge of the price of that vehicle new - and you wont own a bit of it.
Its maybe ok for business use where the vehicle can be offset against tax, but its not really for the private individual.
The Peugeot deal where you 'only add fuel' is as good as it gets - but ding the thing at your peril!
John :)
 
Unless you need a very new car then buying a 5-10 year old model is the most cost effective.

I know someone who always leases a car. They consider the cost to be on par with buying/owning a new car and having that depriciate in value over the period of a lease, but with the added bonus of servicing and the chace of buying the vehicle at the end of the contract.
 
Back
Top