Office dude is saying buying a leased car is better than buying one outright!????????

neneromanova

I Bought a Beetle 3 years ago this may via a bank loan and now I wish I'd gone for the lease as money is tight trying to pay this bank loan off now and if I'd have gone with the lease I could have just handed the keys back in May and been ok.

I bought the car for £12,995 and took out a bank loan for £15k to also pay for insurance, tax and bits that needed to be done. What I didn't think about was that the Bank loan added interest on (Duh!!) so my £13k car turned into an £18-19k car!

anewman

Gets out popcorn and waits for crazy Chinese woman

Pee

I think the answer is that it is worth considering.

I say this as someone who prefers old bangers and would never get a £10k loan for a new or nearly new car, however, if I was going to, from what I have seen the leasing arrangement would suit me a lot better. As I understand it repairs and services are covered and if there is a problem with the car, you can chage it.

If you were going to do that, you should still have a three months salary rainy day fund, in case you did lose your job.

I would look at the options on the cars you like and keep an open mind.

maninthestreet

Inactive wrote: »

You should be looking for a nice 55 plate Micra with a good handbrake.:rotfl:

No point if you forget to apply the handbrake whilst parked on a ramp.....

vikingaero

anewman wrote: »

Gets out popcorn and waits for crazy Chinese woman

You mean noodles.

I think leasing is a good idea if you have a steady job and lifestyle.

emmell

Inactive wrote: »

You should be looking for a nice 55 plate Micra with a good handbrake.:rotfl:

And preferably an MOT.
ML.

Kurtis_Blue

MX5huggy

The problem with leasing is the extra charges when you hand the car back. They will charge you a lot for every little scrape and dent from getting too close to concrete pillars in car parks.

Young_Pretender

Personally I don't see why anyone feels the need to spend 10k or thereabouts of money that they don't have on a car. I speak as a man with a serious and unjustifyable desire for £20k's worth of Porsche 911.

£2-£4k will buy you a reliable car, or even an intereresting fun car if you're prepared to do some research. The thought of paying 10k plus interest for a Focus or Golf that will only be worth 4k by the time I own it outright bores me rigid. Leasing, IMO, is an even worse deal, in that you hand over wads of cash and yet never own the car unless you fork out a huge 'baloon payment', often similar to the value of the car at that time anyway, to keep it.

I've never spent more than £4k on a car, and yet I've owned Audis that do 50Mpg, a 2litre turbo Rear wheel drive Nissan with 200bhp, and a mod engined supercar that's 22 years old, rare and utterly reliable. Ok, so it's a Toyota, but it's a hoot to own and drive.

You can do motoring on a budget, but it takes a bit of research and planning. Of you want shiny and new, you WILL be paying for it.

kwaks

What most on here are forgetting is the OP is a relatively new driver who has never before purchased his own car (micra was a gift). Don't underestimate the excitement generated when searching for your first car purchase.

OP, like others my advice is to buy cheaper and older, you can get a car MUCH better than a micra to drive without plunging into debt.