Personal Car Leasing/ Hire

Pinkbug

Hey,

I am looking into Car Leasing rather than buying another car. Does anyone do this and have advice??? I have looked on lots of websites and they do seem pretty reasonable??

Thanks
:j

Gordon_Hose

My company has just started offering the service, and having looked at it extensively, it is by far waaaaay more expensive than running your own car.

Pinkbug

Really? Oh well that doesnt sound promising. I was looking at a small car on a 24 month contract which was working out at about £120 a month including maintnce, I suppose when you add it all up it does seem like a like a lot........:(

Gordon_Hose

That's £1440 a year.

What you need to weigh up is; does running your own car amount to more than that in a year, if it does then leasing is the way forward.

motorguy

Gordon_Hose wrote: »

My company has just started offering the service, and having looked at it extensively, it is by far waaaaay more expensive than running your own car.

How come? That goes against most logical thought around leasing?

motorguy

Gordon_Hose wrote: »

That's £1440 a year.

What you need to weigh up is; does running your own car amount to more than that in a year, if it does then leasing is the way forward.

Surely any new small car is going to cost way more than that in depreciation over the two years? So how would it not be a good deal?

Gordon_Hose

pgilc1 wrote: »

How come? That goes against most logical thought around leasing?

Because I don't buy new cars. So looking at the 1 Series BMW 116d, it was £303 per month (£3636 a year). That is more than any used car would cost me to run in a year.

pgilc1 wrote: »

Surely any new small car is going to cost way more than that in depreciation over the two years? So how would it not be a good deal?

As I said, I don't buy new cars, so depreciation isn't so much of a killer for me.

motorguy

Gordon_Hose wrote: »

Because I don't buy new cars. So looking at the 1 Series BMW 116d, it was £303 per month (£3636 a year). That is more than any used car would cost me to run in a year.

As I said, I don't buy new cars, so depreciation isn't so much of a killer for me.

So you're not really comparing like with like at all then?

And your reply was biased towards your personal situation as opposed to related to what the O/P asked?

Gordon_Hose

pgilc1 wrote: »

So you're not really comparing like with like at all then?

And your reply was biased towards your personal situation as opposed to related to what the O/P asked?

The OP hasn't stipulated whether they will buy a brand new car or not. So I offered my opinion based on my own set of circumstances and for me it worked out more expensive.

You could go out and buy a 2 year old car and it would still work out cheaper to run than leasing.

motorguy

Gordon_Hose wrote: »

The OP hasn't stipulated whether they will buy a brand new car or not. So I offered my opinion based on my own set of circumstances and for me it worked out more expensive.

You could go out and buy a 2 year old car and it would still work out cheaper to run than leasing.

You didnt qualify your position though. You gave the O/P with the impression that leasing was 'by far waaaaay more expensive' without explaining compared to what.

I would have thought there were a lot of circumstances - even comparing new leasing v used, whereby leasing would work out cheaper. A two year old small car will still suffer reasonable depreciation, plus finance costs, etc, so it would easily exceed £120 a month.

Gordon_Hose

lol...sorry!

Do what you want OP. For me it worked out more expensive.