Advice on Leasing

alias7

I'm 20 and approaching 1 year of driving. I am looking to use my savings to buy a Vauxhall Astra TwinTop.

The 1.6 model which I'm looking at is approx £15k, if I buy a 6 month old model which will have come through most of its initial depreciation.

Leasing has never been something I have known about, so I'd like some advice.

What are the advantages and disadvantages of leasing? I'd be looking for a 12 month contract, with a not-too-tight mileage restriction (I could cope fine with 12,000 miles PA).

Any help is appreciated.

nickmack

alias7 wrote:

I'm 20 and approaching 1 year of driving. I am looking to use my savings to buy a Vauxhall Astra TwinTop.

The 1.6 model which I'm looking at is approx £15k, if I buy a 6 month old model which will have come through most of its initial depreciation.

Leasing has never been something I have known about, so I'd like some advice.

What are the advantages and disadvantages of leasing? I'd be looking for a 12 month contract, with a not-too-tight mileage restriction (I could cope fine with 12,000 miles PA).

You may struggle to get a 12 month lease with many companies. Personal Lease are usually for 24/36 months. If you can get one, a year lease will be quite expensive unless they have a deal on some cars they're trying to shift.

You probably want a Personal Contract Hire. You lease the vehicle for the specified period and then hand it back at the end of the time. As a very rough figure, you'd be looking at about £250+VAT for 24 months.

Remember you also still have to insure the car, so make sure you get some quotes before signing up for the lease.