Car leasing

Nesty

Hi

I have started a new job which pays me mileage allowance. My existing car a Volvo only doing 25MPG (if that). I now require a car, which does much better MPG.

A friend of mine said he leases a Citroen C1 for £125 a month, this includes Maintainance and tax.

The Citroen does 60mpg and would work out ok on the fuel.

Either I pay £2000 for a car which considering the mileage PA of 20,000 might break down? Or possibly lease a new car.

I was wonder what people views on car leasing is. Has anyone done it?

xycom1

Yes I have a car on personal lease. Based on the deposit+monthly payments, compares very favourably to the costs of buying the car and then trading it over the same period of ownership.

If you're not fussy about the model and spec that you're going to have and just take whatever is on offer at the time, then you can get some outstanding deals.

flashg67

Everyone will have their own view, but the fact that 100s of thousands of company cars are leased must mean it works for many people.

My brother leases a C1 and, having been in it, I wouldn't like to do 20k pa in it. Not being snobbish, they just are what they are. He likes the low hassle of leasing -eg known costs over a set period, and you can just give the car back at the end and start again.

If you're happy with the concept of never owning the car, leasing with maintenance can take a big load off your mind. The maintenance budget is set against an average driver, eg number of tyres, sets of brakes etc, so any savings you make by being a 'good' driver only benefit the leasing company, rather than you, if you actually owned your own car.

DELLBOY_2

i think its the way to go but 20000 miles in a c1 ????????
something slightly bigger
£200 a month gets you in the comfort zone easilly .
im currently looking at a similar plan for an estate car .....

Nesty

Thanks for the replies. 20k mileage might be a bit excessive depends how the jobs expands. Probably be around 15,000 currently max?

However, the cost is a bit important to me. Need to get in the 60mpg zone to make it pay. I already have a car so it's not a great deal to me not fully owning another one. I am just looking for the cheapest way of getting around in my job and banking as much of the mileage allowance as possible.

The thing which concerns me owning another car. If it breaks down etc (only would have a budget of £2000). Id have to fork out extra funds. Wherea's the leasing aspect would all be taken into consideration!

Hintza

Nesty wrote: »

However, the cost is a bit important to me.

Might not be when you are too knackered to do your job properly and get sacked and still have 2 years to pay on your lease.