Leasing vs Buying New

ioscorpio

http://www.skyfleetltd.co.uk/carman/index.php?action=listingview&listingID=89740

Citroen C1 £67.72 per month

allypally_2

i am also considering going down this road.............never occurred to me before but after reading a letter in the motoring section of a paper + a friend trying to sell her 1 year old car for 7k less than she paid a year ago it seems a sensible option.
are insurance costs the same as if you owned the vehicle?
what happens if you damage the car/someone else damages your shiny new car?
anyone else with car lease experiences?

nickmack

allypally wrote: »

are insurance costs the same as if you owned the vehicle?
what happens if you damage the car/someone else damages your shiny new car?
anyone else with car lease experiences?

You may be more restricted in the choice of insurers, as not all will cover vehicles owned by a lease company. Otherwise, insurance essentially works the same as it will be in your name.

Hintza

The one thing that is imprtant. Be realistic about your mileage!!

I have a car on a one year lease with 10,000 miles and am not even at the end of my third month and my mileage is over 5,000 miles. At 20p + VAT per mile over 10,000 this is going to hurt.

ioscorpio

Which insurance companies do insure lease/contract hire cars?

Conor_3

iwilldoitthistime wrote: »

Hi there

apologies if this has been discussed before - but Ive hunted and cannot find anything!

Can anyone give me advice on leasing versus buying a new car. My car is coming up to two years old, and I dont know if I would be better getting a lease car to be renewed every two years, rather than buying another new car, which seems to lose quite a lot in the first two years.

!

What's wrong with keeping what you have? It seems completely pointless to be shelling out £100's a month to pay for a car when you've got a perfectly decent one already.

To me, it seems to go against everything that these forums are about - reducing spending.

nomoneytoday

ioscorpio wrote: »

Which insurance companies do insure lease/contract hire cars?

99% of them, as its simply a financial agreement to buy a car
They would add the HP company as an "interested party" and pay them first if the car was written off..

Conor_3

albionrovers wrote: »

Personal lease every time for me.

2 year interval.
Never need an MOT.
Never need more than 1 service on a 10000 mile/year lease.
Never need to renew a tax disc 'cos they send u a new one.

https://www.skyfleet.co.uk - my current supplier - BMW 318i SE.
https://www.lingscars.co.uk - has caught my eye recently. Check out the Audi A3.

Never own your car
Never be able to do so much as even change the stereo
Pay through the nose for excess mileage
Pay through the nose for damages.
Pay £100's a month forever just so you can say you have a new car.

plane_boy2000

Conor wrote: »

Never own your car
Never be able to do so much as even change the stereo
Pay through the nose for excess mileage
Pay through the nose for damages.
Pay £100's a month forever just so you can say you have a new car.

Never wanting to change the stereo as I got the one I wanted.........

Paying a price that represents the extra depreciation for excess mileage

Paying the same price for repairs as anyone else

Keeping my cash in the bank and not worrying about depreciation while knowing exactly what my car is costing me each month.

No unexpected repair bills

No MOTS

Having a nice safe car for my family

anewman

You can lease a really nice convertible http://www.lingscars.com/car_detail.php?make_model=427&id=520&status=0 only £24.99 a month. Gets you from a to b what more can you want?!