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in what situation...
Jaguar_Skills
Posts: 557 Forumite
in Motoring
Is it better to lease a car rather than buy one? I'm coming back from travelling and don't know whether to lease a car or buy one second hand for around 5k?
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Comments
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Leasing is better if you stand to benefit from the fixed costs versus a new car. A 2nd hand one will almost always be cheaper over the 2-4 year lease term than a new lease would be, unless it suffers serious mechanical problems.0
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For most cars it's better to buy, only those with high devaluation rates are better to lease according to this Which article, although I'm not sure how old it is.
The big difference is secondhand vs new not lease vs buying.
Also see: Is it cheaper to lease a car or buy one?0 -
Rarely is leasing better value than buying with cash other than from a cashflow perspective. The only time it is better value is when the bottom falls out the secondhand market but if you are only talking a £5k car then that wont make the world of difference to you or if interest rates explode.
The benefits of leasing are the low up front costs, predictability etc0
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