Looking to lease a small car- advice please

chocolatepennyfarthing

As my son has recently passed driving test considering giving him my current car (59 plate Micra ) and thinking about leasing a new/nearly new small car for me.


Looking for a bit of advice really as never done this before but seems like a good option for the next 3/4 years and to save forking out all the money at once for a new car. Would probably hand the car back at end of lease period rather than purchase outright.


What are the best small cars to lease? I know I need to bear in mind milage when taking out contract, what other point do I need to check?


Anyone have experience of doing this and offer advice on what to to for and where is best value to get the vehicles from?

dannyrst

Do you do a lot of driving?
Could you still use the Micra on a weekend or at night?
Where do you usually drive/park?

Basically, the less you have to drive a lease car, the cheaper it becomes. Also, if the car is at risk of being dented (in supermarket carparks etc) a large amount of the time, it could become expensive when you hand back the car.

Although it sounds like you're looking at buying and not paying the balloon payment as opposed to leasing a car, where the option to buy isn't available at the end of the deal.

chocolatepennyfarthing

looking at 8/10k miles a year. Son work part time at evenings and weekends so would need access to car then. car is parked on drive at home or staff car park when working.


Not 100% certain on the difference between leasing and PCP options available. I guess you mean the PCP gives you the option to buy at end of term.

dannyrst

A lease is just "borrowing" a new car and giving it back at the end in as new condition for the company to sell on as a single owner car. You never own the car.

PCP deals give you the option to buy a car that you own and at the end you have a balloon payment to pay if you want to keep the car. If you don't want to pay that, you simply hand the car back to the garage and they sell it.

Whilst a lower mileage will reduce your monthly cost to lease/PCP, you will be heavily charged for excessive mileage so only look at 8,000 mile deals if you can guarantee that you will not go over!

If you can go electric, it might be worth looking at Renault Zoe's, I think there are some good deals around for those at the moment. Otherwise, stick to main brands and popular cars like Ford Fiesta. Keep an eye on popular deal sites as there are regularly lease deals posted on them.

19lottie82

Best small car is the VW Polo. Other possible alternative would be a Toyota Yaris.