PCP vs leasing vs other - comparison?

iamparakeet

Hi,
I'm considering new car options. I'm in the final year of my first PCP.

I now want to compare options including leasing, PCP, HP and nearly-new.

I feel sure (hopeful) someone must have put together a spreadsheet for properly comparing costs on these options. Does anyone know of any good comparison against these options?

My gut is starting to say - if I am not intending to pay the GFV outright at the end of the next period, leasing may be a better way to lose less in depreciation.

Thanks.

neilmcl

I think the first thing you need to do is decide whether you need/want a new car or not. If the answer is yes and you have no intention of keeping it after the finance period then I'd say leasing is probably the better way forward, but ONLY if you are sure you can make the payments throughout the whole term.

Hintza

Not rocket science, deposit, monthly payments, balloon payment if pertinent, VED and any other costs. Then add it all up and see hpw much cost of ownership is.

If you end up with a car to sell you will need to factor in a residual value in to the figure too.

prowla

Cash - you own the car.
Loan - you own the car.
Hire purchase - you end up owning the car.
Lease - you never own the car.
PCP - you can choose whether you want to own the car at the end.