Car lease coming to end - buy or hand back

lopsyfa

AdrianC said:

If you're only covering 5k/year, do you need a car that large and expensive in the first place?

Buy it for £11k, sell it for £16k, spend the £5k profit on buying something that'll do the job perfectly adequately. You have a car, you have your savings. Job jobbed.

You've spent £286 x 48 (and I'm assuming there's no up-front on that lease you've forgotten about?) for 20k miles = £13,728 = 68.6p/mile for the lease alone plus fuel, insurance, maintenance, all the other costs on top of the lease...

The OP can buy the car for 16k but may not be able to sell it for 16k but I agree with the general point you are making. I will check the price of selling to the likes of WBAC to base the decision on.

oscarward

Perhaps op needs a large car to carry something like a wheel chair and expensive as its new to ensure reliability. 

AdrianC

oscarward said:

Perhaps op needs a large car to carry something like a wheel chair and expensive as its new to ensure reliability.

Neither "new" nor "expensive" ensure reliability - and they are now considering purchasing a four year old car to continue owning for the years to come, rather than replacing a 4yo one with a new one.