Better financially to buy or lease?

namieco

I have been leasing a new Ford Fiesta for the past couple of years. It's brilliant and couldn't fault it.
It's coming up to the time where they either let me buy it at a discount or lease out a new car. I'm not sure which is the more financially sensible option, as a new car will need less potential repairs and servicing and will be reliable, but I don't think leasing is looked on as well as buying. 
Any advice?

motorguy

A two year old Fiesta should run for a very long time without needing major spend.

If you otherwise love the car and cant fault it, i'd buy it off them (assuming the price is reasonable).  If you dont want to use up hard cash, there are plenty of cheap loans about.  Drive on at the car as long as suits you, then IF it does give trouble, consider moving it on at that point.

Grumpy_chap

namieco said:

I have been leasing a new Ford Fiesta for the past couple of years. It's brilliant and couldn't fault it.
It's coming up to the time where they either let me buy it at a discount or lease out a new car. I'm not sure which is the more financially sensible option, as a new car will need less potential repairs and servicing and will be reliable, but I don't think leasing is looked on as well as buying. 
Any advice?

This is a broad question with many variables that could affect the route forwards but, in the absence of any reason to vary, I second @motorguy

DrEskimo

I third @motorguy.

Cost of a new lease (i.e. new car depreciation) will be far far greater than any servicing or maintenance + depreciation on a 2yr old car (assuming you can get it for a reasonable price from the lease company that is).

I'm guessing it might even be still under warranty for another year or even more? Probably extend it with Ford for a modest yearly fee if you are worried.