Car Leasing v. Buying

newt1234

Hi I currently own my own car but have had constant, expensive repairs on it. Does anyone know of schemes similar to leasing where you don’t have a brand new car & they cover all repairs. 

   Haven’t had any luck with buying a warranty as they quibble when you make a claim & say you are not covered. Long term is it best to buy or lease etc. and if buying how do you find a reliable car without getting ripped off from a private seller or overcharged at a garage? I bought from a garage last time low mileage and yet the repair bills have been extortionate. Any advice appreciated thanks.

Arunmor

I think you will be hard pressed to find such a deal and if you did it would be very expensive and the interest rates would be very high.

How old is your current car and what repairs have you had in the last year or two?

TadleyBaggie

Lease or buy a new car with a long warranty, is probably your only option.

El_Torro

Whether it's better to buy or lease is debatable. It's very unlikely to be cheaper to lease. After all you're the one paying for the depreciation on the car. If you're buying and you buy a car which is more than 3 years old then the person who paid for the depreciation wasn't you. The benefit of leasing is that you get to drive a new car.

Leasing an old car sounds like an attractive idea, since the depreciation is far less. I've never found a company which offers such a thing though.

Peter999_2

I leased a Nissan Leaf E+ 62kW in 2021 and is due to finish on in September.

It cost £348 a month or £351 including all maintenance.     I've had two tyres replaced, 2 services and a MOT so far.   The car was originally £35000 new and I am just about to buy it from the leasing company for £11,300.    There are good deals out there if you get the right car at the right time.

Herzlos

You can get some great lease deals if you're not too fussy about the car - outgoing models, unpopular colours, that sort of thing.

But otherwise you're probably better buying something with a long manufacturers warranty remaining, like Kia with 7 years or Toyota with 10 (if you service at main dealer).

Nebulous2

As I've said before - I once saw Seat mii city car to lease for £62 a month. Many of my colleagues were paying as much as that for an iphone on contract. It appealed to me that I could get a car for less than a phone. 

You need to look for good deals, and be prepared to pull the trigger very fast when you see one. 

I've also got an electric car coming to the end of a 3 year lease. The lease has cost me just under £9k for 3 years, and the car has lost almost twice that in depreciation alone over the 3 years. There is no way that any other way of financing it would have come close..... 

Veteransaver

Arval select lease 2nd hand cars and you can add maintenance to the lease too.