Cheapest car leasing deal?

QrizB

Big difference between a lease car that is generally new and an 18 year old banger with 4 weeks MOT.

And that's why the OP needs to be clear about what he wants.

So far, all he's said is that he wants a car or van that he can drive on a motorway. A 2008 Micra meets that requirement.

Mildly_Miffed

There is not a single car on the UK market, nor has there been for MANY years, which cannot be legally driven on the motorway - even the 28mph maximum Citroen Ami is legally allowed on.

There are a myriad of lease providers who will give quotes for every new car on the UK market. Which deal will suit you best depends on a whole range of factors you've not mentioned - not least how many miles per year, and how long a contract you want.

Don't forget to amortise the up-front payment. This would take, say, the cheapest deal I can quickly find on one particular site from a headline £125/mo (+ £1,500/upfront + £225/fees) 24mo deal to the equivalent of £196/mo.

Also - other financing options might suit you better than lease.

born_again

https://forums.moneysavingexpert.com/discussion/6655039/cheapest-car-leasing-deal

Sadly you need to sit down with either pen & paper or make a spread sheet, as you need to work out what the cost is going to be over the term of the lease, due to different 1st payment options.

End of the day, the greater the 1st payment, the less the rest are, but you still end up paying the same amount.

LightFlare

One thing to consider with leasing as well is that it’s not your vehicle

You need to take great care of it or face possible charges at the end

jimjames

https://forums.moneysavingexpert.com/discussion/comment/81882702#Comment_81882702

Although the thread title is Cheapest car leasing deal? which would suggest that buying a car isn't an option they want to consider rather than what is the cheapest way to run a car

Desmond_Hume

https://forums.moneysavingexpert.com/discussion/comment/81882624#Comment_81882624

Interested to hear the rationale here. Where have you come up with this?

faringdon

Thanks, its for personal use. One of the hardest things to assess, is if you buy it on a 8000 miles per year basis, is it then possible to convert it to say a 12000 miles per year basis?, and if so, how much does that cost?……and say if you do 12000 miles in a year but your contract was for 8000 miles per year, then what happens? (how much are you charged?)

Also, is it possible at any stage during the lease, to buy the car outright, and how much is it?

This is an area extremely deeply mired in marketing clap-trap.

Any leasing company that just came up with a simple cheap deal and without the marketing nausea would clean up in this sector. Most people just want wheels to get from A to B at the absolute cheapest price……they dont want radios/electric windscreens etc etc etc

Surprisingly electric cars seem cheaper to lease?…..i dont have anywhere to charge an electric car but i suppose i could hop off to a service station now and again and top up.

Herzlos

With a lease you don't own the car, can't buy the car, and have no flexibiilty to end the deal early.
They may let you upgrade to a higher mileage plan, but may not.

Leases are good for a fixed cost car, useful for business accounting. But if you want flexibility you want to buy one. If you want cheap then buy used.

Leasing a cheap car is fine as is, you go to whatever website you want, sort price low→high, buy, done.

Most people have more requirements around space, height, etc.

The cheapest new car in the UK is the Dacia Sandero, which does the job. Though lease costs have a lot more variables so if you want something cheaper you just need to look for random deals and take what's there.

You're grossly overthinking it.

sheramber

https://forums.moneysavingexpert.com/discussion/comment/81883463#Comment_81883463

You are not buying the car, you are renting.

The lease agreement should tell you what extra mileage would cost.

Watch the increased VED on electric cars when working out costs.

You could buy a second hand car on HP then mileage wouldn't matter and you would own the car at the end of the contract.

Arunmor

https://forums.moneysavingexpert.com/discussion/comment/81883114#Comment_81883114

Quite simple really, manufacturers don't want to sell off excess stock cheap into the market and ruin residuals, that results in unhappy buyers who paid full(ish) price so to mask that they offer them to lease either directly or through other agents.

Granted supply has altered over the last few years so there will not be as many of these deals but if you dig around you will find them. Probably on EVs if your that way inclined.