lease or buy

russ_p

can anyone help, is it best to lease or buy a car, does the depreciation outway the monthly charges of leasing?? would appreciate any comments..
thanks

amsurfer

If it's a Special Deal on Lease, and it's what you’re looking for then No Question Lease

If it’s a standard quote there's not a lot in it, it depends on your circumstances as there are benefits for both lease and for purchase (Business).

My thought tends to be if the Lease is less than the Depreciation of the vehicle or similar then it's a bargain!!

Not taking into account H.P Cost or Loan Interest that you would pay.... i.e APR

Looking at the cost of a New Vehicle and then its residual or second hand value, most if not all cars Big or Small New or Used Depreciate!! it’s a fact…

How much did your last car cost you? in depreciation alone
How much did your last car cost you? in MOT, RFL, Service, Repair,

I suppose with leasing you get the Car from New so it's more than just depreciation.. …. It’s even nicer to be the first Driver!!

When did you last have a Brand New Car Delivered to you Home with 4 Miles on the Clock?


Keep the debate going I think it’s good!!

Special Deals = Extra Discount
Standard Deal = Standard Discount

gizmoleeds

https://www.whatcar.co.uk have a depreciation index for every car, so use this to work out the cost over 3 years (or whatever the period of the lease) and compare.

The cost of leasing will almost always be higher than the depreciation, until you add in the amount of interest you could earn on the money in a savings account (or would pay on a loan). (BTW, as a rough guide depreciation will average about 50% over 3 years)

Then, they're usually on a par - personally I think leasing is a better option, as if anything goes wrong with the car it is not your problem.

Also, bear in mind that the first month's payment on a lease will usually be three times the standard payment, road tax is nearly always included in a lease, and not all figures will be quoted including VAT.

amsurfer

I could point you to a page that explains it all... but I got told off for Advertising so if you want more info let me know......... I'll post a link!! if not no worries

Try a Google on (Brokers, Finance Houses, Vehicle Management Companies & Alliances)

it could help answer a few Q's!! I'm sure there's one which you can take Advantage of!!!