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  • FIRST POST
    • Ann S
    • By Ann S 10th Jul 18, 2:01 PM
    • 1Posts
    • 0Thanks
    Ann S
    Loan or lease?
    • #1
    • 10th Jul 18, 2:01 PM
    Loan or lease? 10th Jul 18 at 2:01 PM
    Hi my 25 year old daughter has just passed her driving test and doesn't know whether to get a car through a bank loan or lease it from the car company - does anyone know which is best and most affordable? Thanks!
Page 1
    • zx81
    • By zx81 10th Jul 18, 2:05 PM
    • 18,602 Posts
    • 19,859 Thanks
    zx81
    • #2
    • 10th Jul 18, 2:05 PM
    • #2
    • 10th Jul 18, 2:05 PM
    As small a loan as possible. Preferably just use her savings.
    • DCFC79
    • By DCFC79 10th Jul 18, 2:17 PM
    • 32,555 Posts
    • 20,486 Thanks
    DCFC79
    • #3
    • 10th Jul 18, 2:17 PM
    • #3
    • 10th Jul 18, 2:17 PM
    Is she working ?
    The expense that's coupled with owning a car must be saved up somewhere.
    • foxy-stoat
    • By foxy-stoat 10th Jul 18, 2:21 PM
    • 2,661 Posts
    • 1,532 Thanks
    foxy-stoat
    • #4
    • 10th Jul 18, 2:21 PM
    • #4
    • 10th Jul 18, 2:21 PM
    How much money did she have left over 1 day before pay day? That should give her an indication how much she can spend on the loan, fuel, VED, insurance, repairs.

    Dont lease - thats all I can say.
    • chelseablue
    • By chelseablue 10th Jul 18, 2:46 PM
    • 2,563 Posts
    • 2,994 Thanks
    chelseablue
    • #5
    • 10th Jul 18, 2:46 PM
    • #5
    • 10th Jul 18, 2:46 PM
    I've had both, wouldn't get a lease car again!

    Bear in mind that when you first pass insurance is very expensive. My husband passed when he was 24 and his first year was 1,200 and that was on some crappy old car
    Mortgage starting balance 231,000
    Mortgage after Year 1 225,000
    Mortgage after Year 2 218,000
    • foxy-stoat
    • By foxy-stoat 10th Jul 18, 3:05 PM
    • 2,661 Posts
    • 1,532 Thanks
    foxy-stoat
    • #6
    • 10th Jul 18, 3:05 PM
    • #6
    • 10th Jul 18, 3:05 PM
    I've had both, wouldn't get a lease car again!

    Bear in mind that when you first pass insurance is very expensive. My husband passed when he was 24 and his first year was 1,200 and that was on some crappy old car
    Originally posted by chelseablue
    Thats considered cheap these days for young drivers, bet if he bought an old saloon with a big engine it would of been cheaper than a brand new Panda
    • jonesMUFCforever
    • By jonesMUFCforever 10th Jul 18, 7:18 PM
    • 25,181 Posts
    • 12,434 Thanks
    jonesMUFCforever
    • #7
    • 10th Jul 18, 7:18 PM
    • #7
    • 10th Jul 18, 7:18 PM
    Lease - only if somebody else pays ie an employer otherwise pay x per month for y months then have nothing to show for it (IMO anyway).
    What goes around - comes around
    give lots and you will always receive lots
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