Lease or buy new car?

[Baling Hay]

I am changing the motor and am considering leasing a car instead of buying one.

What are people's thoughts of this?

https://www.nationwidevehiclecontracts.co.uk/hot-leasing-offers

 

[nelly55]

Once leased a tractor,never again I like to own things.I had paid out for three years only to watch it go down the drive and have nothing left.With cars etc now having warranty for a number of years does leasing look expensive.

 

[Pieces_of_Eight]

Assuming you are VAT registered?

 

[Skimmer]

Its personnel preference, I know some who lease everything for me its buy.

 

[Derrick Hughes]

2 year lease ,

 

[Baling Hay]

Assuming you are VAT registered?

No, it's for personal use.

 

[Derrick Hughes]

No, it's for personal use.

If you do a percentage business you can claim a percentage back

 

[liammogs]

All depends on your anual milage, plus what you going to be using if for towing etc?

 

[Exfarmer]

If you buy it , you will buy what you can afford, if you lease it, you will pay what you can but after 3 years it will go back and you have nothing.

 

[joe soapy]

A mate is kicking his self, he has just got a very tidy 306 HDI turbo. paid £200 then £60 to mot, few days later was offered one with less miles and with mot for £100

 

[Turra farmer]

Pcp , is the next financial scandal

It's a total rip off , read and understand the small print ,

Buy , If you can't or don't want to buy new , buy 2nd hand

 

[Grain Buyer]

Pcp , is the next financial scandal

It's a total rip off ,

what do you mean by this? such a bold statement deserves an explanation.

 

[Turra farmer]

Miss selling , in a similar way to loan insurance , or endowment mortgages

No one reads the small print , and salesmen aren't going to point it out

 

[GTB]

If you're the type to change your car every three years or whatever you may as well lease, but if you buy it's yours to do whatever you want with it. It's nice to be able to run them finance free for a few years after the finance term has ended sometimes. That's cheap motoring. Even cheaper if you buy them at 18/24 months at half the price of new.

 

[Grassman]

Miss selling , in a similar way to loan insurance , or endowment mortgages

No one reads the small print , and salesmen aren't going to point it out

What exactly are people not understanding?

 

[Turra farmer]

What exactly are people not understanding?

People are signing up to pcp plans based on really low annual mileage , not knowing that there is additional charges for extra miles, charges for minor scratches, dents , responsibilities to maintain ,

Everyone to their own, if I can't afford it I don't buy it ,

 

[Sussex Martin]

My daughter is on her second Mercedes on lease direct from Mercedes, if you add all the payments they don't cover the depreciation if they were bought, don't know how they can do it. My daughter is rather sharp and when discussing her needs at the local dealer she ensures she comes across as rather disinterested, seems to work for her.

 

[Chae1]

Hire cars you mean? Pay your yearly fee for 3 years then hand them back. Let's you run a car you can't afford to buy.

Not for me but each to there own.

I prefer to buy them after they've been handed back.

 

[Headless chicken]

Agreed it's a means of having something beyond your means. I seriously considered it when the wife's car started to play up but managed to sort it.

We run 2 cars in the household and I suspect next time one is due for renewal we will revisit leasing on one of them. Would terrify me if it were on both

 

[Turra farmer]

My daughter is on her second Mercedes on lease direct from Mercedes, if you add all the payments they don't cover the depreciation if they were bought, don't know how they can do it. My daughter is rather sharp and when discussing her needs at the local dealer she ensures she comes across as rather disinterested, seems to work for her.

The list price isn't normally what you would pay when buying a car , but it's the price salesman will use to show you how great the pcp plans are ,
It's a struggle to get an outright purchase price out of the salesman , it's always " how much do you want to spend each month "