Lease or buy new car?

[Derrick Hughes]

Depends how long you keep your truck .depreciation in the first two years will be your hire cost as they depreciate fast

 

[Alf]

I found reading this thread very interesting , as I was in the process of looking for a new truck . So I have read the thread from start to finish twice .
Its always educational to see others views . My understanding with it all is . Very little difference in renting or leasing as it called to buying . I can see leasing is of advantage ,as it saves capital going out in one lump .
I still couldn't get my head around having to return the truck after its lease period, with nothing at the end . So I wrote the check and paid for it . I do some how think renting / leasing may have been more tax efficient but did little for my psychological .

So I have a shiny new motor coming and my Jeep grand cherokee 2008 is to sell if anyone needs such a thing . I have never kept a motor as long , I just love that old jeep . Its been the best truck I have ever had . If I could have claimed tax relief on a new jeep I would have replaced it for the same again .

 

[Drillman]

You can also claim the VAT back as it's a commercial vehicle. If it was a car you couldn't. That's the real difference.this thread stated about getting a new car. As they say let's compare eggs with eggs.
You've also thrown cash at it, which is now not available for other things in the business.

Yes I wanted to throw cash at it as then I could clear the finance in a shorter period leaving me free to change something else if needs be.

We have a system 3 items on no more than 3 years finance. Usually change something every year. If we need something extra we either write a cheque out for it or if we can't afford it we manage without till we can.

Works for us.

 

[kiwi pom]

Its just like Tractors there lots of ££££ new but 3yrs later there ni on half there value.
Why do Cars have to loose 50% of there Value in 3years ? who came up with this the Car Cartells?
My 3yr old just past Car which i bought at 9months old & wait for it hasnt clocked 17,000miles yet.
should be worth far more... but on paper its possibly worth £400 than the same model etc etc thats clocked 50k or 60k
wheres the logic in that ?

Its because everyone's convinced themselves that their car will explode into a million bits when its 3 years old and out of warranty and of course they don't want to be seen in such an old car.
So they trade for a new one, the dealer wants the new sale but not the trade in as he just got a job lot of cheap ex lease cars in. so he offers half the new price. Convinced their car will now only be worth a tenner next week a deal is quickly done narrowly averting disaster and ensuring they've kept up with the jones's.

Keep your car its not run in yet, its value is only important when you actually sell it.

 

[Derrick Hughes]

Its because everyone's convinced themselves that their car will explode into a million bits when its 3 years old and out of warranty and of course they don't want to be seen in such an old car.
So they trade for a new one, the dealer wants the new sale but not the trade in as he just got a job lot of cheap ex lease cars in. so he offers half the new price. Convinced their car will now only be worth a tenner next week a deal is quickly done narrowly averting disaster and ensuring they've kept up with the jones's.

Keep your car its not run in yet, its value is only important when you actually sell it.

I just sold my BMW for £800

 

[Farma Parma]

Its because everyone's convinced themselves that their car will explode into a million bits when its 3 years old and out of warranty and of course they don't want to be seen in such an old car.
So they trade for a new one, the dealer wants the new sale but not the trade in as he just got a job lot of cheap ex lease cars in. so he offers half the new price. Convinced their car will now only be worth a tenner next week a deal is quickly done narrowly averting disaster and ensuring they've kept up with the jones's.

Keep your car its not run in yet, its value is only important when you actually sell it.

Its going nowhere m8 ive been n done all this before.
Leasing anything is of no benefit to me.
Bought the Car with CASH outright, sold my 10yr old one privately.
And as for PCP & whatever else there called they can shove all of them where the monkey put his

 

[Farma Parma]

I'll take the depreciation coz i dont change vehicles that often here cant see the point.
We have a 14yr old Vitara that never gives us much bother does 2000/3000miles a year but will go anywhere about the place
biggest gripe is its £270 roadtax. its only got a 2lt Pug HDI engine in......FFS
Thankfully the eco TDI Car is only £20 so it levels itself out. iam the only one who drives both.
Neither sit outside & i think thats the biggest life preserver. Sometimes my car might never move for a month in the middle of harvest.
Id have a Pickup but just dont really have the use to justify the outlay.
when the vitara dies that's what i'll poss do then at least get the VAT bk on that one.
It most cert wont be a new one but sumfink low mileage & under 3years old at sensible ££
Then like the rest run it till it drops.

 

[icanshootwell]

I just sold my BMW for £800

3 years old was it !!! with the amount of miles you do