Buy a car or lease a car ??

[trueblue]

A mate of mine has leased for years and likes it. Certainly, it allows you to have a better car than you would probably ever get otherwise and change it frequently.

There are not always tax benefits though. For me, it's still advantageous to buy outright and claim mileage (according to my accountant anyway). I've always bought low mileage cars at around a year old and enjoyed the feeling of saving thousands on the original OTR price. If you have money to buy outright, you can drive a very hard bargain.

 

[willow147]

Cannot say as I have only ever purchased second hand but colleagues at work have used lingscars.com and would recommend

No idea if they're any good but hopefully must be better than that awful website.

 

[narly101]

something which has cost you interest on the loan and depreciated in value considerably.

personally, i go for buy an older car that doesnt cost too much route. the economics of new cars are eyewatering.

This with bells on. Cars are no longer the rust traps they used to be, or fall apart after a few years. lots of decent 2nd hand cars out there for very little outlay.

 

[upthealbion1970]

Chuffed to bits with our motor on motability, certainly worth every penny of the £52 a week it costs. Motability is I believe the 3rd largest fleet in the country.

 

[Garage_Doors]

Hate the idea of renting, always buy.

 

[kingcole]

A mate of mine has leased for years and likes it. Certainly, it allows you to have a better car than you would probably ever get otherwise and change it frequently.

There are not always tax benefits though. For me, it's still advantageous to buy outright and claim mileage (according to my accountant anyway). I've always bought low mileage cars at around a year old and enjoyed the feeling of saving thousands on the original OTR price. If you have money to buy outright, you can drive a very hard bargain.

Car dealer mate of mine says the opposite, due to the fact the garages make so much on introducing the finance.

If you are buying privately, you may have a point.

Test it for yourself. Go to a garage and ask for the best price for cash. Then say, how about if I took your finance? Chances are the purchase price will be lowered to make all the figures look right. If this happens. Turn up the day before you collect it and say 'don't need the loan any more, here's the dosh'

Not a thing they can do!

 

[kingcole]

Hate the idea of renting, always buy.

Buy what appreciates, lease what depreciates (including planes, boats, cars and women!)

 

[symyjym]

Been pondering this question for a while and done some research on Internet but still don't know which way to go with pro's and cons on both sides,so I thought I would ask the good people if NSC there experience of leading (but not as a business lease)
Cheers

What car are you after?

 

[16 bit 44.1]

I have leased for 6 years. Two Audi A3's and currently a Peugeot RCZ. If you are totally flexible on the car you want then there are some great deals to be done. If you have a specific car in mind then it is not always the best route to go down but if you are flexible you can find some very good deals.

Best deals to be had are at the end of every quarter but most importantly once every few months you will see a make and model that has it prices completly slashed. For example just after they launched the new VW Beetles you could pick up a brand new one on a two year deal for £400 and 24 months at £160 incl VAT. Now they are way more than that.

Currently the big deals seem to be on Audi TT's. i dont know why and frankly I don't care but my advice is to see what cars are on the best premium deals at the time and under no circumstances be loyal to one leasing company. The deals seem to be spread all over the place.

A good website for seeing what is about is http://www.contracthireandleasing.com

If you get a car on at two year deal for say 10K PA chances are you will never have to service it or replace the tyres. If you really want to ensure you have no expenditure at all get Smart / Alloy Wheel Insurance too so unless you take it rallying you've got fixed price motoring and you don't end up with anything at the end of it because why would you want to . Car's are not houses. It will never make you money back unless its a classic. They are a neccessary liability! So finance what you use and give the rest back for someone else to worry about.