I've been looking at used cars and stumbled across personal leasing. I was looking to spend circa £400pm HP on a 4 year old vehicle but through personal leasing can get a brand new model for the same money with enough miles on the contract to work for me.
Obviously the main attraction is having a brand new motor for the same price as an older one, but a couple of things concern me.
I'm fine with keeping a car til the end of the contract - but what if personal hire falls out of favour in the next few years, or new cars become unaffordable and I'm left with no car and no deposit?
I've always had a few grand deposit from trading in, but this would remove that safety net.
What do other people do?