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New car.. which option

7 replies

RokaRokaRoka · 27/12/2024 08:00

We are looking at getting a new car (when I say new I mean new to us)
Options are buy a car on finance or lease one.. we are just starting to look at these so I'd love to have some opinions to help us decide as I'm for and against both options but just not sure which would be best. I think my only point is that we don't want to waste money and that the most cost effective option is the one we want!
But both ways have their positives and I can't see the wood for the trees as it were so any advice would be welcomed

OP posts:
RokaRokaRoka · 27/12/2024 21:26

Anyone?

OP posts:
WhatIDoIsEnough · 27/12/2024 21:29

Would a bank loan work out cheaper it did for us

noobiedoobie · 27/12/2024 21:30

Getting a loan may be better than finance. Is that an option? I think some dealers may do a better deal if you choose finance but they aren't necessarily the best deals iyswim.

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RokaRokaRoka · 28/12/2024 16:24

Yes possibly

OP posts:
jackstini · 28/12/2024 16:28

How long do you plan to keep the car for?

We used to work out the total cost over that period - say 3 or 4 years

So lease costs vs estimated depreciation
Take into account tax, servicing etc.

Then just go with the cheapest option

Shade17 · 28/12/2024 16:29

Leases are generally brand new cars

pandapopadance · 28/12/2024 16:36

Id lease. You get a new car and can include servicing, tax and tyres so know where you stand each month. Put a little bit extra away each month to save for the next deposit.

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