To ask you about car lease schemes?

[Distractotron]

Posting for traffic, obvs.
I have a ten year-old car that has cost me over a grand in the last year for various repairs. This possibly won't be the case next year though - the timing belt snapped and the DPF had to be removed and cleaned (according to DP this was because I drive like an old lady don't rev it enough!).
Colleagues are urging me to part exchange my car for a nice new lease one. I'm on a somewhat limited budget, as I drive about 18000 miles a year and spend a lot of my monthly money on fuel.
Any views, experiences, ideas welcomed!

That's a lot of miles - if you're pricing up leases, make sure that it includes the right number of miles for you, because they'll charge you per mile for going over your annual allowance at fairly exorbitant rates.

Thanks 😊I had thought about that. The little research I've done has indicated I'd be paying a lot for that mileage.

(Just reread that and it sounds sarcastic?! - it wasn't intended that way!).

It's unlikely to be worth it with that mileage. The best deals are for around 8,000 miles a year.

Really, the most economic option is always to get an old car for peanuts and run it into the ground. You pay heavily for the privilege of driving a new or nearly-new car.

To clarify, I mean buy an old car and the moment it needs £1,000 of repairs you scrap it and get another old car.

OP I had a lease car doing that sort of mileage and it cost more than when we owned our own. We've not leased a car since. Car leasing is not really an option if you do a lot of miles IMO.

Daily that's basically what we are doing now.

It depends on your budget really. I have a car on PCP with a 25k a year mileage allowance for £300 a month which isn't bad. I have never done straightforward leasing though.

Because I commute long distances I wanted something reliable and with greater fuel economy which my old car wasn't so to me it's worth it.

OP, have a look at:

www.honestjohn.co.uk/cheap-car-finance-advice/

Thanks for the replies! I think it's too expensive an option for me. But I have some good answers for my colleagues now!