Lease cars....

[Stressballs]

Lots of people I know seem to drive around in high end cars which are disproportionate to their earnings and every few years they seem to be upgrading to an even bigger/better car. DP and I are car hunting at the moment and I mentioned to DP that I had always been rather intrigued as to how other people earning far less than us managed to afford these executive cars (when we are driving around in a modest little hatchback!) and DP was saying that barely anyone actually buys cars anywmore and they all lease them instead. Not sure where I’ve been but I had no idea!

Is it really that common now?! I’m struggling to see what the financial benefit is as surely since you never own the car it’s an endless cycle of monthly fees to be left with nothing at the end and having to do it all over again. Or perhaps it’s just for the staus of having a showy car. Am I missing something?!

Finance company will buy the cars much cheaper than you or I can do the depreciation will be different compared to walking in to a dealership.

I lease an electric car. With technology changing so fast and newer models offering more, I didn't think it was worth buying in terms of depreciation. Also I obviously pay no fuel or tax and where I work, electric cars pay £10 a year parking instead of £100s so it works for me.

I'm still not clear whether @glintandglide is just being pedantic or trying to make an actual point.

My husband and I always say you can spot the wealthy people as they have older cars that they have kept for years. The show ponies are all driving around in top spec cars (we are in the show pony camp btw!!).

My husband and I always say you can spot the wealthy people as they have older cars that they have kept for years.

Last time we visited Palm Beach that was true - people had kept up their old Rollers and Bentleys very nicely

@ZenNudist thank you, my dads my accountant so i let him sort all that :). I personally dont have a clue