Anyone know pros and cons of leasing a car

[TracyK]

dh is going to get a car allowance - should he buy or lease. He'll be doing a lot of business miles.

TracyK - Leasing definitely better! Costs you less..... and every year or so you can just hand it back and lease a new one!

My friend has just done this. It made so much sense, its not like you will ever make any money from owning a car..... they depreciate so quickly!!

LEASE LEASE LEASE!

Thanks Fangache - where do I start looking for a good deal - garages? internet? banks?

My friend is getting hers through a deal with Bank of Scotland (Halifax).

But search on the internet. I think people are catching onto this more and more now. I mean why get yourself tied into a finance deal which you will no doubt lose money from when you sell the car?! Which is what we've done.

Try here

My DH has a car allowance and leases a car with a maintenance contract (ie his servicing etc is all paid for too) on a 3 year basis. For us it made sense because at the end of the period you are offered the chance to buy the car at a price agreed at the beginning of the term. DH and I have been watching the prices of our particular car and are pretty confident that we can buy the car for the agreed price and then sell it on at a profit of around £3-£4k. Or we can hand it back and take up another contract.

The only thing he needs to be careful about it being honest about his mileage, the price will go up with increased mileage BUT if he lies and says he'll only do 20k a year to get a lower price and then ends up doing 30k, he will get penalised per mile over the agreed limit. The bill can be pretty damn high !

is being honest, not 'it'. DOH

What car did he go for NDP?