Leasing a car

[HavePatience]

What are the benefits to leasing a car (personal, not business use) rather than purchasing one? I own a(n old) car now but repairs every MoT and in between cost so much!
Is insurance included in lease?
How much does it usually cost?
Could I lease a used car?
I own my home (mortgage) and prefer that to renting but not sure I feel the same about cars.
Any advice appreciated :)

In my case - and it's a car I use for business - the insurance is not included in the lease cost, that's something I arrange personally. The cost depends on the make, model, length of lease and the service arrangements. I've never leased a used car so don't know if that's an option. Have you looked at these new car deals where you get the vehicle on an HP arrangement and then trade it in for a new one after a particular length of time? New cars don't need an MOT, the servicing is minimal and they don't usually require much in the way of repairs.

Thanks HP arrangement? What is that?

The Hire Purchase arrangement I'm thinking of is called a Personal Contract Purchase Plan (PCP). You agree to pay for the use of the car for a fixed period at the end of which you can either buy the car or trade it in for a new one. Worth looking into.

Thanks so much! I'm looking into that now. What I wonder is, what if after using the car for the term, you decide to buy a used car - could I give the new car back or does it always have to be purchasing it or trading in for another PCP new one? Just trying to figure out if the 'catch' is that you're stuck with purchasing a new car in the end, regardless.

You can't just give it back, as I understand. But if you buy it at the end of the agreement and sell it straight away I would hope that you'd finish up close to breaking even, or at least not losing too much money. Then you're back to square one. Probably best to ask a car dealer how the resale values and final balance usually compare.

I have one of these PCP agreements. I pay a certain amount per month, then at the end of 3 years they give you a guaranteed minimum amount the car is worth which covers the rest of the outstanding loan. You can either give the car back, with nothing to pay ( and perhaps getting a small amount of money) or swap it for a new PCP agreement. You aren't stuck with that particular dealer, if you traded it in for anther car at another dealer, then it would just be the same as any car with outstanding finance.
The main disadvantage is that to get the minimum amount the car needs to have been serviced and kept in good condition. There is often an agreed yearly mileage of 10,000 miles and the guaranteed amount the car is worth would go down if you exceed that.
As I only do about 3,500 miles per year, I'm hoping it will work in my advantage.
I also looked at leasing privately and these seemed the cheaper option.

Would it be too nosey to ask how much per month you pay?

I had a PCP car plan, on a Mazda. When I got the car, the value if I'd bought it was around £14,00. I was paying £187 a month. At the end of 3 years I could either give it back and walk away, I could pay the rest of the finance in a lump sum, or I could swap it for a new car and start the 3 years again.

I decided to get rid of the car partway through the term, I rang up and they said I could give the car back and pay (around) £1000 to them, or i could pay £7000 and keep the car. I went to a dealership and they offered me about £8000 to buy it, so I sold it to the dealership, paid the finance off and pocketed £1000!

I loved the arrangement, but decided when I got pregnant that I needed a bigger car and didn't want the expense of the lease every month any more.