Lease or buy car? How much is yours?

[minimouse456]

Thinking about leasing a car. How much does yours cost per month and do you think it is a good deal? Thank you

Also how much was your upfront payment and how many miles are you allowed to do?

I looked into it and bought my last couple of cars cash

I’ve always leased my cars. At the moment I’m paying £159 a month that includes 3 services and the first MOT. I think I can do up to 6000 miles a year but I only ever do between 3-4000. I can’t remember what the deposit was, quite possibly was £159 it’s a 4 year contract so we’ve got it until next year then we can hand it back and start again. I think it’s a good deal.

I buy mine. Usually something nearly new, but the last one was 2 years old with 35k on the clock.

I lease directly from Manufacturer, currently pay £139 a month ago. No upfront payment, pay for any damages over £300 on return after 12 months.

We always buy used, 2-4 year old cars with a good maintenance track record (some models are still under warranty at that point), and we always pay cash. They last ages without issues as long as you go with a reliable make/model and the previous owner will have taken the major depreciation hit.

Leasing would never work for us as we put beaucoup miles on our cars--we have 3 kids and do a lot of continental road trips.

@Linnet and @ifoundthebread do you mind if I ask what make and model?

Thanks everyone.

Leasing is maybe best for people who do lowish miles.

I am reluctant to buy a 2-4 year old car again as I have had bad luck with them. I would look something new or a year old.

@ifoundthebread what sort of car is it? What was the upfront payment? Is it leased or pcp (where you can buy it at the end)?

This time I have a Kia Rio in the past I’ve had Fiat Puntos.

It is leased from Nissan, I have a 2018 quashqi. No upfront Payment but that is due to my father working there, get 12k milage allowance a year. Will get a 2019
Quashqi come June when this lease is up.

Thank you

I've looked at it. Leasing (seems to me) to be worthwhile if you want an expensive car. The cost over say 2 or 3 years is similar to the value you'd lose over the same period if you bought. If you want a little hatchback / runaround, it doesn't make sense financially as you'd be able to buy it outright for the money you'd spend on leasing.

Place marking as dd considering this and if I manage (hopefully) to get out of my housebound bollocks I may be able to drive again too.

We buy ten year old cars outright and run them into the ground. Our current car cost £4k and we have had it 4 years. I can't see how leasing is good value.

We only ever lease our cars because the maintenance cost of them is ridiculous
We get them fully maintained.
I have an Audi A6 avante and it's 430 a month
My next car has been delayed but it was meant to arrive in November.. it's coming in April and will be 230 a month fully maintained which is an Arteon r line

Get it maintained and insist on 3 upfront no more then that.

All of our friends who buy cars have nothing but issues

I buy outright.
I’m paying £250 a month including services. Then after 3 years are up I’ll run it for another 3 years or so costing me nothing. I’ll put that money into the mortgage instead.

@KanielOutis yes but that's cost you £83 a month plus services and maintenance etc

I lease because I'm not bothered about owning my car, I have peace of mind that everything is done through one company and if there is any issues with the car then its not my problem, ring a number and they sort it out. I get a nice shiney new car every year / 18 months, all I have to do is add the fuel.

We also buy 3-6 year old for cash, and run them forever. It's far cheaper than leasing. Last car was almost 8K, but we had it almost 12 years, very cheap to run no major spend on any parts, sold it for almost 2K, I'd estimate total average cost incl tyres, parts, MOT, insurance, per month as not much more than £100.
Maintenance is minimal parts only (and at trade prices - tip, make up a letterhead and take in a purchase order, ask for trade price) as OH does the servicing and we take it in for anything beyond that (he doesn't like working on cars, too small and too near the ground).
Mind you one of our cars barely does 2-3K between MOTs, so not exactly getting the wear and tear! All vehicles are presented thoroughly clean and tidy inside & out & underneath, and are well known for looking immaculate in our MOT garage, we rarely have issues.

I've done both but now lease; I prefer to have a new car without having to worry about hints going wrong & costing a fortune . Currently have a VW Polo high spec £140 pcm over 3 yrs. can do 10000 miles pa. I can't remember whether I put down 3 or 6 mths deposit. Would recommend leasing.

"I lease because I'm not bothered about owning my car, I have peace of mind that everything is done through one company and if there is any issues with the car then its not my problem, ring a number and they sort it out." That's what really appeals to me!

Leasing (seems to me) to be worthwhile if you want an expensive car. The cost over say 2 or 3 years is similar to the value you'd lose over the same period if you bought. If you want a little hatchback / runaround, it doesn't make sense financially as you'd be able to buy it outright for the money you'd spend on leasing.

This. I like a high spec car, I like a fairly new car as experience has shown me that once a car hits 4-5 years old the maintenance cost accelerates. For our main car we lease for about £280 a month for a high spec, premium brand, auto, all bells and whistles car.

DS turns 17 next year and we will be buying him a car but are buying a 6/7 year old basic run around and will buy that for cash, leasing doesn’t make sense

We buy - we have a dog and drive over £10k a year. After three years we owned our car (£5k deposit,£280/ month).

have a 2018 quashqi. No upfront Payment but that is due to my father working there, get 12k milage allowance a year.

Will get a 2019
Quashqi come June when this lease is up.

You renew your lease annually?

I paid mine on 3 credit cards, that way I can pay it off interest free using balance transfer and the car is still mine, not the company's.