Any experience of car leasing?

[SoniaShoe]

Has anyone done it or regret it? Or the opposite?

I'm about to sign a lease for the first time and I feel nervous about paying for something for 3 years that I'll never own.

Any nuggets of wisdom gratefully received.

DH has done so for the last 7/8 years, after buying a new VW that was a money pit ..... the turbo went at the cost of around £7k literally weeks after the 3 year warranty ran out, and it had nothing but major engine problems. So he now does a 3 year lease, gets a new car each time and if there are issues with it, it's replaced with a hire car and dealt with. He's currently got a RR that he's loving, but already looking over his shoulder for the next! I've also got my Mini Cooper S on lease. We've not decided whether or not we will keep it at the end of the 3 years or swap for another.

A new car is reliable, only needs servicing once every 20k miles, and all you use is fuel and perhaps one set of tyres during the lease. It's a no brainer for us.

Thanks tom that's good to hear

Placemarking because I'm in the same situation and considering leasing my next car

Hi ubercorns , no other advice it seems.

I think I've decided to go for it and will be signing on the dotted line tomorrow but it's a bit nerve wracking to make that 3 year commitment.

We always lease our cars. It’s not like houses, cars are never going to be a good investment in terms of property- they nosedive in value so it doesn’t make a difference whether you technically own it or not.

We just see it as it costs £xxx a month to have a new/newish car. It’s just an expense that comes out of our budget, same as anything else. Then at the end of the three years we hand it back and get something else. Easy.

@flowery That makes perfect sense to me, but I think I need to change my mindset. I'm just not used to money going out every month on a car -though that has happened a lot recently since fil gave me his old car but failed to mention the problems it has-

We find we use a lot less fuel having newer cars. Insurance is less, car tax less, no wear and tear other than routine servicing and no horrific MOT bills. My old car did around 28mpg, my new one does double that.