Car leasing

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If it goes up in value, buy it. If it goes down, lease it. Unless you feel better being an 'owner'.

Or do bangernomics
 


I've always bought cars a few year old on finance and a few year later part exchanged them. Never once have I made money doong this. The old finance gets cleared and a new one put in place. Thencthe cycle starts again. Selling privately is a pain so I avoid that. Can't be chewed with people coming to haggle for a few hundred quid more than the garage offers.

If I lease I'll have a brand new car, no worries about repairs, no hassle at the end of the term. It costs the same in monthly payments as buying a car and I'll only be liable for the depreciation costs.

Can someone tell me what the catch is. Leasing seems the way forward for me.
 
HANDSOME_DAN said:
Not always easier than doing a conventional p-ex as your lease deal would end on a specific date and your new car can be delayed, sometimes by months. If you are doing a p-ex you just hang on to your current car until the dealer has the new one. With a lease company you could have a gap with no car to use.
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My lass (no again) just went over onto lease deal as the last PCP deal left her in £2k of negative equity....Thankfully had paid more than half the payments so was able to just hand it back and wipe the negative equity.....As she replaces them every 3 years will be sticking to leasing from now on.

I on the other hand refuse to buy a new car although currently got my newest one ever (4 years old when bought it)....2 years later all paid off, in cracking condition and other than repairs servicing will cost me nowt for years to come.
 
safcsafc said:
I've always bought cars a few year old on finance and a few year later part exchanged them. Never once have I made money doong this. The old finance gets cleared and a new one put in place. Thencthe cycle starts again. Selling privately is a pain so I avoid that. Can't be chewed with people coming to haggle for a few hundred quid more than the garage offers.

If I lease I'll have a brand new car, no worries about repairs, no hassle at the end of the term. It costs the same in monthly payments as buying a car and I'll only be liable for the depreciation costs.

Can someone tell me what the catch is. Leasing seems the way forward for me.
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The car salesman will be along in a minute to tell you.

As with most things, if you are happy with the price, crack on. Car's are a money pit no matter which way you look at it.
 
safcsafc said:
I've always bought cars a few year old on finance and a few year later part exchanged them. Never once have I made money doong this. The old finance gets cleared and a new one put in place. Thencthe cycle starts again. Selling privately is a pain so I avoid that. Can't be chewed with people coming to haggle for a few hundred quid more than the garage offers.

If I lease I'll have a brand new car, no worries about repairs, no hassle at the end of the term. It costs the same in monthly payments as buying a car and I'll only be liable for the depreciation costs.

Can someone tell me what the catch is. Leasing seems the way forward for me.
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I had done the same until work started doing a salary sacrifice lease car scheme. Did that but now they have become too expensive so I went to main dealer and did it myself.

I have just ordered new one to be delivered in December and in comparison to loan, HP, PCP i am saving a fortune by leasing
 
foggy said:
If it goes up in value, buy it. If it goes down, lease it. Unless you feel better being an 'owner'.

Or do bangernomics
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It depends what is better value. A lease by default isn't always better value for everyone and every circumstance. Buying could mean you pay out less per month net, or it may not.
 
foggy said:
Which is the same as the (top) reply on HUKD on this deal. Best one I've seen to the usual lease deal detractors. Was that you?
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Wasn't me mate, but I had read it and they're spot on IMO. It's not for me, for various reasons, but I don't think it's necessarily false economy. What it does do, as someone has already said, is bring high end cars in reach of people on very low wages. There will be people on minimum wage driving Audi A6s.

HANDSOME_DAN said:
It is. But 35k isn't what it's really worth, the dealer would slash loads off Rrp and a 6 month old one would be about 25k. The lease offer is an offer and rarely directly compareable to Rrp
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How much would you be able to get that car for then, brand new, same spec?
 
AndrewP said:
Wasn't me mate, but I had read it and they're spot on IMO. It's not for me, for various reasons, but I don't think it's necessarily false economy. What it does do, as someone has already said, is bring high end cars in reach of people on very low wages. There will be people on minimum wage driving Audi A6s.



How much would you be able to get that car for then, brand new, same spec?
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It's an outgoing model with crap spec if you shopped around I'd be surprised if you had to pay above 28k if you took Audi hp which you could pay off in full a week later
 
foggy said:
If it goes up in value, buy it. If it goes down, lease it. Unless you feel better being an 'owner'.
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As a rule of thumb, this is nonsense.

If its cheaper to buy then sell, then do that.
If its cheaper to rent, then do that.
Otherwise, if the difference is enough that other conveniences are worth it, then do that

Don't blindly expect anyone to make it easy for you.
 
HANDSOME_DAN said:
It depends what is better value. A lease by default isn't always better value for everyone and every circumstance. Buying could mean you pay out less per month net, or it may not.
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Yep, there are lots of factors involved but every now and again there are some cracking deals on leases due to oversupply/just needing to get shot.
 
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