second hand car or new lease car

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The soap powder said:
So what is peoples opinion ?

New lease car from work meaning a very low tax code and paying £350 from my wage each month but a nice new shiny car that is covered for any break downs,tyres etc

or

Pay about £2500-£3000 for a second hand car and have all own maintanence and insurance to pay for but would be better off each month by about £350

opinions welcome even stupid ones
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What car you getting? A Merc or summit???
 


It's purely personal choice.

I get a 10k loan every 3 year and with that plus current car value that's my budget for next one.

Its crackers as I end up with a 2 or 3 year old Golf GTI or something whereas if I put it into a lease, as a comparison car for car, I'd get a brand new Golf R for my same monthly outlay.

But for whatever reason I prefer to own.

Revising my plan this time though as I'm getting stung for the timing belt change every single time and last weeks service + timing belt + MOT + a few running repairs was the last straw. :cry:

Poor lass taking the payment at the dealers must of thought I was going to attack her with an axe. I had a right fyace on me.

But joking aside, these are the types of things to take into consideration.
 
Zidane said:
It's purely personal choice.

I get a 10k loan every 3 year and with that plus current car value that's my budget for next one.

Its crackers as I end up with a 2 or 3 year old Golf GTI or something whereas if I put it into a lease, as a comparison car for car, I'd get a brand new Golf R for my same monthly outlay.

But for whatever reason I prefer to own.

Revising my plan this time though as I'm getting stung for the timing belt change every single time and last weeks service + timing belt + MOT + a few running repairs was the last straw. :cry:

Poor lass taking the payment at the dealers must of thought I was going to attack her with an axe. I had a right fyace on me.

But joking aside, these are the types of things to take into consideration.
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Dealers always take your eyes out.
 
peil said:
Nah, had a similar scheme at my old place.
The take the full lease cost off your gross pay, so you pay BIK on the tax you've dodged PLUS you get bilked for a high lease cost as well.

Knew a lad who was paying £420 p.m. after tax for a Volvo, insurance and servicing all included. Silly shite could barely afford the fuel to get him into work
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Sounds absolutely shite!!

Jasper said:
Why would he want to own a depreciating asset?
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Easy now Warren Buffett.

When you lease, you don’t own it, but you are contractually committed to pay the depreciation on someone else’s asset. As leases are usually new cars that depreciation that you pay indirectly is usually more than if you bought something 1-2 year old that has already taken a big knock.
 
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yamar1 said:
To have a car he owns at the end of the loan id imagine. Or take the work car deal, hand it in after 3 years and have nothing to show for all the money.
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He’d have had three years of driving a brand new car to show for it.

Or he could pay a loan on a cheaper car and own something worth next to now anyway to show for it.
 
HANDSOME_DAN said:
Sounds absolutely shite!!



Easy now Warren Buffett.

When you lease, you don’t own it, but you are contractually committed to pay the depreciation on someone else’s asset. As leases are usually new cars that depreciation that you pay indirectly is usually more than if you bought something 1-2 year old that has already taken a big knock.
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Whatever way you look at it, a car (unless a classic) is a depreciating asset. So basically get whatever gets you what you need for the least amount of money over the period.

I agree I prefer to buy a nearly new car over a brand new car. But a nearly new wasn’t one of his options either mind.
 
Jasper said:
Whatever way you look at it, a car (unless a classic) is a depreciating asset. So basically get whatever gets you what you need for the least amount of money over the period.

I agree I prefer to buy a nearly new car over a brand new car. But a nearly new wasn’t one of his options either mind.
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Agree jaspy
 
Goat Eyes said:
How do you know the boards most prominent poster and all round lovely bloke. Probably the most handsome person to ever grace these boards too?

Well we have been close for a while now and he is every one of those things

You are Mux’s alter ego you big headed buffoon. :lol:
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Haha nah he doesn’t need one of those
 
Jasper said:
He’d have had three years of driving a brand new car to show for it.

Or he could pay a loan on a cheaper car and own something worth next to now anyway to show for it.
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depends what he buys doesent it. the loan car will always have a value and be an asset at the end of the loan.

some people love renting brand new cars, taking the biggest depreciation hit for cars real owners in the first 3 years, then handing it in with nothing to show but memories. its not for me.
 
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