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Leasing a car as opposed to buying 16:36 - Dec 19 with 4306 viewsFixed_It

Just considering this as an option next year, and thought I would ask in the obvious place for advice on advantages and potential pitfalls. Worth considering?

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Leasing a car as opposed to buying on 16:38 - Dec 19 with 3669 viewsGeoffSentence

I have always been a bit suspicious of leasing deals, if only because car dealers are so keen on pushing them these days and the only reason I can see why they would do that is that they will make more money from it.

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Leasing a car as opposed to buying on 16:41 - Dec 19 with 3647 viewsBluefish

Leasing a car as opposed to buying on 16:38 - Dec 19 by GeoffSentence

I have always been a bit suspicious of leasing deals, if only because car dealers are so keen on pushing them these days and the only reason I can see why they would do that is that they will make more money from it.


Do people selling cars not push deals?




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Leasing a car as opposed to buying on 16:42 - Dec 19 with 3649 viewsBasuco

Main advantage is you know what the cost of the car will be each month and have the use of a new car, but when it comes to return the car they often go over it with a fine tooth comb and charge for every stone chip or mark on the paint work or interior. Many seem to want the car returned in mint condition despite 2 or 3 years and 30K - 50K miles of use.
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Leasing a car as opposed to buying on 16:42 - Dec 19 with 3649 viewsblue62

I have a leased company car, which works well, you know after 3 years you will get a new one. And really you are only paying for the depreciation of the car over that 3 year period.

Worth checking out the payments over a period compared to getting a loan to pay for it outright and its value in three year. Unless of course you have a stack of cash to pay for it.
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Leasing a car as opposed to buying on 16:42 - Dec 19 with 3648 viewsMullet

Leasing a car as opposed to buying on 16:38 - Dec 19 by GeoffSentence

I have always been a bit suspicious of leasing deals, if only because car dealers are so keen on pushing them these days and the only reason I can see why they would do that is that they will make more money from it.


Two of the women in my department do it and it baffles me a little. I can't see what they get for their money other than a status symbol car they would struggle to afford. Maybe it's the choices they make from Audi/Mercedes, but to me paying the amount they do to then be coerced to upgrade after 3 years or so seems daft to me.

I guess you get a nice car, no real problems and the like but even then both have had issues that they had to pay for from memory.

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Leasing a car as opposed to buying on 16:44 - Dec 19 with 3643 viewsFoD_Blue

I was leasing a car up until about a year ago. The only reason that I stopped was because I changed job and am now doing too many miles to be able to get a decent lease deal.
The positive is that you get a brand new car every two/three years, and generally that you pay is less than the depreciation that you would have after buying a new car yourself. A downside is that at the end of the lease deal you have nothing to show for your money.

If I was in a position to lease again, I would do so.

Keep in mind that you will probably have to pay for main dealer servicing during the lease period, unless that is already covered in your deal.
I have heard horror stories about people being charged for damage when they hand the car back, but I wasn't charged a thing, despite going about 1000 miles over the agreed mileage.
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Leasing a car as opposed to buying on 16:50 - Dec 19 with 3620 viewsBasuco

Leasing a car as opposed to buying on 16:44 - Dec 19 by FoD_Blue

I was leasing a car up until about a year ago. The only reason that I stopped was because I changed job and am now doing too many miles to be able to get a decent lease deal.
The positive is that you get a brand new car every two/three years, and generally that you pay is less than the depreciation that you would have after buying a new car yourself. A downside is that at the end of the lease deal you have nothing to show for your money.

If I was in a position to lease again, I would do so.

Keep in mind that you will probably have to pay for main dealer servicing during the lease period, unless that is already covered in your deal.
I have heard horror stories about people being charged for damage when they hand the car back, but I wasn't charged a thing, despite going about 1000 miles over the agreed mileage.


A women I used to work with was charged for 6 "accidents" which were small stone chips or scratch's at £250 each one, many others on that car scheme had the similar charges. I used to go to the local auto spares shop and get some touch up paint and deal with every little chip to avoid a charge.
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Leasing a car as opposed to buying on 16:59 - Dec 19 with 3590 viewsblue62

Leasing a car as opposed to buying on 16:50 - Dec 19 by Basuco

A women I used to work with was charged for 6 "accidents" which were small stone chips or scratch's at £250 each one, many others on that car scheme had the similar charges. I used to go to the local auto spares shop and get some touch up paint and deal with every little chip to avoid a charge.


Thats harsh.

Most allow a small mark/dent on each panel, stone chips unless large ones are not included. Its always best to get them tidied up before handing back to save the fees they try to charge.
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Leasing a car as opposed to buying on 20:39 - Dec 19 with 3397 viewsPinewoodblue

Leasing is a good option but there are potential pitfalls. Mileage , due to family circumstances a couple of years ago I drove 12,000 miles in 11 weeks when wife was transferred from Ipswich to hospital in Sheffield. That would have been expensive with a lease vehicle.

Standard of repair. E.g. repairs to chipped windscreens while complying with the law can fall foul of leasors inspection with them insisting on a replacement.

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Leasing a car as opposed to buying on 20:58 - Dec 19 with 3349 viewsHerbivore

Ditch the car altogether, reduce your carbon footprint.

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Leasing a car as opposed to buying on 21:09 - Dec 19 with 3338 viewsjeera

Leasing a car as opposed to buying on 20:58 - Dec 19 by Herbivore

Ditch the car altogether, reduce your carbon footprint.



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Leasing a car as opposed to buying on 21:20 - Dec 19 with 3300 viewsclive_baker

Depends on a lot of factors. If you're looking at electric, I would suggest it's probably not the worst idea. Technology is developing so quickly in that space that I would be nervous about slamming down a big chunk of money and owning it. A 300 mile range and 45 minute charge time might sound OK now but it might have next to no resale value in 5 years if the norm is then 600 miles and 10 minutes innit. Fast forward 25 years and I think car ownership is going to be much less prevalent than it is today, but that's probably not a consideration just yet.

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Leasing a car as opposed to buying on 21:24 - Dec 19 with 3289 viewsFoD_Blue

Leasing a car as opposed to buying on 16:50 - Dec 19 by Basuco

A women I used to work with was charged for 6 "accidents" which were small stone chips or scratch's at £250 each one, many others on that car scheme had the similar charges. I used to go to the local auto spares shop and get some touch up paint and deal with every little chip to avoid a charge.


My car (Hyundai i30) had a few stone chips, but no damage that you wouldn't class as wear and tear. They have a guide to the extent of damage that they will charge for, which didn't seem too extreme. If you are being charged those sort of penalties for wear and tear, then the lease company is ripping you off.
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Leasing a car as opposed to buying on 21:50 - Dec 19 with 3252 viewsArgyle_blue

There was a thread about this a while back. I looked into it in some detail and could not see why anyone would do it. Much better off buying a car with a loan which is what I did. I’m paying the same amount as a lease and I have something at the end of the loan.
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Leasing a car as opposed to buying on 22:12 - Dec 19 with 3221 viewslinhdi

I had a Mondeo on a 3 year lease and it worked brilliantly. Fixed monthly cost included servicing and even tyres, and the lack of hassle when some idiot destroyed the back end on the A14 was great - I handed the car over and collected a high-spec Merc C class for the 3 months it took to repair.

Best of all, I took it over to France a month before the end of the lease period. France has much more stringent tyre standards than UK, so the tyres were borderline for France but fine in UK. They replaced all 4 free of charge.
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Leasing a car as opposed to buying on 23:08 - Dec 19 with 3141 viewsHerbivore

Leasing a car as opposed to buying on 21:09 - Dec 19 by jeera



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Leasing a car as opposed to buying on 02:16 - Dec 20 with 3076 viewsNewcyBlue

Leasing a car as opposed to buying on 21:50 - Dec 19 by Argyle_blue

There was a thread about this a while back. I looked into it in some detail and could not see why anyone would do it. Much better off buying a car with a loan which is what I did. I’m paying the same amount as a lease and I have something at the end of the loan.


Done the same, and it should still be worth about half of what I have paid for it when we plan to upgrade.

We were offered 0% finance on a brand new XE. Which was tempting, but the XF was what we wanted, so bought a 2.5 year old XF with 23k on the clock. Fabulous machine.

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Leasing a car as opposed to buying on 07:33 - Dec 20 with 2950 viewsSaleAway

I think it really depends what you want. If you must have a brand new car - then it might be the way forward, but for me - you'd be better off getting a loan that you can pay at the same rate as a lease cost, and then buy a nearly new car that has already done a bulk of its depreciation.

Again, though, it really depends how you use/keep cars. If you like to keep changing for the latest models, then leasing might be a good option. If you're prepared to keep it for 5+ years, then buying outright at the start probably makes more sense.

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Leasing a car as opposed to buying on 07:43 - Dec 20 with 2936 viewsPinewoodblue

Leasing a car as opposed to buying on 07:33 - Dec 20 by SaleAway

I think it really depends what you want. If you must have a brand new car - then it might be the way forward, but for me - you'd be better off getting a loan that you can pay at the same rate as a lease cost, and then buy a nearly new car that has already done a bulk of its depreciation.

Again, though, it really depends how you use/keep cars. If you like to keep changing for the latest models, then leasing might be a good option. If you're prepared to keep it for 5+ years, then buying outright at the start probably makes more sense.


My last car was 12 months old at purchase, less than 2,000 miles and 40% below list price as new.

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Leasing a car as opposed to buying on 07:48 - Dec 20 with 2929 viewsHorseboy

Bangernomics, end of, no brainer.
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Leasing a car as opposed to buying on 08:07 - Dec 20 with 2908 viewsElephantintheRoom

Its a bit like renting a house instead of buying one. A car is probably the third most expensive thing you might consider buying - after a house and pension. You probably wouldn't rent either of them given a choice.

This is a good(ish) option for companies and self-employed people as it doesn't tie up capital.... but funnily enough people make money from leasing cars.... so is it really a good deal? Not if it's for you and you alone - and you actually look after your car and aren't obsessed with trading it in after three years.

There are two big problems....depreciation which isn't really factored in because they lure mugs in with a balloon payment... 'enough left in the pot to finance your next car sir or madam' which quickly evaporates as every grain of dust on the carpet is charged let alone the chips and scratches that accrue over time..... the other is that you don't actually own the car.

So if its for you and you have the wherewithall to buy it, buy it.... if you are being tempted as a way of finance for a car you cant really afford avoid, walk away.... and if you don't mind the disadvantages of not owning your own car.... then its a good option.

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Leasing a car as opposed to buying on 08:31 - Dec 20 with 2871 viewschicoazul

Leasing a car as opposed to buying on 21:24 - Dec 19 by FoD_Blue

My car (Hyundai i30) had a few stone chips, but no damage that you wouldn't class as wear and tear. They have a guide to the extent of damage that they will charge for, which didn't seem too extreme. If you are being charged those sort of penalties for wear and tear, then the lease company is ripping you off.


How you getting on with dat dere I30? I really fancy that I30N and supposedly Hyundai have come on in a big way with their engines, trim etc. Plenty of good deals on it too.

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Leasing a car as opposed to buying on 08:55 - Dec 20 with 2849 viewsVaughan8

I always thought, if you are going to change your car every (say) 3 years (and you want a "new" car), its better to lease, if you are someone who has it longer, its probably best to buy.

Not sure if that correct but that's always been my thoughts.

I have known people to lease and as someone else said, when you give it back, they want it in pristine condition even though you have had it for X number of years.....and charge you dealer prices to "fix" it.

Also, just be careful of the mileage "restriction" as you then pay extra per mile!
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Leasing a car as opposed to buying on 09:48 - Dec 20 with 2793 viewsSouperJim

Leasing a car as opposed to buying on 07:48 - Dec 20 by Horseboy

Bangernomics, end of, no brainer.


I bought a 10 year old CRV for £4k in the summer, it's been great so far and should do another 100k miles with regular servicing from a cheap local independent. I've previously always paid north of £200/month for "better" cars on finance, hate to think how much money I've wasted over the years.

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Leasing a car as opposed to buying on 09:49 - Dec 20 with 2789 viewshampstead_blue

If you want/need a brand new car and don't have the budget for a loan then leasing is fine.

I've leased for 20 years or so. Every three years I give back the keys and get a new car.
All you are paying is the depreciation. As such if you'd bought it it's money you would ordinarily lose.

I'm just about to lease again, not sure what to go for.
Key thing with leasing is the mileage. We went over on one car by 10000. It cost us a £1,000 but was worth it. Make sure you get enough miles and the excess mileage amount is <10p per mile. That way if you do go over it won't kill you.

BMW were leasing brand new 4 series 2 litre M Sport coupe's recently for £320 pcm, in VAT and 10k miles pa. That's a steal as it's a run-out model.

Buying is more about your own budget and need. Our second car was at the bottom of it's real depreciation so it's more about maintenance.

PCP's are tricky as the rise of EV's could wipe the value in three years or so. You may have negative equity at the end.

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