Leasing A Car

Purwell

Purwell

Member
Location
North Herts (UK)
Has anyone ever leased a car?

I understand that it is popular among younger drivers in the UK but I'm wondering if it would suit this older version.
I'm thinking about small cars, Fiesta or Astra size, maybe even smaller.

From what I have seen so far it looks as though it would cost me about £400 per month and I have not done the maths yet to see how that compares to buying one.

Mainly I'm interested in peoples experiences and any advice on the possible pitfalls I may come across.
 

I think that you need to be below a certain age Purwell,
that is what it used to be, but it might be different now.

Mike.
 
I’m not sure how much help I could be since you are all in the UK and I’m in the US but I leased my last two cars. I chose leasing because of the low payment and to have a car under full warranty. It worked well for me but the lease on the second car just expired and I bought it. Now, I will find our if that was a good decision. 😊
 
My older sister does. I think it's rather stupid unless you have a lot of money. My sister claimed that when you own your own car, "they nickel and dime you to death". Now she is leasing a car, and she is being "hundred dollar bill to death". Leasing a car costs you a lot more money that owning your own car. Unless you have some 20 year old rattle trap. She probably spends a couple thousand dollars a year. Way more than I spend on repairs. She has to pay every month for 3 years. At that time she gets a new car, with another 3 years of payments. The bills never stop. But when you buy a new but previously owned vehicle, you have a car loan and the payments eventually stop. When I bought my Mitsubishi in 2019, I paid in cash, so to speak. I had the money taken from my account, and into the account of the dealer. So I spared myself 2 years of car loan payments, and saved quite a lot on bank finance charges.
 
Paladin1950 said:
My older sister does. I think it's rather stupid unless you have a lot of money. My sister claimed that when you own your own car, "they nickel and dime you to death". Now she is leasing a car, and she is being "hundred dollar bill to death". Leasing a car costs you a lot more money that owning your own car. Unless you have some 20 year old rattle trap. She probably spends a couple thousand dollars a year. Way more than I spend on repairs. She has to pay every month for 3 years. At that time she gets a new car, with another 3 years of payments. The bills never stop. But when you buy a new but previously owned vehicle, you have a car loan and the payments eventually stop. When I bought my Mitsubishi in 2019, I paid in cash, so to speak. I had the money taken from my account, and into the account of the dealer. So I spared myself 2 years of car loan payments, and saved quite a lot on bank finance charges.
Click to expand...
We have that 20 year old rattle trap, what a money saver that has turned out to be. Most of our cars have been four to five years old before the larger repair bills start stacking up and it's time to trade it in. Back in the year 2000 though that changed, the seven year old BMW was becoming too expensive at service and repair time, I traded it in for a three month old VW Golf, with roughly two thousand five hundred miles on the clock. Twenty-two years and one hundred and ninety five thousand miles later our old rattle trap runs perfectly. In fact the only fault that my wife can find with the car is, she's bored with it.

You see my avatar, that's an MG Y-Type, circa 1947. It lives in a heated garage, the garage has room for two cars, as a result the VW Golf is as cosseted as the classic MG. Chances are, if I am not arm twisted to get her a new car the VW Golf will outlive us.
 
Mrs. L's VW Polo, at less than 3 years old, started to become expensive. Not all major items, but ones not covered by warranty. I really think that VW build quality has 'dumbed down' in recent years. I remember a colleague advising that you ignore the brand and buy the best deal on a new car. You will have full warranty for 3 years at least and then you can trade it in against another new car.
Mrs. L decided to risk buying a new Dacia 'Stepway' which is now part of the Renault family. I know it still suffers a bit from image problems, but then so did Skoda initially, and it's now virtually a premium brand. So far, all is fine and it's a very high spec'd car for the price. It does lack a bit of finesse, but it does the job well and economically.
 
A lot of my neighbors lease. I never heard any complaints. Of course, they are all pretty well off. The one neighbor across the street gets a new black Mercedes SUV every 2 years. It must be black and he keeps it shining all the time. He probably spends more on keeping his car shining than I do on getting new brakes all around. He had someone come to his house and clean it.
 
I've been looking at Kia Picantos.

Two year old ones can be obtained for about £8000 via various internet sites but we have a Kia dealer in Stevenage so I will have a look at his stock first.

As I have long legs, I want to make sure that I fits before I sits!
 
If you buy, your stuck with it. If you lease and don't like it, you can exchange it in 3 years and have a new car.

I have a friend that buys a new car every 3 or 4 years. I told her she should lease, but she wouldn't hear of it.

My car is 20 years old, so that's how that goes.

https://www.consumerreports.org/buying-a-car/leasing-vs-buying-a-new-car-a9135602164/

https://www.bankrate.com/loans/auto-loans/leasing-vs-buying-a-car/

https://www.bankrate.com/loans/auto-loans/lease-vs-buy-calculator/
 

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