Hi all,

I am going to change cars in the next month or two, just wondering if it’s best to buy or lease. Does anyone here lease their car or know anything about it? Only just started to think about it so haven't really looked into it yet. Just wondered what happens with services and does it cost more on your insurance??

Hi Martin,

I work for a car dealership and before I started selling cars I always thought that it was better to buy a car outright but now that I've been in the industry for nearly 3 years I think the best option is to lease or do a pcp contract where you pay a monthly amount and before the final balloon is due at the end, give your car back to the dealer and get a new one. Cars are a depreciating asset and will only lose you money unless you are the type of person who will keep your car until it falls apart! Usually what happens is that the customer uses the current car as a trade in for a new one and any equity that you have in your car goes as a deposit against a new one and so the cycle begins. This way you can change your car every 3 years and stay within the warranty. I hope I'm making sense, sometimes I think faster than I type!!

Nell

Hi, I think that car leasing is also better than car buying because it has lots of benefits. I hired two cars from http://www.frontierleasing.co.uk/ and I am getting very service without any problem. You can find so many car leasing website on the net but its one best for car hiring among of them.

Hope this will help you out!

All the best!

Hi Martin

There's also an excellent guide to leasing/PCP etc. on this site at: http://www.moneysupermarket.com/car-leasing-guide/1/ Hope you find it useful

E

After 37 years of motoring I leased my first car last November.Dont know why I didnt do it earlier.

If you want a new car its a very cost effective, worry free alternative.

I got a 2.0 MX5 over 2 years ( 3+ 23 - 10000 miles /annum) The total cost of the lease is £6000 - they pay the road tax, so all you have to worry about is one service & any tyres.

If I had bought the car myself i would have had to find £17500 & the depreciation would probably have been more than £6000 after 2 years.

Its quite nice not having to worry about it because its not mine - after 2 years it goes back & I sort a new deal out.

Insurance is just the same as having your own car.

I found this site very usefull

Moderator - Link removed, in line with MS forum rules.

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