Soldato
When there is 0% offers it can make sense. As it means the car finance companies are taking on a risk to try move new cars. Most of the time though only companies with their own finance arm do it though.
Car leasing...a good idea?
- Thread starter Andybtsn
- Start date
It means the cost of the interest is built into the deal. If it was 5% finance then you would probably be able to negotiate more off.
Nothing in life is free (well, within reason
)
Leasing IS the most expensive way to own a car, simply because having a new car all the time is very expensive. A new car's value will depreciate/decay exponentially so you are always paying the largest part of the depreciation ( the first couple of years).
I am not saying owning a new car every two years is stupid. If you want to spend your money on that, then that is your choice.
No one should kid themselves into thinking it is cheaper than any other option when it comes to car ownership though...because it isn't. The only slight anomaly to this is if you were as unlucky as Vita and constantly bought used cars that blew up within weeks. In those circumstances leasing a new car may be cheaper!
I am not saying owning a new car every two years is stupid. If you want to spend your money on that, then that is your choice.
No one should kid themselves into thinking it is cheaper than any other option when it comes to car ownership though...because it isn't. The only slight anomaly to this is if you were as unlucky as Vita and constantly bought used cars that blew up within weeks. In those circumstances leasing a new car may be cheaper!
Last edited:
Associate
- Joined
- 22 Aug 2003
- Posts
- 1,413
Adding further to this thread my car is a 2003 Renault Clio bought new and to be honest it has been a pig of a car with 3 clutches numerous Catalytic converter troubles twice costing £800 to repair and these day each MOT usually costs me £300 to get through
2 years ago I would never have considered leasing a car but it has been such a stress free event that I would not hesitate to go down the same route again obviously looking for the bargain lease
my wife driving round in a new car makes her happy which in turn makes me happy... like I said we cannot afford to buy a new car outright so this way is affordable
the current Fiat 500 deal doing the rounds on Hotdeals works out at £2800 for the 2 years which in my book is excellent value working out at £28 per week for a new car
2 years ago I would never have considered leasing a car but it has been such a stress free event that I would not hesitate to go down the same route again obviously looking for the bargain lease
my wife driving round in a new car makes her happy which in turn makes me happy... like I said we cannot afford to buy a new car outright so this way is affordable
the current Fiat 500 deal doing the rounds on Hotdeals works out at £2800 for the 2 years which in my book is excellent value working out at £28 per week for a new car
Soldato
Just to point out that even with large MOT bills yearly, both cars will need servicing/brakes/tyres etc. So the cost of running a new car vs your old one is probably roughly £1000 more per year, just because the depreciation/leasing cost is far more than the repair bills.
That may be worth it to have a new car and it may be worth it for the reliability, but it isn't worth it to save money
