When I first started driving I was told that whatever you pay in insurance at the start will be more or less what you pay for most of your life. Been true for me so far.
jus teasing fella. am not old enuf to drive legally so have blocks stuck to the soles of me shoes and keeps me fingers crossed
Obviously it depends what cars you have. My first two cars were both 1.1 Fiesta that cost my around £600. My current car is (2.0 C-Max) is about £450. The MG ZR was just over £600, the Megane was about £550 and Avensis around £500. Not really that much difference although the first two were third party, the rest fully comp
If you lease then you have no equity at the end of the agreement. If you take a PCP then there's a final payment that is always less than the market value of the car, so you should have enough for a deposit on your next one. Most 36 month PCP's reach the point of parity (the point when you can get in a new one for the same monthly payment with no deposit) at around 23 months if it's a good brand car. @The DR says - lick my sweaty ballsack
If was to do it, then wouldn't buy it at the end of the contract, would just lease out another new one for next 2 years.
Always wondered about leasing, if you had a bump would the leasing company accept a bog and spray repair or would they demand full panel replacement?
Good question, I guess would be in te small details but knowing companies, they'd want it properly repaired.
Be careful what mileage you do. I think you have to keep it under 12K a year or you get a penalty when you give it back (or pay higher monthly). Have done this once but you have to remember once you have traded in your car for the downpayment on first lease where is your downpayment for the next lease going to come from. Or better still wait until you are the age where you can afford a decent car instead of trying to have it all at once. Typical youth of today!
**** me rigid: I'm in my 50's and pay that fully comp for a Ford KA 1.3! 30 years no claims too. (Direct Line, since you ask, and yes I have shopped around). Think I'll try my union's insurer next year. Train driver in work has a brand new Jag he's only paying £550 a year for- fully comp.
The return conditions vary but in the main as long as the repair was of sufficient quality I.e. The damage was no longer visible, it'd be acceptable
Yes, but if you leased then you'd have another deposit to find, a PCP can give you the same result but minus the deposit when you change
Some highly sensible stuff in here fir ibwt. The mileage stuff is good. I dunno The thing I do know is the new car smell factor here is big. Is the lease attractive enough for you to not get a good second hand car just for new car smell? The only thing I can comment on it this. If you are motorway driving for the love of God do not get a petrol. A diesel has great pull if all you want is to go from 60 to 70 etc ti overtake than avoid speed traps. The cost of petrol over the time if you are heavy mileage will astound. Diesel all the way.
Some people lease their cars and are given 'right to buy' at the end of lease period. Maybe is better that hire purchase I am not sure.
Age is irrelevant. Even if he had the cash to buy a £25k car outright, why would you want to put a bundle of cash into a depreciating asset? Always better to invest your cash and take things like car payments as a monthly expense imo.
Big organisations these days also prefer to lease their vehicles, as they prefer to refurbish their offices every six months for tax reasons.
