Off Topic Leasing v Buying a car

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InBiscanWeTrust said:
No chance I'd buy an old banger when I do 60 miles a day <laugh>
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I'll be honest with you if you are doing that 60x say 200 days say = hitting the limit no?

I do that. I bought the new car. Its now 8 years old with 200k on clock. i looked after it. its now really not worth changing.

If you get a GOOD used car which is diesel and low tax thats your best option. i mean its not a shock but having something and looking after it well is better than throw away society.
 
johnsonsbaby said:
That's the biggest draw back imo. Because at the end of that time having paid out all that money, you own nothing. You have nothing to show for all that money spent - but can look back on the nice cars you drove, once .....
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Thats the thing though, in 8/12 years time your car is worth peanuts. If money was an issue you wouldn't be leasing/buying a new car in the first place, you'd be buying these cars worth peanuts and gambling that there is nothing wrong with the car
 
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moreinjuredthanowen said:
I'll be honest with you if you are doing that 60x say 200 days say = hitting the limit no?

I do that. I bought the new car. Its now 8 years old with 200k on clock. i looked after it. its now really not worth changing.

If you get a GOOD used car which is diesel and low tax thats your best option. i mean its not a shock but having something and looking after it well is better than throw away society.
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200 days? I'm not gerrez... Try 260 working days a year (minus holiday) <whistle>
 
moreinjuredthanowen said:
I'll be honest with you if you are doing that 60x say 200 days say = hitting the limit no?

I do that. I bought the new car. Its now 8 years old with 200k on clock. i looked after it. its now really not worth changing.

If you get a GOOD used car which is diesel and low tax thats your best option. i mean its not a shock but having something and looking after it well is better than throw away society.
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If you get a modern day diesel then the mileage on the clock doesn't really matter
 
BobbyD said:
Thats the thing though, in 8/12 years time your car is worth peanuts. If money was an issue you wouldn't be leasing/buying a new car in the first place, you'd be buying these cars worth peanuts and gambling that there is nothing wrong with the car
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Welcome to twenty minutes ago...

Gerrez said:
Better off buying a old banger that has as near to 12 months MOT as possible and running it into the ground. Cheapest option when you consider lease charges or depreciation costs.
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...<whistle>
 
BobbyD said:
Thats the thing though, in 8/12 years time your car is worth peanuts. If money was an issue you wouldn't be leasing/buying a new car in the first place, you'd be buying these cars worth peanuts and gambling that there is nothing wrong with the car
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But .. and it's a big but, you still have an asset, and a depreciating asset has to be worth more than no asset at all. You can drive a car worth peanuts forever [almost] - a car worth what £10k is back in the dealers with someone else driving it.
 
johnsonsbaby said:
But .. and it's a big but, you still have an asset, and a depreciating asset has to be worth more than no asset at all. You can drive a car worth peanuts forever [almost] - a car worth what £10k is back in the dealers with someone else driving it.
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When you're talking about leasing vs owning over ten years I'd so the monthly outgoings is the biggest concern. The cars going to be worth very little if you chose to buy, you won't have anything if you lease. the main benefit would be the saving you make on a regular basis.
 
Gerrez said:
When you're talking about leasing vs owning over ten years I'd so the monthly outgoings is the biggest concern. The cars going to be worth very little if you chose to buy, you won't have anything if you lease. the main benefit would be the saving you make on a regular basis.
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If you've never leased before you can't say at the outset that you will do it for 10 years though, I don't think.

I'm also a worrier so driving someone else's car isn't something I like doing. Each of the cars I lease I loved, but was worried most of the time - like each time someone got too close I was far more sensitive than if it had been my own car .... but that's just me <laugh>

For IBWT I would recommend he leased a car, from what he's saying that looks the best option for him. For me having done it, it was the most money ever spent with nothing to show for it at the end. Had I bought a car with monthly payments equal to lease payments, I would have had a car at the end of it all whether that car was worth peanuts or not.
 
Gerrez said:
Better off buying a old banger that has as near to 12 months MOT as possible and running it into the ground. Cheapest option when you consider lease charges or depreciation costs.
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Like everything else in life you pay for what you get.

Leasing a car: peace of mind, no maintenance costs, no worries about depreciation, known fixed costs. BUT you have to be prepared to pay more for the privilege.

Buying a newish used car outright; possible bargain, cheaper, but risks of getting a dud, repair costs, breakdowns, depreciation worry, maintenance.

So it depends whether the benefits of leasing are worth the extra costs. For some defintely worth it especially those who would like a newish model every 3 years.

E.g: for a 2 year old A6, deposit £4K, contract of 3 years at 250/month. So this is an outlay of £13k over 3 years.

If you buy it outright it would cost £20k and include finance etc it comes to 22k and then if you include servicing etc and depreciation, you would probably have spent £10K in 3 years if you are lucky.

So not worth the hassle. If you want a new expensive car, leasing is the way to go. The only exception is for the really desirable used car which does not deprecaite that much.
 
johnsonsbaby said:
The starting point is 12k, after that they add incremental premiums.
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Gotcha, year did notice it increase as mileage went up.

My my work is about 17k a year so add another 3/4k on top for personal use (don't drive long distances outside of work) so not too high.
 
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