Cars: Leasing v buying

[Mad Cyril]

It looks like my current Mobile Command Unit may not be long for this earth so I am considering a replacement.

I receive a car allowance from work and am tempted the fixed cost of leasing as opposed to buying.

Any opinions? I am looking for something in the family 7 seater range.

 

[MK Shrimper]

I lease my car and I think it's great. All maintenance paid for, breakdown recovery, tyres etc, a new car every 4 years. You have to watch your mileage and pay for insurance but I'll never own a car again.

 

[Ricey]

I personally prefer to own a car, if I lose my job I have something that I own and don’t have to worry about paying it. But then again I can’t afford a nice expensive car.

Both my car and the family car we own outright. When the family car goes bang we will probably have to lease initially but will pay it off quickly so we own it outright. That’s just how we are and don’t like finance as a whole.

As for the 7 seaters have a look at the Kia Sorento that’s my next car when our Zafira (avoid at all costs) goes bang!

 

[GNH]

I too get a company car allowance after choosing this option after years of a company car. It allows for choice and also better off in the BIK bracket.

I used this to lease my first ever car 18 months ago which I love, only down side is you are constantly paying for something you will never own unless you cough up the large final payment figure.

Hoping that towards the end of this year I can look at renewing my lease with BMW and maybe getting another new one which will be the real test of how much equity i have after the outstanding finance is paid off. I bet they will be prepared to give me a good deal to extend my custom, at least that's what i'm planning!

 

[Mad Cyril]

We have/had a VW Touran. We have had EGR and turbo issues which I wouldn't expect after 80k miles.

That said I am considering a 1.5 STI petrol...

 

[South Bank Hank]

I’ve never understood how car leasing makes sense to anyone but the leasing company. Someone has to pay for those tyres and ongoing maintenance and the company leasing to you will look to make sure they’re in profit on the deal, which means you’re likely not going to be.

I’ve always had a car allowance and I’ve gone down the new car route a few times in the past. But what swings it for me these days is the comparable class of car you can get into if you look at something with 20k on the clock. Take out the vat and depreciation from driving off the forecourt and you can be in something way superior as a comparison - or in the same for a lot less money (meaning you could put away to safeguard against future costs if that’s important to you). Unlikely I’ll ever buy new again.

 

[HypoTypo]

As SBH has said I don't get the leasing figures. Bit like renting a house, it's just dead money and you end up with nothing to show for it. I have a company car which costs me about £55 per month but thats everything except personal mileage (approx £25 per month).

I got an 18 plate Astra last year for the wife. 50 miles on the clock pre-reg from Vauxall. Listed at 22k, on forecourt for 18k and I paid 14k on a managers special for basically a brand new car.
Sometimes it's just a case of shopping around and hammering the sales guys. Best offence is to walk away if your not happy.

 

[MK Shrimper]

I pay £99 a month for my car which over 4 years works out to be £4752. If I bought it new, it'd cost nearly £10K and after 4 years probably be worth roughly the same. Add in all the maintenance/servicing/tax/breakdown costs/tyres and I'm probably saving about £1K and I'd have to go through the hassle of selling it or trading it in.

 

[Ricky Otto]

My advice?

tradepricecars.com

 

[Massimo Giovanni]

My advice?

tradepricecars.com

I keep an eye on their stock as I am thinking of changing however they seem to have a predominance of oil burner engines vehicles: a petrol 4 x 4 suv or estate is a rare car it seems. Leasing doesn't work for me and I have ended up buying new for the last few cars to get the spec I want, possibly expensive but having a comfortable, reliable car is more than a luxury.

 

[Ricky Otto]

I keep an eye on their stock as I am thinking of changing however they seem to have a predominance of oil burner engines vehicles: a petrol 4 x 4 suv or estate is a rare car it seems. Leasing doesn't work for me and I have ended up buying new for the last few cars to get the spec I want, possibly expensive but having a comfortable, reliable car is more than a luxury.

They do vehicle sourcing through a national network, worth speaking to the guys there.

 

[Member]

I'm more keen to buy second hand because there's decent value on 2-3 year old cars and I'm less bothered about a lot of customisation (and some you can arrange anyway). My missus leases her car and it's a good deal to ensure she has a reliable run-around. We took the forecourt car so were able to negotiate a good price of the lease. I think there's pros and cons of both approaches.

 

[Ricey]

My advice?

tradepricecars.com

Couldn’t agree more, Dan and his team have a great stock and cater for everyone. From your cheap run around to high end prestige cars.

 

[Seasick Steve]

Lease a Range Rover, drive up to Leigh on Sea and park it on some double yellow lines.

Go on... you know you want to!

 

[Tangled up in Blue]

I keep an eye on their stock as I am thinking of changing however they seem to have a predominance of oil burner engines vehicles: a petrol 4 x 4 suv or estate is a rare car it seems. Leasing doesn't work for me and I have ended up buying new for the last few cars to get the spec I want, possibly expensive but having a comfortable, reliable car is more than a luxury.

We bought a one year old Picasso in the summer after having bought our last two Scenics brand new.No complaints here.(t was really time we got used to using GPS and MP3 systems too).

 

[rigsby]

The stats may be a bit dated but a few years back the theory was, the most economical way is to buy a good quality 7 year old car. Then keep it for 3 years.

Granted most people like something newer in the modern world. As I don't have to drive to London for work anymore I spend less on cars these days and the less time I spend in a car the better as far as I'm concerned.

 

[Tinks]

I have recently returned my lease car and although I have had trouble free motoring for several years I never realised how much I was being taxed by having it.
I now have my own car and despite having to maintain it and pay for any repairs, insurance etc I am almost 2K a year better off and if I use it for work I get 43p per mile instead of 13p on lease.
Think very carefully if offered salary sacrifice as this can have an impact on you r pension.

 

[Mad Cyril]

Apart from the fact that they are ugly and a bit gutless can anyone give me a reason not to buy a used Ford Torneo Grand Connect 7 seater?

 

[Massimo Giovanni]

Apart from the fact that they are ugly and a bit gutless can anyone give me a reason not to buy a used Ford Torneo Grand Connect 7 seater?

Generally they are oil burners and in a few years will have zero resale value.

 

[Mad Cyril]

Generally they are oil burners and in a few years will have zero resale value.

Oil burners as in diesels or oil burners as in ****ty engines?

I realise they are unrefined but just need something cheap and spacious for a couple of years.