Leasing A Car

[Purwell]

Has anyone ever leased a car?

I understand that it is popular among younger drivers in the UK but I’m wondering if it would suit this older version.
I’m thinking about small cars, Fiesta or Astra size, maybe even smaller.

From what I have seen so far it looks as though it would cost me about £400 per month and I have not done the maths yet to see how that compares to buying one.

Mainly I’m interested in peoples experiences and any advice on the possible pitfalls I may come across.

I've stumbled on the side of twelve misty mountains
I've walked and I crawled on six crooked highways

[He Didnt Like Ground]

I’ve worked in car hire for 23 years , leasing is fairly painless but you’ll find your bound by a mileage limit and if you break it fairly harsh penalties , at the money your being quoted you should be able to buy one though , what’s made you think about leasing

[Purwell]

Thanks for your reply.

I’ve been wondering how much longer I will keep driving as I’m 75 next birthday.

I wondered if it might be worth leasing a car for just two years.

I’m still not sure what happens at the end of that period though.
Do they let you off the hook or are you dragged into a renewal?

I've stumbled on the side of twelve misty mountains
I've walked and I crawled on six crooked highways

[Admin-Matron]

One thing I would mention Purwell is that if you “lease” a new car is that it must be returned in the same condition as received: if you get a brand new car and get few dings or scratches you will be charged by the leasing company for the repairs at the end of the period. With a “lease” you will be responsible for all servicing costs and it must be taken to a “franchised” dealer. (You can get a “lease” with full servicing cost included but, the monthly payment will be higher for this.)

I was in/connected with the motor industry for over 45 years until I retired and my advice would be to be purchase a vehicle as you will always have something to sell when you give-up driving. (Obviously, the price of the car will depreciate.)

[IanDavies]

I’m not expert, but I’d buy too.

I’m told used cars are holding their value relatively well at the moment.

I am "The Horse Racing Punter" on Facebook
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"

[Richard88]

If buying, second hand but still quite new is the way to go. The first owner has taken the brunt of the depreciation by putting the key in it.

Two years leasing at £400pm and you’re £10k down without a hope of getting so much as a penny back.

I appreciate that buying is a big up front cost but if you can manage it then it’s the way I would go.

[Purwell]

Thanks for the advice.

Looks as though buying a used car for about £10K is the way to go.

I've stumbled on the side of twelve misty mountains
I've walked and I crawled on six crooked highways

[Nathan Hughes]

What will you be using it for.?
If for just the run of mill then why not go for a moped.. it will soon be summer, all the old chicks will be loving it
Getting a seater home from fonzy.. um Purwell

Blackbeard to conquer the World

[IanDavies]

“Looks as though buying a used car for about £10K is the way to go.”

I’d say that’s spot on and if you just want functional, but reliable I am told you can’t go far wrong nowadays with a Skoda.

I am "The Horse Racing Punter" on Facebook
https://mobile.twitter.com/Ian_Davies_
https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"

[He Didnt Like Ground]

If you don’t need a lot of space go for a fiat 500 , very reliable , hold there money well and are also fun to drive

[Purwell]

Had not considered a Fiat 500, worth a look.

I’m leaning toward a Kia Picanto.

I've stumbled on the side of twelve misty mountains
I've walked and I crawled on six crooked highways

[He Didnt Like Ground]

Picanto is ok but kias aren’t cheap anymore , you do get a long warranty though , can’t say our picantos give us any issues , don’t buy a Corsa , another option is a small Toyota , there hybrid cars are great , no issues at all

[Richard88]

https://www.theguardian.com/money/2023/jan/09/uk-car-leasing-deal-contract-cost-of-living

Relevant article here. Another industry propped up by cheap credit and people’s insatiable appetite for, quote, ‘cars they don’t need with money they don’t have’.

You only need to look at the amount of 30, 40, 50k plus motors on the roads and wage figures to know that there can’t possibly that many people who can afford them.

To be clear I’m not suggesting that’s you for a second Purwell, you’re buying something sensible for the right reasons, and indeed doing your homework first.

[IanDavies]

Leasing an Aah (cute kitten)
Leasing a Bar (pub venture)
Leasing a Da (Irish parent)
Leasing an Ear (Bit Van Gogh)
Leasing a Jar (Jam)
Leasing a Ma (Baker from Boney M)
Leasing a Sar (Incomplete virus)
Leasing a Tar (From the navy)
Leasing a Var (From the FA)
Leasing a War (From Putin)

All proof that leasing a car is easiest.

I am "The Horse Racing Punter" on Facebook
https://mobile.twitter.com/Ian_Davies_
https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"

[Author]

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