Cars: Buying v Leasing?

Desert Orchid

Desert Orchid

Senior Jockey
Joined
Aug 2, 2005
Messages
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Mrs O and I both plan to change our cars soon so muggins here gets to do all the research and groundwork.

Which? has a good item on whether to buy or lease. I'd always have said buy but Which? offers one or two scenarios in which leasing might be better.

Do any of you have experience of (personal) leasing and if so would you mind sharing them?

Thanks in advance.
 
I don't have a car anymore as I live in an area with excellent public transport links and I cycle a lot to/from stations etc. but a friend of mine started leasing a few years ago and he says he can't believe he used to buy cars. When you factor in the depreciation, leasing is far better value unless you're buying a second hand car at a good price (buying at auction best apparently).

Buying a new car is like betting at SP
 
Thanks, GS.

I remember having a bit of a debate on here with BrianH a few years back about the best way to buy a car. He was adamant that buying a new car and selling it after 3 years was the way to go but he seemed to be basing his argument on his company's data which gives a different perspective from mine. I argued that you should buy a 2-3 year old car - once the worst of the depreciation has taken effect - but make sure it's a reliable brand (eg Honda, Toyota, VW/Audi etc).

I've been researching and viewing for a week and there's a bit of me enjoying (another bit getting fed up) exasperating sales staff who don't get near what I'm prepared to pay for the car they're showing me. I keep telling them when they give me a deal I like I'll bite their hand off but they hardly shift.

I've mentioned before, I bought my Jag at auction. Supposed to be over £27K new counting all the extras the original owner/company had put in. I paid a fraction over £4k for it when it was three years old with 120ooo miles on it. I got together all my service/maintenance receipts last week and added them up. The car so far has cost me a decimal point or two over 7p per mile. But the maintenance is starting to happen more often so I reckon now that I'm only doing 6ooo miles a year it's time to go for something younger, maybe a good petrol medium car.

It was the garage owner who services the car suggested leasing.
 
I understand where you're coming from, simmo.

Unless you're close to good public transport a car isn't a luxury and it will always cost you. It's a matter of trying to limit the cost. (I know you know that. Not trying to patronise.)

I qualify for my bus pass in September next year. I intend to use it wherever possible/convenient but will still need a car.
 
granger said:
For such low mileage DO, maybe buy an older reliable car for cash, keep it serviced and drive it to the ground.
Click to expand...

Yeah, I'm thinking along those lines myself, granger. I've made an enquiry about a 2009 Avensis Tourer (estate) from Toyota Approved. It's not far off top book price but if I can get them to get the price down, offer me a good price for the Jag, throw in a two or three year warranty (instead of the 1yr one), breakdown cover, etc etc, I might be tempted.
 
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