Leasing

(6 Posts)
jreynolds87 Wed 11-Sep-13 16:43:51

Hi all, seems like there's a good amount of knowledge on here about car leasing. I'm afraid I've not got much at all but I've heard that it can save you a decent amount of money if you're not too fussed about the car being "your baby" and having to hand it back.

I've been having a look around for a basic and reliable family car and found some good prices here. However I really don't know if these deals are good or not and I'm not yet at the stage to call up a salesperson.

Can anyone give me some initial advice as to if I'm on the right track?

PCP gives you more right in terms of returning the car - you can return once you have paid over 50% and you also have the option of selling and repaying (only works of the car is worth more than the finance)

Our last car was PCP - we have just leased a car from Nationwide as we needed a bigger car and like for like it was cheaper for us and we didn't need to pay a huge deposit. We were more bothered about monthly payments than keeping the car at the end as we seem to change cars about every 3 years anyway

TomJamesBrennan Mon 03-Jun-13 11:38:49

Hey HeavenlyYoni, I am in a similar position to you actually - looking to lease a Ford Fiesta as opposed to buying one new or second hand.

I'm weighing up the options and looking for all pros and cons for leasing rather than buying outright (affordability, car safety ratings, and running costs are my major concerns).

I read the MSE information and also found a useful video here - it's made it a lot easier for me to understand what car leasing involves, and speaking to a few of my friends has made me think it might be the right option for me. Also if you're only doing 10K per year that might help to keep costs down compared with doing 50K per year.

Let me know how you get on!

HeavenlyYoni Thu 25-Apr-13 22:18:41

Thanks WMittens, about 10k a year. Not too fussed about keeping the car afterwards.

I've just found some really good information here

WMittens Thu 25-Apr-13 21:52:02

Leasing ties you in for a long time - apparently PCP gives you more rights in terms of cancelling/giving the car back if circumstances change.

Do you want to keep the car at the end of it (or have that option)?

How many miles do you do a year?

HeavenlyYoni Thu 25-Apr-13 21:46:46

Tell me your experience, costings, recommendations - anything really. Wondering whether to lease using old car as part-ex.

Ta very much!

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