Anyone still buying rather than leasing their car?
Discussion
Just wondering, because there are so many new plate cars around and there seem to be relatively few 3-5 year old cars for sale. I have been looking for a 3-5 year old Mondeo or Mazda 6 and the choice is very sparse! Leasing is clearly here to stay and tempting, but part of me still thinks £6-7K over two years including up front admin fee renting a car you will never own is quite a lot!
If everyone is leasing there should be a huge amount of 3-5 year old minimal mileage cars around the dealer networks surely?
With regards to the costs, this has been done to death. Works for some, not for others, all depends on your circumstances and requirements.
Your problem might be that the cars you are looking for aren't great value on lease TBH and are possibly more likely bought by people planning on keeping them for longer periods?
With regards to the costs, this has been done to death. Works for some, not for others, all depends on your circumstances and requirements.
Your problem might be that the cars you are looking for aren't great value on lease TBH and are possibly more likely bought by people planning on keeping them for longer periods?
Edited by SWoll on Saturday 1st October 11:30
Perhaps the time span you're looking at is just "wrong"?
Companies often lease cars for 3yrs, private buyers with PCPs tend to run them for 3yrs - so once those cars are resold whoever buys them will typically hang on to them for at least 2yrs and possibly a lot longer.
So logically it could be that there aren't many 3-5yr old cars on the market?
Companies often lease cars for 3yrs, private buyers with PCPs tend to run them for 3yrs - so once those cars are resold whoever buys them will typically hang on to them for at least 2yrs and possibly a lot longer.
So logically it could be that there aren't many 3-5yr old cars on the market?
IMO the way to keep overall motoring costs down while enjoying a new car from to time is to buy new for cash and then keep the car a long time - so you benefit from the reduced depreciation in later years.
This way you can have a "nice" car for the same overall cost as having an "ordinary" car and replacing it every 2 or 3 years, whether bought or leased.
This way you can have a "nice" car for the same overall cost as having an "ordinary" car and replacing it every 2 or 3 years, whether bought or leased.
ChocolateFrog said:
The only way it makes sense to me financially is to get a new car on lease with a low mileage limit and then when you've done 100k in 3 years just get the mileage corrected back to 15k. I assume this happens a lot.
Hence my cars tend to have >200k on them to begin with.0
I dont think it does. Firstly, you'd have to get it clocked back every time it needed serviced by the main dealer, and main dealer computers and a lot of third part equipment can pick up on a clocked car anyway. Its not just a matter of adjusting the figure on the dash. Its usually held in maybe half a dozen places including sometimes the key.Hence my cars tend to have >200k on them to begin with.0
I think the headline prices for 6k pa leases just gets people on the hook and they either adjust their mileage allowance to their realistic one or have to cough up at the end of the term.
I've got a Tiguan on a 2-year lease so it goes back in just under a year.
Mrs T wanted new, I was happy to oblige, and I couldn't get the maths to stack up on PCP - larger deposit at the start, more per month and a balloon at the end if you wanted to keep it.
Add in the fact that what Mrs T really wanted was a Disco Sport, it seemed silly to tie myself up to something she could want rid of quite quickly.
It struck me that my overall spend will be about the same as I'd lose in depreciation if I bought outright anyway. In fact, having just looked on Auto Trader, it looks like I'd have lost more in depreciation if I'd bought.
As others have said, I wouldn't think it would matter for your search OP. There ought to be a good supply of stuff coming off lease as well as PCP.
Mrs T wanted new, I was happy to oblige, and I couldn't get the maths to stack up on PCP - larger deposit at the start, more per month and a balloon at the end if you wanted to keep it.
Add in the fact that what Mrs T really wanted was a Disco Sport, it seemed silly to tie myself up to something she could want rid of quite quickly.
It struck me that my overall spend will be about the same as I'd lose in depreciation if I bought outright anyway. In fact, having just looked on Auto Trader, it looks like I'd have lost more in depreciation if I'd bought.
As others have said, I wouldn't think it would matter for your search OP. There ought to be a good supply of stuff coming off lease as well as PCP.
Ozzie Osmond said:
IMO the way to keep overall motoring costs down while enjoying a new car from to time is to buy new for cash and then keep the car a long time - so you benefit from the reduced depreciation in later years.
This way you can have a "nice" car for the same overall cost as having an "ordinary" car and replacing it every 2 or 3 years, whether bought or leased.
+1This way you can have a "nice" car for the same overall cost as having an "ordinary" car and replacing it every 2 or 3 years, whether bought or leased.
Though i get bored very quickly looking at a car, so buying a new and keeping for 10+ years doesnt hold much appeal to me.
PistonBroker said:
I've got a Tiguan on a 2-year lease so it goes back in just under a year.
....
It struck me that my overall spend will be about the same as I'd lose in depreciation if I bought outright anyway. In fact, having just looked on Auto Trader, it looks like I'd have lost more in depreciation if I'd bought.
Based on having bought a Tiguan a year ago I'd say that's definitely correct!....
It struck me that my overall spend will be about the same as I'd lose in depreciation if I bought outright anyway. In fact, having just looked on Auto Trader, it looks like I'd have lost more in depreciation if I'd bought.
Yes, I've never put a car on finance. Including most recent purchase, a new Lotus Evora 400.
I don't like finance, I don't trust myself on finance and finance companies don't trust me (I freelance, very unpredictable income).
Also, I've never yet held on to a car for as long as a reasonable short-term finance deal.
I don't like finance, I don't trust myself on finance and finance companies don't trust me (I freelance, very unpredictable income).
Also, I've never yet held on to a car for as long as a reasonable short-term finance deal.
Ive always bought nearly new but i have been looking at leasing instead of buying this time and as we do less than 10k per yr it seems the best option.
Polo gti 5dr dsg can be had for £5.5k for 2 years lease no maintenance which seems good to me and we do usually change our car at 2-3 yrs.Ive never leased before so im still a little unsure though.
Polo gti 5dr dsg can be had for £5.5k for 2 years lease no maintenance which seems good to me and we do usually change our car at 2-3 yrs.Ive never leased before so im still a little unsure though.
If you buy every 1-3 years then it's hard to argue against, but not everyone does.
My Mum bought new in 1988. Since then she's on her 3rd car but has only owned the current one 5 years.
My last car was bout at 2 years old and sold when it was 5. The car before was bought at 12 months old in 2007. We still own it.
My Mum bought new in 1988. Since then she's on her 3rd car but has only owned the current one 5 years.
My last car was bout at 2 years old and sold when it was 5. The car before was bought at 12 months old in 2007. We still own it.
My cars have always been bought, but I don't buy new. Bought a few at 2 to 3 year old, your talking 7 grand and under budgets, fiestas, pug 107s etc...
Recently got a 8 year old Audi, brand new cost someone over 20 grand, I paid 6.5k and if I keep it a good few years I doubt I will lose much.
If I had the money for the cars I want new I would buy a new car and keep it from new till it's death. It would be my baby.
Recently got a 8 year old Audi, brand new cost someone over 20 grand, I paid 6.5k and if I keep it a good few years I doubt I will lose much.
If I had the money for the cars I want new I would buy a new car and keep it from new till it's death. It would be my baby.
For me the 'buy a new car and keep it for 10 years' thing just doesn't work. After 3 years the lack of factory warranty, increasing servicing and maintenance costs and old technology just aren't something I want to have to put up with every day for the sake of a few £ as life is too short.
There is a huge choice of nice cars in the £250-300 pm leasing bracket (Golf R, M240i, C Class, E Class, XF etc.) and personally I'm more than happy to pay that in order to have a new vehicle every 2-3 years that is spec'd exactly as we want it, has never been used/abused by another owner and that causes us no bother whatsoever.
There is a huge choice of nice cars in the £250-300 pm leasing bracket (Golf R, M240i, C Class, E Class, XF etc.) and personally I'm more than happy to pay that in order to have a new vehicle every 2-3 years that is spec'd exactly as we want it, has never been used/abused by another owner and that causes us no bother whatsoever.
SWoll said:
For me the 'buy a new car and keep it for 10 years' thing just doesn't work. After 3 years the lack of factory warranty, increasing servicing and maintenance costs and old technology just aren't something I want to have to put up with every day for the sake of a few £ as life is too short.
There is a huge choice of nice cars in the £250-300 pm leasing bracket (Golf R, M240i, C Class, E Class, XF etc.) and personally I'm more than happy to pay that in order to have a new vehicle every 2-3 years that is spec'd exactly as we want it, has never been used/abused by another owner and that causes us no bother whatsoever.
Please keep doing this or I won't be able to buy the same cars three years later for a quarter of their original price There is a huge choice of nice cars in the £250-300 pm leasing bracket (Golf R, M240i, C Class, E Class, XF etc.) and personally I'm more than happy to pay that in order to have a new vehicle every 2-3 years that is spec'd exactly as we want it, has never been used/abused by another owner and that causes us no bother whatsoever.
SWoll said:
There is a huge choice of nice cars in the £250-300 pm leasing bracket (Golf R, M240i, C Class, E Class, XF etc.) and personally I'm more than happy to pay that in order to have a new vehicle every 2-3 years that is spec'd exactly as we want it, has never been used/abused by another owner and that causes us no bother whatsoever.
It's the "spec'd exactly as we want it" bit that can kill leasing - I got my Merc nearly new and effectively got its £7K of options free. When I've priced up options on lease cars the cost becomes ridiculous - normally you're pretty well paying the whole option cost during the lease.Gassing Station | General Gassing | Top of Page | What's New | My Stuff